• 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
  • 9 hours Its going to be an oil bloodbath
  • 2 mins US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 3 hours Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 3 hours Marine based energy generation
  • 5 hours What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 16 hours The Most Annoying Person You Have Encountered During Lockdown
  • 13 hours Trafigura CEO Weir says, "We will see 30% to 35% drop in demand". That amounts to 35mm bbls/day glut ! OPEC+ 10 mm cut won't fix it. It's a DEMAND problem.
  • 7 hours Real Death Toll In CCP Virus May Be 12X Official Toll
  • 17 hours Cpt Lauren Dowsett
  • 2 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
  • 15 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 18 hours Washington doctor removed from his post, over covid
  • 19 hours Which producers will shut in first?

Breaking News:

IEA: OPEC Can’t Save The Oil Market

Syria Fears Send Oil Prices Higher

Syria Fears

Turkey’s military invasion into northeastern Syria has moved crude prices higher after this week’s trading failed to move WTI below the $52 per barrel mark. With a further Middle Eastern imbroglio looming, the list of geopolitical risks continues to increase – Iran’s occasional overtures towards the United States have been falling on deaf ears, while Venezuela seems to have no chance of sanctions being removed while Maduro is in place. Following a somewhat unexpected flareup, the global heavy sour shortage might witness a further aggravation as Ecuador struggles to placate its rioting populace, triggered by President Moreno’s move to end fuel subsidies – the situation is so bad that Moreno has already moved his administration out of the capital (Quito remains overruns by riots) into Guayaquil.

Some 0.2mbpd of heavy sour will be gone from the global markets if Ecuador cannot regain control of its Petroamazonas oil subsidiary. Wednesday afternoon saw global benchmark Brent trading at $58.5-58.8 per barrel, whilst US benchmark was assessed around $53-53.2 per barrel.

1. Chinese Crude Imports Still Cannot Breach 10mbpd Threshold

- Chinese crude imports have dropped month-on-month to 9.92mbpd, down from 9.97mbpd in August 2019, on the back of an overall (much larger) Asian crude imports decrease.

- Aggregate Asian crude imports have suffered more from the Saudi production outage, reaching a 6-month low of…




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