Tanker Rates Explode As Markets Brace For Record Oil Glut
The largest oil supply surplus the world has ever seen in a single quarter is about to hit the global market from April, creating an imbalance of around 10 million Continue Reading
U.S. to send senior official to Saudi Arabia for months to help deflate oil price war
The United States believes Saudi Arabia’s flooding of global oil markets compounds the global economic crash at a time of a crisis caused by coronavirus and intends to send a Continue Reading
OPEC-Shale Peace Prospects Crumble Hours After Historic Call
Just hours after one of the most powerful officials in the biggest U.S. oil state was invited to OPEC’s inner sanctum in June, propspects for a rapprochement between two historically Continue Reading
OPEC, U.S. Shale Producers Open Talks Amid Oil Rout
U.S. oil industry regulators opened a dialogue with OPEC in talks that could help foster a truce between the world’s three largest oil producers and potentially resolve a Saudi-Russian price Continue Reading
OPEC+ losses influence on the market, but participants should continue to talk: Sechin
Rosneft CEO Igor Sechin said Friday that OPEC+ has lost its ability to influence the market, but the world’s biggest oil producers should continue to talk. Receive daily email alerts, Continue Reading
OPEC, U.S. Shale Producers Open Talks Amid Oil Rout
U.S. antitrust laws prevent a formal deal and there is no suggestion the two sides would coordinate on production decisions. But the Texas regulator is considering curtailing output in America’s Continue Reading
Do Saudi Arabia And Russia Really Want To Kill U.S. Shale?
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 of Petroleum Continue Reading
U.S. to Iran: Coronavirus won’t save you from sanctions
The United States sent Iran a blunt message this week: the spread of the coronavirus will not save it from U.S. sanctions that are choking off its oil revenues and Continue Reading
Rouhani urges Americans to call on U.S. to lift sanctions as Iran fights coronavirus: state media
Iranian President Hassan Rouhani on Friday urged Americans to call on the U.S. government to lift sanctions as Iran fights the worst coronavirus outbreak in the Middle East, state media Continue Reading
Iran president expects coronavirus restrictions to ease within three weeks
Iranian President Hassan Rouhani said on Saturday that social distancing measures to combat the coronavirus outbreak in the country, including travel restrictions, will apply for only two to three weeks Continue Reading