Bank of China Ltd. customers learned an $85 million lesson on the perils of speculating on crude oil this week. Hundreds of angry retail investors have flooded onto the internet to protest against Continue Reading
China is buying cheap oil to fill its strategic oil reserves–a move that could save the oil industry. But can it really save the entire global oil industry? Some say Continue Reading
A nationwide ban by Indonesia, the region’s largest buyer of gasoline, on seasonal travel for Ramadan will significantly add to downward momentum in the already bearish motor fuel market, industry Continue Reading
At a Publix store in St. Petersburg, Florida, handmade signs limit customers to two packages of beef, pork and Italian sausage. In Toronto, shoppers at a west end Loblaws can’t Continue Reading
An historic crash in crude prices is driving U.S. shale into full-on retreat with operators halting new drilling and shutting in old wells, moves that could cut output by 20% Continue Reading
Oklahoma’s energy regulator on Wednesday ruled in favor of an oil company’s emergency application to classify unprofitable production as economic waste, enabling producers to maintain leases when output is halted Continue Reading
The prices of actual barrels of multiple crude streams in Europe, Asia and Africa have plunged to as little as $5 a barrel, dragging down the entire physical oil market and Continue Reading
Millions more are expected to be added to the jobless count. As the economic toll from the coronavirus pandemic mounts, the federal government is expected to report on Thursday that Continue Reading
Automakers are headed for a less-drastic U.S. sales collapse than feared, according to market researchers. Retail sales to consumers are down about 50%, a drop-off that wouldn’t be as steep as Continue Reading
Concerns are growing that any economic recovery later this year could prove short-lived because of a deadly resurgence of the coronavirus and a spike in bankruptcies and defaults, a wicked Continue Reading
