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Saudi Arabia Is Ignoring U.S. Pressure

Saudi Arabia Is Ignoring U.S. Pressure

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News

Here’s What Oil Traders Are Doing To Profit From Ultra-Low Oil Prices

Here’s What Oil Traders Are Doing To Profit From Ultra-Low Oil Prices

Mar 27, 2020 at 16:25 | Julianne Geiger

Some of the world’s major oil traders are looking to take advantage of the abnormally low oil prices, Reuters reported on Friday, citing shipping sources, as WTI falls below $22 per…

Price War Hits Africa’s Largest Oil Producer

Price War Hits Africa’s Largest Oil Producer

Mar 27, 2020 at 15:23 | Tsvetana Paraskova

Caught in the Saudi-Russian oil price war, Africa’s largest oil producer, Nigeria, has discounted deeply its crude and aims to pump as much as it can, trying to retain customers…

Egypt Sentences Five People To Death For Deadly Oil Pipeline Explosion

Egypt Sentences Five People To Death For Deadly Oil Pipeline Explosion

Mar 27, 2020 at 15:08 | Tsvetana Paraskova

An Egyptian criminal court sentenced this week five people to death for oil pipeline damage that killed nine people in November, Egyptian media report. Five other people who were involved…

Iraq Wants 30% Capex Cut From Foreign Oil Firms

Iraq Wants 30% Capex Cut From Foreign Oil Firms

Mar 27, 2020 at 13:54 | Tsvetana Paraskova

Iraq, one of the oil producers worst hit by the oil price crash, is proposing that all foreign oil firms operating in OPEC’s second-largest producer cut their budgets by 30…

Chinese Oil Giant Is Slashing Spending

Chinese Oil Giant Is Slashing Spending

Mar 27, 2020 at 13:51 | Tsvetana Paraskova

China's biggest oil and gas producer PetroChina said it would adjust its previously approved capital expenditure (CAPEX) for this year as Chinese state oil majors join other oil firms in…

Trump Relaxes Environmental Regulations To Counter Coronavirus Impact

Trump Relaxes Environmental Regulations To Counter Coronavirus Impact

Mar 27, 2020 at 11:54 | Michael Kern

As the COVID-19 outbreak continues to weigh on the global economy, the Trump administration has quietly relaxed regulatory measures meant to protect the…

Russia Sees Oil Market Balance In 2021

Russia Sees Oil Market Balance In 2021

Mar 27, 2020 at 11:39 | Tsvetana Paraskova

The global oil market could return to balance in at least one year, all things being equal as-is, Russian Deputy Energy Minister Pavel Sorokin said at a forum in Russia on…

LNG Producers Dump Spot Cargoes On Oversupplied Market

LNG Producers Dump Spot Cargoes On Oversupplied Market

Mar 27, 2020 at 10:28 | Irina Slav

Amid plunging gas demand, LNG producers are under pressure to dump their cargoes on the spot market, further depressing already low prices, Reuters reports, citing commodity trading sources. “We’re seeing…

IEA Boss Warns Demand Will Plunge By 20 Million Barrels Per Day

IEA Boss Warns Demand Will Plunge By 20 Million Barrels Per Day

Mar 26, 2020 at 16:28 | Julianne Geiger

Global oil demand could fall by about 20 million barrels per day, EIA’s Executive Director, Fatih Birol said in a Thursday press briefing, according to Bloomberg. As 3 billion people…

China’s Coal Rush Causes Global Capacity To Rise For The First Time Since 2015

China’s Coal Rush Causes Global Capacity To Rise For The First Time Since 2015

Mar 26, 2020 at 15:23 | Tsvetana Paraskova

The world’s net capacity additions of coal-fired power generation rose in 2019 for the first time since 2015, due to a surge in the Chinese coal fleet, a new report from…


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