Business activity in China turned broadly negative for the first time on record as home sales, construction activity, retail sales and factory output plunged, pushing unemployment to a record high, Continue Reading
Companies are getting closer to replacing the battery that has led the consumer-electronics revolution over the past 30 years. Solid-state batteries promise to be more compact and powerful than the Continue Reading
Singapore — Crude oil throughput at China’s domestic refineries dropped 5.4% year on year to 12.12 million b/d in January-February amid the coronavirus outbreak, which was the first year-on-year decline Continue Reading
President Trump said Friday that he would buy enough oil to fill up the Strategic Petroleum Reserve in an effort to bolster crude prices and shore up the financial condition Continue Reading
The battered U.S. oil market may have just received a lifeline from President Trump after crude prices posted the worst week since 2008 hugging the $31 per barrel level, down Continue Reading
Major energy companies in the United States imposed work-from-home rules for office staff and began health checks for remote or critical workers as coronavirus spread across the United States and Continue Reading
Global oil giants are facing ever-increasing public pressure and higher levels of scrutiny over their responsibility to curb harmful greenhouse emissions. Yet, in the sprawling oilfields of Texas, New Mexico Continue Reading
Scientists around the world are racing towards a green energy solution that is cheap, efficient, and scalable enough to replace fossil fuels before our carbon-based economy steers us past the Continue Reading
U.S. Treasury Secretary Steven Mnuchin on Sunday said he was in close touch with Congress about helping U.S. airlines weather a massive downturn in business due to sweeping travel restrictions Continue Reading
For the last five years, U.S. shale oil producers have been battling suppliers for lower costs and running equipment and crews hard to drive drilling costs down by about $20 Continue Reading
U.S. equity futures tumbled by their limits and Treasuries surged at the start of what’s set to be another volatile week, with investors responding to the rapidly escalating economic hit Continue Reading
Until just a few weeks ago, Russian President Vladimir Putin was promising Russians their stagnant incomes would finally pick up along with the economy this year. But his oil market Continue Reading
Last week OPEC conducted meetings with a coalition of partners that have worked together to limit oil production since 2016. It was widely reported that the group hoped to come Continue Reading
European shares tumbled more than 8% on Monday as the coronavirus pandemic raged through much of Europe, with dramatic monetary easing by global central banks failing to reassure investors about Continue Reading
The coronavirus pandemic will plunge the European Union into recession this year, the EU’s internal market Commissioner Thierry Breton said, estimating the bloc’s economy risked a 2-2.5% hit. The outbreak Continue Reading
There’s 1,000 miles and a body of water between Mark McGowan and the Italian epicenter of Europe’s coronavirus outbreak. He may as well be next door. His 16-room hotel, the Scholars Continue Reading
Oil posted the biggest weekly plunge since 2008, capping its most dramatic week in recent memory as major producers prepare to drench the market with supply just as the coronavirus Continue Reading
Wall Street roared back from its worst day in 30 years Friday with a broad rally that sent the Dow Jones Industrial Average nearly 2,000 points higher — its biggest Continue Reading
Oil prices on Friday posted their worst week since the 2008 global financial crisis, rocked by the coronavirus outbreak and efforts by top exporter Saudi Arabia and its allies to Continue Reading
Oil futures surged in aftermarket trading after US President Donald Trump said the US would purchase crude to fill its Strategic Petroleum Reserve. Front-month Brent and WTI, which had settled Continue Reading
The oil-price war between Saudi Arabia and Russia is set to unleash the biggest flood of crude ever seen, perhaps more than the world can even store. As producers ramp up Continue Reading
Oil prices will likely remain at current depressed levels for months amid a price war and the fight for market share while the coronavirus outbreak batters oil demand, a Reuters Continue Reading
Oil prices have fallen nearly 50 percent since the start of the year and the short-term outlook isn’t looking very promising as OPEC and Russia continue to boost supply. It Continue Reading
The world is significantly falling short when it comes to efforts to curb climate change, according to a new report released Tuesday by the World Meteorological Organization. The intergovernmental organization’s Continue Reading
America’s simmering confrontation with Iran heated up again this week, with an exchange of deadly attacks between an Iranian-backed militia and U.S. forces in Iraq. U.S. commanders warn that the conflict Continue Reading
