Oil clawed back some losses as Chinese manufacturing data beat expectations, but futures were still heading for the worst quarter on record as the physical market showed further signs of collapse. Futures Continue Reading
Predictions over collapsing global oil demand due to the spread of coronavirus are continuing to spiral, further depressing oil price forecasts, after the US extended its latest lockdown guidance. Brent Continue Reading
S&P Global Platts crude benchmark Dated Brent fell below $20/b Monday for the first time since February 2002. Dated Brent was assessed by Platts at $17.79/b Monday, down $3.31/b day Continue Reading
US crude oil prices fell below $20 a barrel on Monday, close to their lowest level in 18 years, as traders bet production would have to shut to cope with Continue Reading
The world’s oil market once fixated on how Saudi-led Opec would tweak supply in small increments to boost prices. That concern suddenly feels quaint: the size of the global drop Continue Reading
Plunging demand, surging supply, and strained storage capacity have put so much downward pressure on oil prices that producers are now considering shutting-in oil wells. The magnitude of these en Continue Reading
The unprecedented oil demand plunge in the COVID-19 pandemic is poised to change the oil sector forever, as fewer companies holding high-quality assets emerge after the downturn, Goldman Sachs said Continue Reading
Global capital expenditure (capex) for exploration and production firms (E&Ps) is expected to drop by up to $100 billion this year, about 17% versus 2019 levels, under Rystad Energy’s updated Continue Reading
Supertanker rates are surging again, for a second time this month, as a growing global glut is making more traders and companies look to charter carriers to store oil at Continue Reading
“In China we had a supply shock, a production shortage from closed factories and reduced truck numbers,” Jeremy Nixon, chief executive of Japan’s Ocean Network Express, the world’s sixth biggest Continue Reading
