US President Donald Trump and Russian President Vladimir Putin agreed on Monday to have energy officials from both countries discuss the dire state of the global oil market, the Kremlin Continue Reading
Two of the biggest drillers in America’s largest oil-producing state have asked Texas regulators to consider a cut to crude output after a historic price crash. (Bloomberg) — Two of Continue Reading
Russian President Vladimir Putin discussed the situation on global oil markets with his US counterpart, Donald Trump, Monday, according to a statement issued by the Kremlin press service. “There was Continue Reading
The ski pistes are open, the restaurants are doing ample business and the malls are awash with shoppers. Welcome to Sweden, the last holdout among the small number of Western Continue Reading
NYMEX WTI futures were testing the $20/b level soon after the start of trading Sunday evening as demand outlooks dimmed amid further intensification of to COVID-19 pandemic despite stepped-up global Continue Reading
Crude oil fell sharply on Monday, with U.S. crude briefly dropping below $20 and Brent hitting its lowest level in 18 years, on heightened fears that the global coronavirus shutdown Continue Reading
Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus. Futures in London fell as Continue Reading
The global oil market is broken, overwhelmed by an unmanageable surplus as virus lockdowns cascade through the world’s largest economies. Onshore tanks in many markets are full, forcing traders to store Continue Reading
Iraq, OPEC’s second-largest oil producer, is selling its crude at an average of $20/b and plans to talk to international oil companies about their payments and contracts, the country’s oil Continue Reading
The rush to what is essentially a new wartime footing began consciously and urgently in the first quarter of 2020 between some of the most powerful geopolitical players of the Continue Reading
