The Covid-19 pandemic is taking a severe impact in the economies of China, Africa’s major trading partner, and also Europe and North America. Even with Africa not suffering an outbreak Continue Reading
© Getty Images The dictatorship of Nicolas Maduro in Venezuela is about to face a perfect storm. After several days of denial, the regime has acknowledged the first cases of Continue Reading
In China, the shutdowns to contain COVID-19 have stalled so many industries and kept so many vehicles off the road that the virus has indirectly saved lives by cutting down Continue Reading
China reported a record rise in imported coronavirus cases on Friday as expatriates returned home from the United States and Europe, sparking fears of a second wave of infections just Continue Reading
South Korea on Saturday advised its public to close facilities and forgo socializing for 15 days, keeping to its policy of voluntary social distancing but warning of consequences if the Continue Reading
he U.S. government will buy 30 million barrels of oil from producers amid a financial downturn for the industry. The Department of Energy (DOE) announced Thursday it would conduct the Continue Reading
The U.S. economy may have entered a recession and Americans could see the economy shrink by an annualized 6 percent in the first quarter and an astonishing 24 percent in Continue Reading
Oddly named and highly powerful, the Texas Railroad Commission is weighing whether the state should curb crude production for the first time in almost half a century. At issue is Continue Reading
Oil drilling in the Permian Basin plunged to its lowest level since the nadir of the last crude-market slump in early 2016. Explorers idled 13 rigs this week in the most-prolific North Continue Reading
Stocks sank to their worst week since the financial crisis of 2008 as traders went into full retreat out of fear that the coronavirus will plunge the U.S. and other Continue Reading
It is the last coal-fired power plant in New York State. White steam trails from its smokestack like a banner flying in the wind, visible for miles across flat farm Continue Reading
Baker Hughes reported that the number of oil and gas rigs in the US plummeted this week by 20, falling to 722, with the total oil and gas rigs clocking Continue Reading
The federal government of Canada is preparing a multibillion dollar financial aid package for the oil and gas industry and could announce it as soon as next week, the Globe Continue Reading
As crashing oil prices hit U.S. oil and gas companies, one Texas lawmaker is asking the Department of the Interior to reduce the royalties that firms pay for oil and Continue Reading
The CEOs of six wind and solar development companies speaking on a webcast Friday all agreed that “uncertain” was the best word to use in answering questions about where the Continue Reading
Shale drillers continue to dramatically scale back their spending, but they’re only moderately reducing their crude production volumes as Texas discusses mandatory cutbacks in oil barrels. Receive daily email alerts, Continue Reading
As if the market crash threating their jobs wasn’t stressful enough, workers in Canada’s oil-sands are bracing for the coronavirus to upend life in the remote camps where they’re lodged. One Continue Reading
American Airlines Group Inc. is launching its first scheduled cargo flight since 1984 on Friday, with two round-trip flights over four days between Dallas-Fort Worth International Airport and Frankfurt on Continue Reading
America plunged into a deeper state of disruption and paralysis on Friday as New York and Illinois announced a broad series of measures aimed at keeping tens of millions of Continue Reading
The U.S. economy is deteriorating more quickly than was expected just days ago as extraordinary measures designed to curb the coronavirus keep 84 million Americans penned in their homes and Continue Reading
GM and Ventec Life Systems , in cooperation with StopTheSpread.org , the US’ coordinated private sector response to COVID-19, are collaborating to enable Ventec to increase production of its multi-function Continue Reading
Initial tests of in-road charging for electric trucks on a stretch of Swedish road have been successful, according to project managers. The scope of testing will now increase, encompassing more Continue Reading
Refining operations in Europe and elsewhere in the world are being curtailed as gasoline and jet fuel demand is falling off a cliff due to the enormous demand destruction in Continue Reading
Russia will not be the one to first demand a stop to the oil price war with Saudi Arabia because Russian President Vladimir Putin is unlikely to yield to what Continue Reading
Oil prices rose by more than $2 on Friday, building on gains in the previous session after U.S. President Donald Trump hinted he may intervene in the price war between Continue Reading
