S&P Global Ratings lowered its 2020 price assumptions for Brent to $40/b and WTI to $35/b and warned of possible rating actions for some producers, particularly in North America, in Continue Reading
Crude futures tumbled more than $10/b Monday as Saudi Arabia slashed official selling prices, extending a selloff that has largely been in place since late January. Receive daily email alerts, Continue Reading
Oil pared some of Tuesday’s rebound as Saudi Arabia and Russia announced large supply boosts, escalating the country’s price feud even as the coronavirus squeezes demand. Brent futures traded near Continue Reading
The oil market is heading into a whole different era now that Saudi Arabia and Russia are squaring off in an all-out oil price war following Friday’s failed OPEC+ agreement—and Continue Reading
The fall, which in some cases wiped off almost a fifth of some rig builders’ market value in a single trading session, came after news that Saudi Arabia would go Continue Reading
Global oil demand is set to drop this year for the first time since the financial crisis in 2009, the International Energy Agency (IEA) said on Monday, as it slashed Continue Reading
Oil majors will be under pressure to slash their investment plans and cut shareholder payouts this year as oil prices tumbled to multi-year lows Monday after Saudi Arabia launched a Continue Reading
Covid-19 (coronavirus) has spread beyond China and our 2020 base case global oil demand forecast is cut by 1.1 mb/d. For the first time since 2009, demand is expected to Continue Reading
The quickly spreading coronavirus has closed schools, constricted travel, shaken markets and infected more than 100,000 people. It is also already having impact on the environment: The buildup of climate-warming Continue Reading
As the coronavirus spreads rapidly across the world, China—where the outbreak began—is gradually shuddering back to life. After weeks of lockdowns, travel restrictions and manufacturing delays, some signs of normalcy Continue Reading
