Norway’s state-controlled Equinor on Monday raised the expected ‘plateau production’ target for the first phase of its Johan Sverdrup field to 470,000 b/d, from 440,000 b/d previously, and said it Continue Reading
Oil declined for a fifth straight week amid a one-two punch from collapsing demand due to the coronavirus crisis and ballooning supply from producers vying for market share. Futures in New Continue Reading
Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world. d Both Continue Reading
The brief rebound in oil prices was never going to last in the current environment, and as the global crude glut nears historic highs, prices are heading towards $20 Markets Continue Reading
In an obscure corner of the American physical oil market, crude prices have turned negative — producers are actually paying consumers to take away the black stuff. The first crude Continue Reading
Some of the world’s major oil traders are looking to take advantage of the abnormally low oil prices, Reuters reported on Friday, citing shipping sources, as WTI falls below $22 Continue Reading
There’s more evidence finally surfacing in the media of the dire energy predicament the world is now facing. The negative ramifications of peak oil and the falling EROI were going Continue Reading
he first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement Continue Reading
The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the Continue Reading
Several oil-producing nations woke up to lower credit ratings from S&P amid the latest oil price rout, Reuters reports, listing Oman, Nigeria, Mexico, Angola, and Ecuador among those downgraded and Continue Reading