Crude oil futures were mixed in mid-morning trade in Asia Friday after prices surged overnight on US President Donald Trump announcing he would support the US oil industry, while broader Continue Reading
Oil surged the most ever in New York as the U.S. president said he could get involved in the standoff between Saudi Arabia and Russia that has rocked crude markets. U.S. Continue Reading
U.S. crude oil prices spiked by 25% on Thursday, the largest single-day gain on record, recouping some losses from three days of selling that drove the benchmark to near 20-year Continue Reading
One might reasonably posit that when Crown Prince Mohammed bin Salman (MbS) signalled that Saudi Arabia was once again going to produce oil to the maximum to crash oil prices Continue Reading
How bad is too bad for oil markets? As prices barrel toward the lowest levels since the start of the century, negative prices have re-entered the realm of possibility. U.S. oil Continue Reading
Oil traders struggling to navigate one of the biggest oil crashes in history say the worst is yet to come. Even after plunging about 60% this year to the lowest since Continue Reading
The global oil and gas industry has slashed at least $31 billion from investment budgets after crude’s epic price crash this month, and more cuts are likely to come. Producers are quickly Continue Reading
This month’s unprecedented oil crash has sent shockwaves through the entire energy industry and beyond. It’s even gotten to industries that, in theory should be dancing on oil’s grave, but, Continue Reading
Greenland lost 600 billion tons of ice last summer due to an exceptionally warm season, according to a study released Wednesday. Last summer’s ice loss in Greenland is enough to Continue Reading
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
Iran’s Supreme Leader Ayatollah Ali Khamenei, in a speech on state television for the Persian New Year, praised Iranians for their “dazzling” sacrifices in fighting the coronavirus outbreak in the Continue Reading
The Trump administration this week sent a stark message to Iran in three new rounds of sanctions: The U.S. won’t ease its economic pressure campaign even as the coronavirus pandemic Continue Reading
Petronas issued the following statement about the Gharraf evacuation Wednesday evening: In view of the COVID-19 pandemic and as a precautionary measure to ensure the health, safety and well-being of Continue Reading
Some gasoline stations in Venezuela were unusually empty on Wednesday, as regional authorities banned queuing for gasoline as part of a nationwide quarantine to contain the spread of the coronavirus. Continue Reading
“There is a lot of relief that China is waking up after a long hiatus,” said George Lazaridis, head of research at Greece-based Allied Shipbroking. “But what happens if truck Continue Reading
Fears that the coronavirus will lead to widespread unemployment and a spike in consumer defaults have wiped more than two-thirds from the value of US credit card lenders and left executives Continue Reading
Treasury Secretary Steven Mnuchin said he will recommend President Donald Trump ask Congress for as much as $20 billion to keep the Strategic Petroleum Reserve full for a decade. “Let’s go out Continue Reading
Texas regulators are considering curtailing oil production in America’s largest oil-producing state, something they haven’t done in decades, people familiar with the matter said. Several oil executives have reached out Continue Reading
With West Texas Intermediate below $30 a barrel and Saudi Arabia’s plans to keep pumping as much as it can for as long as it can, the U.S. oil industry Continue Reading
Conventional wisdom dictates that water and oil do not mix–at least for those of us who are not MIT engineers . But a new discovery could soon turn that clichéd Continue Reading
While U.S. crude oil imports from OPEC and Mexico have slumped over the past decade and a half, crude imports from Canada have more than doubled due to the price Continue Reading
Tesla Inc said on Thursday it will suspend production at its San Francisco Bay Area vehicle factory on March 24, ending a standoff with California authorities concerned about the spread Continue Reading
California ordered its 40 million residents to stay at home except for essential activities beginning Thursday night in the largest such lockdown in the U.S., as the nation’s total coronavirus Continue Reading
The Trump administration asked states to abstain from releasing unemployment-claims figures prior to the publication of a national compilation of weekly U.S. jobless claims, according to a state labor department Continue Reading
WTI dropped into the low $20s on Wednesday, and the near-term outlook is grim. Oil lobbyists have pushed Congress for help, and a group of Republican Senators pleaded in a Continue Reading
