Mexican standoff imperils proposed 10M-barrel OPEC+ oil cut
A deal between OPEC and nations including Russia to boost oil prices involves a 10 million barrels per day cut until July, then an 8 million barrels per day cut Continue Reading
Other oil producers will cut 5 million b/d on top of OPEC+ cut of 10 million b/d: Novak
Russian energy minister Alexander Novak said Friday that OPEC+ expects producers outside the group to cut another 5 million b/d of crude production in May and June, in an interview Continue Reading
OPEC+ gets no oil cut help from the US, as G20 energy talks continue
The world’s biggest economies were poised Friday to endorse the largest coordinated oil production cut in history to combat the coronavirus pandemic’s market meltdown. Receive daily email alerts, subscriber notes Continue Reading
OPEC Meeting News: The Surprise Holdout to a Global Deal
One of the most dramatic global oil production agreements in history has been left hanging on the approval of an unlikely character: Mexican President Andres Manuel Lopez Obrador. For weeks Russia Continue Reading
Industrialized Nations Fail to Come Up With Oil-Market Fix
A virtual summit of Group of 20 energy ministers failed on Friday to devise a detailed plan to help resolve an unprecedented oil glut partly triggered by the coronavirus pandemic. Some producers continue Continue Reading
Where Does Oil Go After The Largest Production Cut In History?
Right now, it is understandably difficult for anything to interrupt the coronavirus news cycle, even in the focused world of energy and commodities. This week, however, one thing managed to Continue Reading
Aircraft emissions fall sharply as pandemic grounds flights FT analysis finds pollution around the world from planes down by almost a third
Aeroplane emissions fell by almost a third last month as the coronavirus lockdown grounded flights around the world, a drop in emissions equivalent of taking about 6m cars off the Continue Reading
Rare voices from Iran’s epic coronavirus outbreak tell of stumbling government, deluged hospitals
Iran has been struck by one of the most severe coronavirus outbreaks in the world, but the voices of Iranians affected by the pandemic have remained largely unheard outside the Continue Reading
Argentina’s Shale Boom On Hold As Oil Prices Collapse
Argentina’s state-held energy firm YPF slashed by 50 percent the oil production from its key development area in the vast Vaca Muerta shale play this week due to tumbling fuel Continue Reading
US Treasury Department extends Citgo waiver for Venezuela’s PDVSA
The US Treasury Department Friday again extended for three months a waiver preventing creditors of Venezuela’s PDVSA from taking control of US refiner Citgo as a result of missed payments Continue Reading