Article Archive | Page 704

Mar 17, 2020 at 14:52

Plummeting oil prices have been the focus of attention ever since Saudi Arabia and Russia fired the first shots in what analysts see as a potentially devastating oil price war.…

Mar 17, 2020 at 14:24

Oil prices fell on Monday, continuing to slide after taking major losses last week.  (Click to enlarge)…

Mar 17, 2020 at 13:59

After having instructed Aramco to boost production to unseen levels, Saudi Arabia now plans to boost oil exports in May to a record 10 million barrels per day, causing oil…

Mar 17, 2020 at 12:55

While the headlines for the last few weeks have been a lot of COVID-19 related doom and gloom, one study has really stood out. It turns out that there is…

Mar 17, 2020 at 11:17

The coronavirus pandemic and collapsing oil prices will slash the oil and gas revenues of vulnerable oil-reliant developing economies by up to 85 percent, the heads of OPEC and the…

Mar 17, 2020 at 10:18

Under any other circumstances, air carriers would be happily popping champagne corks after the latest massive oil price slump. After all, fuel typically accounts for up to 20% of an…

Mar 17, 2020 at 10:04

Morgan Stanley further cut its oil price forecast, now expecting Brent crude to average $30 a barrel during the second quarter, from $35 a barrel earlier. Reuters quoted the…

Mar 16, 2020 at 18:00

As major economies go into lockdown, oil demand continues to fall off a cliff. On Monday, WTI fell into the $20s. “The additional quarantine measures imposed in France, Spain…

Mar 16, 2020 at 16:45

Saudi Arabia will continue to pump oil at increased levels through May, Saudi Aramco Chief Executive Amin Nasser said on Monday during an earnings call, according to Reuters. Nasser added…

Mar 16, 2020 at 14:45

Rosgeologia’s seismic surveys and other related work since the 70s to now indicate that there is at least 513 billion barrels of oil and gas equivalent in Antarctica,…

Mar 16, 2020 at 14:27

Investment professionals on Wall Street spend their days reading financial reports and looking at numbers flash on screens. These numbers record the moment-to-moment changes in the collective wisdom of markets…

Mar 16, 2020 at 14:23

As markets brace for yet another week of total liquidation (even gold fell below $1500), oil drillers are preparing for the worst. Last time crude traded this low, back in…

Mar 16, 2020 at 14:00

With Saudi Arabia and Russia pumping flooding the market with oil as coronavirus threatens demand, oil prices have crashed below the $30 mark. It is a price crash that could…

Mar 16, 2020 at 12:33

According to a number of cognitive scientists, mankind uses its unique ability to reason primarily for justifying pre-held convictions, rather than for forming convictions. It is of…

Mar 16, 2020 at 12:00

As Saudi Arabia and Russia began an all-out oil price war for market share, the shipping industry is going through a supertanker run and charter rates for very large crude…

Mar 16, 2020 at 11:06

Attempts by some OPEC members to mediate between the cartel’s leader, Saudi Arabia, and Russia have failed and this Wednesday’s meeting of an OPEC+ technical committee has been scrapped amid…

Mar 16, 2020 at 09:13

The oil market is heading for the largest ever crude glut in the first half of 2020, which could be two to nearly four times bigger than the biggest surplus…

Mar 15, 2020 at 22:54

The Federal Reserve took yet another bold action on Sunday evening, announcing that the central bank would be slashing interest rates to zero percent. But the markets weren't impressed, with…

Mar 13, 2020 at 18:27

Those with a functioning memory may have thought that last week’s decision by Saudi Arabia to maximise oil production to crash oil prices and bankrupt U.S. shale…

Mar 13, 2020 at 18:24

The recent plunge in oil prices has put the financially ravaged U.S. shale industry in the spotlight over the past week, but the market downturn will blow a hole…