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Energy

The Oil Storage Crisis Is Far From Over

May 28, 2020 at 15:53 | Alex Kimani

It’s more than a month since the oil markets sunk to a nadir in the mother-of-all market routs. Since then, oil prices have staged an impressive recovery, especially from WTI’s…

Huge Oil Fields Could Help Iran To Seize Saudi Market Share In China

May 28, 2020 at 14:43 | Simon Watkins

Given that China’s oil demand has now recovered from the COVID-19 outbreak to even higher levels than before, Iran is operating at full tilt to optimise the oil available…

China Scoops Up Cheap Nigerian Oil

May 28, 2020 at 12:46 | Viktor Katona

The submersion of East Asian markets into coronavirus-induced recession has pulled down several major oil producers, most notably Nigeria whose breakeven price is well above $100 per barrel (Fitch puts…

Saudi Arabia Wants Record Oil Output Cuts To Last Till End 2020

May 28, 2020 at 12:01 | Tsvetana Paraskova

Saudi Arabia and several other members of OPEC are discussing the possibility of extending the current level of OPEC+ production cuts to the end of the year to support the…

U.S. Shale Production Won't Bounce Back Until 2021

May 28, 2020 at 10:54 | Irina Slav

It could take a year before U.S. shale production starts to rise again, the chief executive of Precision Drilling Kevin Neveu told Bloomberg. This could happen even if a…

Oil Prices Fall On Bearish EIA Data

May 28, 2020 at 10:19 | Irina Slav

The Energy Information poured cold water on oil bull circles this week when it reported a crude oil inventory increase of 7.9 million barrels for the week to May…

Oil Prices Stabilize On Rumors Of An OPEC+ Extension

May 28, 2020 at 09:30 | Tom Kool

Oil traded flat on Thursday morning following yesterday’s correction driven by Saudi Arabia and other OPEC members signaling that they are considering extending the huge output cuts until…

Will There Be Another Oil Price War?

May 27, 2020 at 17:10 | Irina Slav

Two months ago, Russia said no to Saudi Arabia's proposal for deeper oil production cuts. It was enough to start a price war that, coinciding with the Covid-19 pandemic, wiped…

Have Oil Traders Abandoned Fundamentals?

May 27, 2020 at 17:07 | Nick Cunningham

Oil prices are back at levels last seen in mid-March, and while fundamentals for crude have improved somewhat, markets have become too optimistic Market euphoria continues to push financial markets…

Europe’s Gas Glut Could Hit Global LNG Market Hard

May 27, 2020 at 14:48 | Vanand Meliksetian

Unquestionably the current global health situation is going to cause a severe economic crisis not seen since the Great Depression. This is already apparent in the dramatic decrease in demand…

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