Article Archive | Page 700

Mar 23, 2020 at 12:05

Right after Saudi Arabia-led OPEC and Russia broke up their pact to keep oil supply and prices in check, some in the U.S. oil industry were optimistic that oil prices…

Mar 23, 2020 at 10:58

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.

Mar 23, 2020 at 10:08

Saudi Arabia could book a budget deficit of as much as $61 billion this year under the double blow of the coronavirus pandemic and the global oil glut,…

Mar 23, 2020 at 09:08

Amid crashing oil prices, oil firms are rushing to cut budgets and exposure to the most prolific shale basin in the United States, the Permian, yet industry bodies expect the shale…

Mar 20, 2020 at 17:32

U.S. President Donald Trump is facing increasing calls from some U.S. senators and congressmen to pressure Saudi Arabia into ending the oil price war, with one of his…

Mar 20, 2020 at 17:27

Russia sees a silver lining in the oil price collapse—it now believes that the oil price war will help it win the war for natural gas market share…

Mar 20, 2020 at 17:05

The U.S. shale industry is burning through cash so fast that even the state of Texas is looking at government rationed production targets.  Texas Railroad Commissioner…

Mar 20, 2020 at 17:02

Saudi Arabia and Russia must have anticipated an oil price crash when they broke up their three-year-long bromance to push up oil prices.    Two weeks later…

Mar 20, 2020 at 16:58

The SARS CoV2 virus that is behind the COVID-19 pandemic has finally ravaged the United States, and cities and states are reacting to its brutality by shutting stuff…

Mar 20, 2020 at 16:57

Among the world’s 20 biggest oil-producing countries, there’s only one that has--as far as anyone really knows--escaped the coronavirus, but it’s got problems that are just as big. …

Mar 20, 2020 at 16:47

The COVID-19 pandemic has shaken energy markets to the core this year, creating incredible volatility for fuel prices. The one energy source that hasn’t blinked though is coal,…

Mar 20, 2020 at 16:45

Various reports hit the news feeds today quoting a deliberately headline-grabbing statement by Paul Sankey, managing director at Mizuho Securities, in which he is reported as saying, “Oil…

Mar 20, 2020 at 16:42

Azerbaijan says it has proven an oil deposit in the Caspian Sea is commercially viable, offering a small psychological boost as the country’s oil-based economy…

Mar 20, 2020 at 16:39

Russia will not be the one to first demand a stop to the oil price war with Saudi Arabia because Russian President Vladimir Putin is unlikely to yield to what…

Mar 20, 2020 at 16:57

Since 2016, as an informal leader of the 13-strong non-OPEC group, Russia has been instrumental in the pricing of oil as Saudi Arabia, leading producer in the Organization…

Mar 20, 2020 at 16:27

Legendary oil trader Andy Hall is happy to be out of the oil market, which he sees as a ‘broken’ commodity on the road to demise in the long term.…

Mar 20, 2020 at 12:45

The rebound in oil prices on Thursday didn’t last long as bearish sentiment once again took hold on Friday morning, with some analysts contemplating the possibility of $5 WTI. 

Mar 20, 2020 at 12:49

Baker Hughes reported that the number of oil and gas rigs in the US plummeted this week by 20­, falling to 772, with the total oil and gas rigs clocking…

Mar 20, 2020 at 11:53

Global oil demand is set to plunge by more than 10 percent from the typical 100-million-bpd consumption, as the raging coronavirus pandemic forces countries into lockdown, according to the world’s…

Mar 20, 2020 at 12:04

Crude oil futures are set to finish the week sharply lower despite a two-day counter-trend rally on Thursday and Friday. The price action suggests that even tremendous levels of monetary…