Multiple rockets fell on Saturday morning inside Iraq’s Taji military base that houses U.S.-led coalition troops, for the second time in a week, security sources told Reuters. An Iraqi colonel Continue Reading
Iraq condemned overnight U.S. airstrikes on Friday, saying they killed six people and warning of dangerous consequences for what it called a violation of sovereignty and targeted aggression against the Continue Reading
Saudi Arabia is flooding markets with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in Europe and Asia, in an escalation of Continue Reading
To do that, China relied on mandates from central authorities against hoarding and profiteering. Private companies, including JD.com Inc. and Walmart Inc., rerouted trucks and located supplies that otherwise might Continue Reading
Leaner days are back in the oil patch of South Texas. Once-busy roads are empty except for the workers repairing the potholes from the damage done by truck traffic in Continue Reading
There is a high likelihood that the United States will enter a recession in 2020. In fact, one may have already started. America is shutting down at lightning speed as Continue Reading
Baker Hughes reported that the number of oil and gas rigs in the US fell this week by 1 to 792, with the total oil and gas rigs clocking in Continue Reading
The US government will take advantage of low oil prices and buy “large quantities” of crude to fill the Strategic Petroleum Reserve, President Donald Trump said Friday. “We’re going to Continue Reading
Four more E&P producers have joined the lineup of oil companies that are slashing 2020 capital budgets and cutting back activity, as oil prices hover at low levels not seen Continue Reading
President Donald Trump has directed the U.S. Energy Department to buy “large quantities” of oil for the government’s strategic petroleum reserve following this week’s crash in oil prices. “We’re going Continue Reading
The U.S. economic outlook hangs in large part on whether business leaders respond to the new coronavirus crisis as they have with many past shocks: by laying off masses of Continue Reading
The Trump administration intends to buy tens of millions of barrels of oil for storage in the caverns of the US Strategic Petroleum Reserve, using a safeguard against fuel shortfalls Continue Reading
President Trump declared a national emergency on Friday over the coronavirus pandemic and announced steps he said would speed the availability of testing, and early Saturday, the House passed a Continue Reading
Officials at the U.S. Centers for Disease Control and Prevention and epidemic experts from universities around the world conferred last month about what might happen if the new coronavirus gained Continue Reading
Much of life in America, and across the globe, has ground to a near halt in recent days as the coronavirus spreads, closing schools, thwarting travel, forcing employees to telework Continue Reading
The companies that feed America and provide basic staples are bracing for labor shortages as the novel coronavirus pandemic intensifies, which could leave them without enough workers to manufacture, deliver and Continue Reading
At the State of the Union in February, President Trump boasted that his administration’s deregulatory agenda had made the U.S. “energy independent.” It was a dubious claim at the time, Continue Reading
Russia’s oil-market war with Saudi Arabia is part of a strategic campaign to cripple U.S. shale-oil production, a powerful economic tool that increasingly allows Washington to advance its foreign policy Continue Reading
UK government to introduce Finance Bill 2020 Set to include UK carbon market, carbon tax legislation UK ETS could include cost containment, auction reserve price The UK government is set Continue Reading
Emergency doctors in Italy, the European epicentre of the coronavirus pandemic, were this week given guidance on “catastrophe medicine”. As the number of patients requiring intensive care balloons and hospitals Continue Reading
Just last weekend, about 120,000 people marched through downtown Madrid to celebrate International Women’s Day. Some 60,000 soccer fans filled one of the city’s largest stadiums. And 9,000 supporters of Continue Reading
Russian oil firms plan to raise their oil production from April and they are comfortable with the current oil prices and even lower, oil executives said after meeting this week Continue Reading
Oil prices were set for their worst weekly drubbing since the 2008 financial crisis, despite rising over 3% on Friday, as investors fretted over evaporating demand from the coronavirus pandemic Continue Reading
Crude oil futures fell in midmorning trade in Asia Friday as bearish demand and supply indicators continued to underpin market outlook. At 10:30 am Singapore time (0230 GMT), ICE Brent Continue Reading
The oil market is headed for its largest weekly collapse since 2008 as a bitter price war erupted between OPEC and its allies, and demand cratered from the coronavirus outbreak. Futures Continue Reading
