This Oil Rally Won’t Last
Barring any steep jump the rest of the session on Friday, prices are heading for their eighth weekly loss in the last nine, one of the most volatile weeks in Continue Reading
Goldman Sachs Expects Another Oil Price Crash
While it may be tempting to argue that the worst is behind us for oil price given the historic collapse in WTI which crashed to negative $40 on Monday as Continue Reading
This Oil Price Rebound Is Only Temporary
The worst week in oil market history is finally coming to an end, but some analysts are suggesting there may be more pain in store as crude storage cross the Continue Reading
Behind Oil-Market Gyrations: Few Places Left to Store Unwanted Crude
The world may have to get used to oil turning up in unusual places. An enormous glut of crude sparked by the coronavirus pandemic and the resulting collapse in demand Continue Reading
“Complete and Utter Disaster” Nigeria Could See Oil Production Plunge
Nigeria’s independent oil producers are being crushed by the oil price crash, with current prices more than two times lower than the costs of local independents’ production. These small independent Continue Reading
Mexico’s Pemex Suspends Fuel Imports From U.S. As Demand Tanks
Mexico’s Pemex declared force majeure on fuel imports, which it receives from the United States, because of tanking demand, Reuters reported , citing two unnamed sources. Bloomberg quoted another unnamed Continue Reading
India eases lockdown restrictions outside known hot zones.
India eased lockdown restrictions on Friday in some parts of the country, allowing markets to reopen in rural areas and outside known hot zones, and alleviating financial stress for tens Continue Reading
Drowning in Oil, Yet Paying $10 a Gallon for Gas in Venezuela
In a week when oil futures fell below zero, everyday Venezuelans are paying more than ever for gasoline as extreme shortages fuel a booming black market. The crisis has now spread Continue Reading
Halliburton Shuts Venezuela Work as Trump Steps Up Pressure
Halliburton Co. is shutting down primary operations in Venezuela as the U.S. tightens sanctions against the Nicolas Maduro regime. “Through December 1, 2020, we are only permitted to perform certain transactions Continue Reading
China’s non-state oil quotas facilitate higher imports amid weak demand
China’s non-state oil quotas facilitate higher imports even as demand outlook remains weak In a deepening commodity crisis, Asian LNG exports remain resilient, but can this continue? Five states, representing Continue Reading