• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 2 hours Which producers will shut in first?
  • 6 hours How to Create a Pandemic
  • 34 mins TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 8 hours KSA taking Missiles from ?
  • 8 hours There are 4 major mfg of hydroxychloroquine in the world. China, Germany, India and Israel. Germany and India are hoarding production and blocked exports to the United States. China not shipping any , don't know their policy.
  • 8 hours A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 7 hours Trump eyes massive expulsion of suspected Chinese spies
  • 3 hours WE have a suicidal player in the energy industry
  • 4 hours Eight Billion Dollars Wasted on Nuclear Storage Plant
  • 8 hours Breaking News - Strategic Strikes on Chinese Troll Farms
  • 22 hours Today 127 new cases in US, 99 in China, 778 in Italy
Alt Text

Why Are Tesla Cars So Popular?

From their sleek futuristic design…

Alt Text

Why This Is Not The Right Time To Buy Energy Stocks

After a strong three-day rally,…

Editorial Dept

Editorial Dept

More Info

Premium Content

Saudi Arabia Escalates The Oil Price War

Market Movers

- Saudi Arabia has booked multiple VLCCs to ship its crude oil, including to the US Gulf Coast, despite having its own fleet of VLCCs. While China is still struggling under the weight of COVID-19 and its oil refineries are scaling back their runs, Saudi Arabia is planning to increase shipments to that region of the world, and its lowered OSP is will be attractive for China - even if they don’t need it right now. The bookings for the VLCCs are just preliminary and can still be canceled, but even just a show of force at this point may be enough to move oil prices even lower on one hand, and shipping rates up on the other.

- Russian oil companies were supposed to meet with the Russian energy ministry this week to discuss the possibility of once again resuming its cooperation with OPEC. Instead, discussions sidelined OPEC, with giant Gazprom Neft saying that it was getting ready to increase production in April. A return to OPEC was not even an option. Russian oil companies have been vocal opponents of the deal for years, and are unlikely to break out their pom-poms in support of further production cuts, in what would, in their opinion, simply take cheaper Saudi and Russia barrels off the market and open the door for more expensive US shale. Saudi Arabia, however, is breathing down Russia’s neck and is now flooding Russia’s European customers with super cheap Arab Light in a bid to woo them away from Urals blend.

- The United States…






Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News