Will the US-backed Opec+ deal help lift oil prices?
Opec agreed the biggest ever oil output cuts with the backing of Russia, the US and the wider G20 group of nations in an effort to bolster crude prices that Continue Reading
OPEC+ production cut deemed ‘insufficient’ by banks
This weekend’s emergency OPEC+ teleconference meeting that saw the 23-member alliance agree to slash production by almost 10 million b/d is regarded as insufficient by several large banks, who say Continue Reading
Saudis Slashing Oil Prices to Asia Shows Supply War Isn’t Over
Saudi Arabia might have just signed off on one of the most notable oil output deals in history, but challenges lie ahead as the kingdom faces keen competition from rival Continue Reading
OPEC+ Deal Is “Too Little And Too Late”
“The historic agreement that we saw…is only 10 mb/d. But that is only half of the story,” U.S. Secretary of Energy Dan Brouillette said on Fox Business. “When you add Continue Reading
Stigma Hampers Iraqi Efforts to Fight the Coronavirus
The doctor paused before banging on the front gate, gesturing to his companions who were wearing full hazmat suits, masks, goggles and gloves to stand back so they would not Continue Reading
Saudi Arabia Is Planning Even More Oil Production Cuts
Saudi Arabia has said that even more production cuts could be on the horizon, after sealing a 9.7 million bpd production cut over the week from the OPEC+ group, Saudi Continue Reading
India extends world’s biggest lockdown as coronavirus cases cross 10,000
India extended on Tuesday a nationwide lockdown for its 1.3 billion people until May 3 as its prime minister warned of economic sacrifices to save lives as the number of Continue Reading
India lockdown: Jet fuel consumption slumps to 5-year low on COVID-19 impact
Singapore — India’s jet fuel consumption in March fell 29.86% month on month to 484,000 mt, the lowest in over five years, amid demand destruction on account of a nationwide Continue Reading
India lockdown: Extension to prompt more oil refinery run cuts, put LNG imports at risk
India extended its countrywide lockdown until May 3 in its battle against the coronavirus pandemic, a move that would prompt refiners to cut runs further and offer more oil product Continue Reading
Brazil likely has 12 times more coronavirus cases than official count, study shows
Brazil likely has 12 times more cases of new coronavirus than are being officially reported by the government, with too little testing and long waits to confirm the results, according Continue Reading