• 4 minutes Trump will meet with executives in the energy industry to discuss the impact of COVID-19
  • 8 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 11 minutes Why Trump Is Right to Re-Open the Economy
  • 13 minutes Its going to be an oil bloodbath
  • 1 hour US Shale Resilience: Oil Industry Experts Say Shale Will Rise Again
  • 2 hours While China was covering up Covid-19 it went on an international buying spree for ventilators and masks. From Jan 7th until the end of February China bought 2.2 Billion masks !
  • 31 mins Ten days ago Trump sent New York Hydroxychloroquine. Being administered to infected. Covid deaths dropped last few days. Fewer on ventilators. Hydroxychloroquine "Cause and Effect" ?
  • 6 hours Marine based energy generation
  • 2 hours China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 4 hours Today 127 new cases in US, 99 in China, 778 in Italy
  • 10 hours Real Death Toll In CCP Virus May Be 12X Official Toll
  • 20 hours What If ‘We’d Adopted A More Conventional Response To This Epidemic?’
  • 1 day 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.
  • 35 mins Apple to Bypass Internet and Beam Directly to Phones
  • 6 hours Which producers will shut in first?
  • 16 hours TRUMP pushing Hydroxychloroquine + Zpak therapy forward despite FDA conservative approach. As he reasons, "What have we got to lose ?"
Ross McCracken

Ross McCracken

Ross is an energy analyst, writer and consultant who was previously the Managing Editor of Platts Energy Economist

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Why Saudi Arabia Needs An Aramco IPO

Saudi Arabia

At the start of the year, hopes and expectations were that the US and China would come to a relatively speedy resolution on trade and the world economy would be set once again on a moderate path of expansion. These hopes have been repeatedly disappointed. Instead the failure of negotiations has seen the US escalate the dispute, prompting tit-for-tat tariff responses from China.

The impact on world trade is becoming ever more pronounced. The OECD’s Composite Leading Indicator fell to 99.06 in June, registering consecutive monthly falls since December 2017 and is now at its lowest level since the financial crisis of 2009. Growth in global container trade dropped to 1.3% in the first half of the year, compared with growth of 4.5% in the same period of last year.

In its latest oil market report, the International Energy Agency (IEA) put oil demand growth for January-May at just 520,000 b/d, noting it was the lowest increase for the period since 2008. Oil demand growth estimates for 2019 and 2020 were revised down by 0.1 million b/d to 1.1 million b/d and 1.3 million b/d respectively.

With further tariffs set to be imposed by the US on China September 1, and China ending purchases of US agricultural goods in response, the situation is unlikely to improve. The IEA commented that there is a greater likelihood of a further downward revision to oil demand than there is of an upward one. As suggested in earlier articles, the bottom of the downturn has yet to…




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