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Will Low Prices Save Long-Term Oil Demand?

Will Low Prices Save Long-Term Oil Demand?

Will low gasoline prices will…

Energy / Oil Prices

Oil Prices Tank Despite 10 Million Barrel Per Day Production Cut

Apr 09, 2020 at 15:22 | Julianne Geiger

OPEC++ may have reached today a commitment to cut 10 million bpd of oil production in both May and June, but oil prices reacted poorly…

Global Oil Producers Agree On Joint 10 Million Bpd Output Cut

Apr 09, 2020 at 11:13 | Julianne Geiger

OPEC has succeeded. On Thursday, the OPEC++ group agreed, in principle, to cut 10 million bpd in oil production, according to media. But will it be enough? Today’s oil prices…

Oil Spikes After Algeria Says OPEC+ Cuts Could Reach 10 Million Bpd

Apr 08, 2020 at 14:20 | Julianne Geiger

The price of a West Texas Intermediate barrel of oil shot up on Wednesday afternoon by nearly 7% shortly after OPEC’s President gave the market fresh optimism…

When Will Oil Bounce Back?

Apr 07, 2020 at 18:13 | David Messler

Last week saw oil move jump in the largest two-day percentage increase in history. A similar movement was seen in Brent, moving back into the mid-$30’s. In a…

The World’s Biggest Oil Deal Can’t Save Crude Prices

Apr 06, 2020 at 17:22 | Nick Cunningham

G20 countries are set to send their oil minister for an emergency meeting on Friday, a sign that there is a chance that OPEC and Russia can pull…

OPEC+ Discuss 10 Million Bpd Cut Involving Other Producers

Apr 03, 2020 at 08:54 | Tsvetana Paraskova

Oil producers from the OPEC+ coalition are discussing the possibility of slashing global crude oil production by 10 million bpd in cooperation with producers from outside the group, a source…

$5 Crude Could Put Canada’s Oil Sands Out Of Business

Apr 02, 2020 at 16:14 | Tsvetana Paraskova

Over the last few weeks, the higher breakeven costs for oil and the lack of sufficient takeaway capacity has come back to haunt Canada’s oil patch. 

Trump Tweet Sends Oil Soaring 25%

Apr 02, 2020 at 10:35 | Tsvetana Paraskova

Oil prices spiked on Thursday morning after U.S. President Donald Trump said that he spoke with the Saudi Crown Prince, and hoped and expected that Saudi Arabia and…

Trump May Join Oil Talks Between Russia And Saudi Arabia

Apr 01, 2020 at 12:45 | Irina Slav

President Donald Trump said he might join a discussion about oil production and prices with Saudi Arabia and Russia that, according to him, is ongoing. “The two countries are discussing…

Oil Giants Turn On Each Other As Crude Prices Plummet

Mar 31, 2020 at 17:57 | Nick Cunningham

Scott Sheffield of Pioneer Natural Resources blamed ExxonMobil for blocking help from the American government for the U.S. shale industry. Exxon’s refusal, Sheffield says, is because the oil…

Oil Hits $20 For The First Time In 18 Years

Mar 30, 2020 at 10:57 | Tsvetana Paraskova

Oil prices plunged on Monday to their lowest levels in eighteen years, below $20 per barrel, as the coronavirus pandemic continues to cripple global oil demand with no signs of…

Oil Prices Could Fall Another 20%

Mar 27, 2020 at 15:32 | City A.M

Brent crude was down four percent Friday afternoon at $27.50 per barrel. US crude was five percent lower at $21.47 per barrel.  Prices were on track…

The Oil Price War Won’t Dethrone The Dollar

Mar 26, 2020 at 14:02 | Alex Kimani

With the oil price war between Saudi Arabia and Russia showing no signs of relenting, some analysts are now warning that the standoff could extend much…

Iran Is Preparing For An Oil Export Boom

Mar 25, 2020 at 15:04 | Simon Watkins

In the current straitened sanctions period, Iran’s focus in its oil sector is broadly to increase the capacity of its fields in West Karoun and from the huge…

Barclays Slashes Oil Price Forecast On Demand Shock

Mar 24, 2020 at 15:32 | Tsvetana Paraskova

Barclays slashed its oil price estimates for this year for the second time in two weeks, expecting WTI Crude to average $28 a barrel in 2020 due to the demand shock…

The Real Reason Oil Prices Crashed

Mar 23, 2020 at 18:12 | Irina Slav

Here’s a quick question: what happens when a lot of people are producing more and more of a commodity, but fewer people want to buy it? It’s economics…

Oil Jumps As Markets Panic

Mar 23, 2020 at 17:12 | Julianne Geiger

Oil prices rose slightly on Monday, but the oil markets are still in full-blown panic mode as the number of American states in complete lockdown grows, threatening demand for crude…

Gasoline Futures Fall To $0.50 As Demand Plummets

Mar 23, 2020 at 10:58 | ZeroHedge

Gasoline futures in New York fell as much as 13 percent to $0.50 a gallon, the lowest level since the current contract started trading in 2005.

Oil Prices Retreat After Massive Rally

Mar 20, 2020 at 10:46 | Tsvetana Paraskova

Following a rally early on Friday supported by U.S. President Donald Trump suggesting he could intervene in the ongoing Saudi-Russia oil price war and by a flow of stimulus from…

The Inevitable Outcome Of The Oil Price War

Mar 19, 2020 at 18:20 | Simon Watkins

One might reasonably posit that when Crown Prince Mohammed bin Salman (MbS) signalled that Saudi Arabia was once again going to produce oil to the maximum to crash oil prices…

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