Oil prices fell on Wednesday on persistent worries about oversupply amid global coronavirus-related lockdowns and as the International Monetary Fund (IMF) warned of a deep recession. Brent futures LCOc1 were Continue Reading
Global oil demand is expected to fall by a record 9.3 mb/d year-on-year in 2020. The impact of containment measures in 187 countries and territories has been to bring mobility Continue Reading
Global oil demand is expected to fall by a record 9.3 million barrels a day this year as government-implemented lockdowns keep the economy at a near standstill, the International Energy Continue Reading
The International Energy Agency said Wednesday that it expects global refinery throughput to decline by 7.6 million b/d this year to 74.3 million b/d “on sharply reduced demand for fuels.” Continue Reading
Oil fell below $20 a barrel after the International Energy Agency said demand would slump by a record this year despite a historic production cut deal. Futures fell as much as 4.5% Continue Reading
The American Petroleum Institute (API) estimated on Tuesday another large crude oil inventory build of 13.143 million barrels for the week ending April 10 as demand destruction stemming from the Continue Reading
As if oil prices needed any more help on their downward spiral towards the teens, The IMF just slashed global growth to the worst since the ’30s. “This crisis is Continue Reading
The coronavirus crisis will exact the biggest toll on the global economy since the 1930s Great Depression and potentially hit Britain harder than the Spanish flu epidemic and first world Continue Reading
The global economy has almost certainly entered a recession affecting most of the world, with a severity unmatched by anything aside from the Great Depression, the International Monetary Fund said Continue Reading
Oman increased its crude oil and condensate production in March by nearly 13 percent from February, after the collapse of the OPEC+ deal early last month, according to data from Continue Reading
