Oil fell below $19 a barrel in New York after a wave of gloomy demand forecasts and a cratering physical market outweighed an unprecedented deal to cut output. China’s economy suffered a historic Continue Reading
ICE June Brent settled up 13 cents at $27.82/b while NYMEX May WTI settled unchanged on the day at $19.78/b. Indications of a contraction in US crude supply placed a Continue Reading
Oil closed under $20 a barrel for a second day as projections that demand will fall to a 30-year low outweighed an agreement by the world’s biggest producers to curb supply. Futures Continue Reading
The renewable energy industry has not been spared by the significant job bleed that the coronavirus pandemic caused in the world’s biggest economy. Last month alone, 106,000 people from this Continue Reading
Last month I discussed the announcement by Jeff Bezos, founder, president and CEO of Amazon — that he would commit $10 billion toward fighting climate change . The money would Continue Reading
European responses to the coronavirus have accelerated the electricity system transition by a decade, proving systems can cope with high levels of renewable energy generation, according to analysis Friday by Continue Reading
The sharp contraction in global oil demand amid lockdowns and stalled industrial activity will lead to the lowest demand for OPEC crude in more than thirty years this quarter. Global Continue Reading
2020 oil demand to fall by 6.8 mil b/d, more downside likely Call on OPEC crude to average 24.52 mil b/d this year Demand for OPEC crude to fall to Continue Reading
All OPEC data reflected in the charts below are from the April edition of the OPEC Monthly Oil Market Report. https://momr.opec.org/pdf-download/ The data in in thousand barrels per day and Continue Reading
The physical oil market, where millions of barrels of real cargoes are traded each day, needed OPEC+’s historic cuts to global crude production months ago. On Sunday, producer nations pledged Continue Reading
