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Energy / Crude Oil


Saudi Arabia Prepares To Flood The Market With Even More Oil

Mar 11, 2020 at 11:17 | Irina Slav

The Saudi Energy Ministry has told Aramco to increase its oil production capacity to 13 from 12 million bpd, the company’s chief executive Amin Nasser said in a statement as…


Oil Price War Escalates As OPEC's No.3 Boosts Production

Mar 11, 2020 at 10:46 | Tsvetana Paraskova

OPEC’s third biggest producer, the United Arab Emirates (UAE), is entering the oil price war as the Abu Dhabi National Oil Company (ADNOC) said on Wednesday it was positioned…

Oil tanks

Oil Falls Further On Soaring Crude Inventories

Mar 11, 2020 at 10:09 | Irina Slav

Amid a new oil price rout sparked by the breakdown of the OPEC+ alliance the Energy Information Administration reported a crude oil inventory build of 7.7 million barrels for…

Bahri shipping

Saudi Arabia Books Supertankers To Flood U.S. Markets With Oil

Mar 10, 2020 at 13:41 | Julianne Geiger

Saudi Arabia’s state-run shipping company has hired multiple very large crude carriers to carry all the extra oil it plans on exporting next month—a rare move indeed…


Russia Might Not Be Done With OPEC Just Yet

Mar 10, 2020 at 13:17 | Tsvetana Paraskova

Despite the break-up of the OPEC+ production cut agreement, “the doors aren’t closed” to future cooperation between Russia and OPEC, Russia’s Energy Minister Alexander Novak told local news channel


Russia Fires Back: Could Boost Oil Production By 500,000 Bpd

Mar 10, 2020 at 11:57 | Tsvetana Paraskova

Russia can raise its oil production by 200,000 bpd to 300,000 bpd in the short term, with a potential for up to a total increase of 500,000 bpd, Russian Energy…


Oil Price Crash: 50% Of U.S. Shale Could Go Bankrupt

Mar 09, 2020 at 18:41 | Nick Cunningham

It’s one for the history books. Oil opened on Monday down roughly 25 percent, the sharpest decline in decades, and broader financial markets fell so precipitously that the circuit breakers…


Can U.S. Shale Survive The Oil Price War?

Mar 09, 2020 at 17:59 | Julianne Geiger

On Friday, the oil market’s worst fears came true: OPEC+ failed to agree on how to deal with the coronavirus’ effect on oil demand, sending oil prices plunging. But with…

oil tanker

IEA: Oil Demand To Drop For First Time Since 2009

Mar 09, 2020 at 13:58 | Tsvetana Paraskova

Global oil demand is set to drop this year for the first time since the financial crisis in 2009, the International Energy Agency (IEA) said on Monday, as it…


Deal Or No Deal? OPEC Proposes 1.5 Million Bpd Output Cut

Mar 05, 2020 at 10:10 | Julianne Geiger

OPEC managed to agree on a massive new production cut—1.5 million bpd—on Thursday, but the deal hinges rather shakily on Russia’s buy-in to the cuts, two Reuters sources said. And…

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