As the oil industry continues to struggle with oil price shocks, the U.S. Energy Information Administration reported a crude oil inventory build of 1.6 million barrels for the week to Continue Reading
The world may soon run out of space to store its extra oil as Saudi Arabia prepares to increase its fossil fuel production even as global demand for energy continues Continue Reading
As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are Continue Reading
The world surplus could reach 20 million barrels per day (mb/d) in the next few weeks, threatening not only to top off storage tanks everywhere, but to crash prices even Continue Reading
President Donald Trump wants America to get back to business by Easter, suggesting some efforts to slow the spread of coronavirus outbreak will no longer be needed by then, but Continue Reading
President Donald Trump wants the country open for business by mid-April, but some experts warn it’s not as easy as flipping a switch: Economies run on confidence, and that is Continue Reading
A stimulus agreement has finally been reached. The package would provide $2 trillion in funding, allocated directly to the White House’s plan which includes purchasing 77 million barrels of oil Continue Reading
As the new coronavirus spreads across the world, governments and scientists are bracing for a monthslong siege rather than a swift victory—one marked by shifting strategies and potentially prolonged economic Continue Reading
When Capt. Nilesh Gandhi’s oil tanker docked in coronavirus-ravaged China early last month, he understood that he would not be able to disembark and fly home as planned. He would Continue Reading
A dramatic change in oil demand coupled with an unexpected increase in production has upended the industry, Vitol’s chief executive Russell Hardy told Bloomberg in an interview. At its peak, Continue Reading
