Russia’s revenues from oil and gas will be US$39.5 billion (3 trillion rubles) lower than planned, due to the tumbling oil prices, Russian Finance Minister Anton Siluanov said on Wednesday, Continue Reading
Oil extended its slide to the lowest level in almost 17 years as the coronavirus pandemic threatens to bring the global economy to a standstill, battering demand just as supply Continue Reading
Travel bans, border closures, and recommendations for self-isolation amid the coronavirus pandemic have aggravated fears of a global recession and pushed money managers to intensify the sell off of crude Continue Reading
Oil deepened losses, dropping to the lowest level since 2016 as the coronavirus pandemic threatens to bring the global economy to a standstill, battering fuel demand at a time when Continue Reading
Oil prices fell on Monday, continuing to slide after taking major losses last week. The EIA projects that Brent will average $43 per barrel in 2020, down from $64 per Continue Reading
How long can the vicious oil-price war between Saudi Arabia and Russia last? If history is any guide, the battle will be a long one. Riyadh has waged four price wars, Continue Reading
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 Continue Reading
Oil’s plunge has stung currencies across emerging markets, and there’s probably worse to come. For oil and gas exporters, the impact has been immediate. Even Gulf states with long-standing pegs to Continue Reading
The world could run out of oil storage capacity within months, according to the biggest energy traders, as the coronavirus pandemic crushes demand for fuel at the same time as Continue Reading
The coronavirus pandemic will almost certainly trigger a global economic recession , and the recession may have already started with major economies grinding to a standstill. The U.S. government has Continue Reading
