Saudi Arabia Starts Production Cuts Ahead Of OPEC+ Deal
OPEC’s top producer and the world’s top oil exporter, Saudi Arabia, has already started cutting its oil production ahead of the official start of the new OPEC+ pact on May Continue Reading
US extends Iraq’s sanctions waiver for Iranian power imports by another 30 days
Iraq can import Iranian electricity without the risk of sanctions for another 30 days, the US State Department said Sunday in extending a key waiver, despite some predictions that the Continue Reading
Trump Could Use ‘Nuclear Option’ To Make Saudi Arabia Pay For Oil War
President Donald Trump is considering all options available to him to make the Saudis pay for the oil price war as the crash that followed has done significant damage to Continue Reading
Oil Slump, Coronavirus Create a Perfect Storm for Nigeria’s Economy
The crash in oil prices and the economic fallout from the coronavirus together pose what could be an existential threat for Africa’s largest economy and biggest crude producer. Nigeria, a Continue Reading
Oil Majors May Be Forced To Cut Crude Output In Nigeria
Africa’s largest oil producer, OPEC member Nigeria, has yet to figure out how and from where to cut production as part of the OPEC+ deal, and this has led to Continue Reading
Venezuela appoints alleged drug trafficker El Aissami as oil minister
Venezuelan President Nicolas Maduro on Monday appointed his economy vice president, Tareck El Aissami, who has been indicted in the United States on drug trafficking charges, as oil minister, amid Continue Reading
Is Brazil the next big hot spot as other nations ease up?
Brazil is emerging as potentially the next big hot spot for the coronavirus amid President Jair Bolsonaro’s insistence that it is just a “little flu” and that there is no Continue Reading
Pemex Pulls Staff From Offshore Oil Platforms Over Coronavirus
Mexico’s state-held oil firm Petroleos Mexicanos (Pemex) said on Sunday that it had started to reduce the number of oil workers at its offshore oil platforms to reduce the risk Continue Reading
Tough Sanctions Force Halliburton To Suspend Most Operations In Venezuela
Halliburton will suspend most of its operations in Venezuela, the company said, after Washington tightened the noose around Caracas by banning U.S. oil companies operating in the country from drilling Continue Reading
China construction projects resume in sign of economic reopening
Chinese manufacturers of construction machinery have raised prices as sales take off, in an early sign of how economic activity is resuming after weeks of shutdown during the coronavirus epidemic. Some Continue Reading