A British Petroleum-led project in Azerbaijan will have to cut production in May for the first time as Azerbaijan will need to take drastic measures to meet its new quota Continue Reading
A series of coronavirus outbreaks at Russian oil and gas assets is forcing companies to introduce quarantines and changes to shift patterns, raising the risk that the outbreaks could hit Continue Reading
Oil extended its recovery from Monday’s plunge below zero, but trading remains volatile with the market under intense pressure from a swelling global glut. Futures in New York rose as much Continue Reading
Storage build expected to be 25 Bcf lower than five-year average Production stays relatively flat on the day at 92 Bcf The NYMEX May gas futures jumped 11.8 cents Wednesday Continue Reading
Oil recovered from a 21-year low, bucking two days of frenzied selling, but a global supply glut continues to loom over the market. Brent futures for June delivery closed 5% Continue Reading
Brent crude oil rebounded from two days of losses and U.S. futures surged on Wednesday, bolstered by tentative talk of additional supply cuts from OPEC producers and U.S. inventory builds Continue Reading
In the largest slum in Kenya’s capital, people desperate to eat set off a stampede during a recent giveaway of flour and cooking oil, leaving scores injured and two people Continue Reading
President Trump said on Wednesday that he has told the Navy to “shoot down and destroy” any Iranian fast boats that harass American naval ships, in what would be a Continue Reading
Saudi Arabia has made good on its early-March promise to flood the world with oil, but with demand collapsing and storage filling fast, the world’s top oil exporter must now Continue Reading
Saudi Arabia plans to draw down Riyals 120 billion ($32 billion) from its cash reserves, and increase borrowing this year by Riyals 120 billion, in attempt to stem the damage Continue Reading
