The oil price meltdown will affect Mexico’s economy and is bound to deepen the global economic crisis, Mexican President Andrés Manuel López Obrador said on Tuesday, a week after he Continue Reading
With crude prices collapsing, Mexico’s president says his country will shut down new wells in a move that comes just over a week after he almost wrecked a global oil Continue Reading
Dressed in a hazmat suit, two masks and a face shield, Du Mingjun knocked on the mahogany door of a flat in a suburban district of Wuhan on a recent Continue Reading
Demand for plant-based protein foods is surging in Asia, suppliers say, as suspicion over possible links between wild animal meat and the new coronavirus drives some consumers, particularly in Hong Continue Reading
The BRI is a far-reaching plan for transnational infrastructure development, linking five continents through land and sea corridors and industrial clusters. Launched in 2013, it was initially planned to revive Continue Reading
There’s new evidence from Los Angeles County that the novel coronavirus may have infected around 4 percent of its population. That’s both good news and bad news. Officials in the Continue Reading
The Texas Railroad Commission adjourned a webcast public meeting Tuesday without voting on whether to implement prorationing the state’s production, instead deferring a decision until next month. Receive daily email Continue Reading
Weekly US coal ship departures totaled 42 in the week ended April 18, up eight from the previous week, data from cFlow, Platts trade-flow software, showed. Departures dropped to an Continue Reading
Oil futures appeared to shrug off President Donald Trump’s promise Tuesday to develop a financial rescue package for oil and gas producers after Monday’s staggering selloff amid plunging demand and Continue Reading
Many people are concerned today with the low price of oil. Others are concerned about slowing or stopping COVID-19. Is there any way forward? I gave a few hints regarding Continue Reading
The price of US crude oil for June delivery almost halved on Tuesday and Brent, the international benchmark, dropped below $20 per barrel for the first time in 18 years, as Continue Reading
A quarter of working Americans believe it’s “very likely” or “fairly likely” they will lose their job or be laid off in the next 12 months, according to a Gallup poll. That’s Continue Reading
The Trump administration is considering offering federal stimulus funds to embattled oil-and-gas producers in exchange for government ownership stakes in the companies or their crude reserves, according to people familiar Continue Reading
Loads that would have paid $1,000 last month, when a rush to restock grocery stores briefly lifted business, now fetch $300 or less, he said. That isn’t enough to cover Continue Reading
Robert Redfield, director of the Centers for Disease Control and Prevention, testifies about coronavirus preparedness to the House Government Oversight and Reform Committee in March. (Joshua Roberts/Reuters) Even as states Continue Reading
This is the age of wild rides that are transforming the personal transportation sector into something worth more than ever. We not only have the soon-to-be available space tourism, but Continue Reading
The ruble fell more than any other major currency and borrowing costs surged as negative crude prices in the U.S. pointed to a period of unprecedented weakness for Russia’s key export Continue Reading
The European Union says its vaunted tourist industry is facing “staggering” figures of decline because of the coronavirus crisis and the bloc’s internal market commissioner wants the sector to be Continue Reading
At least 18 million European workers have been idled over the past month, according to government figures, as the new coronavirus pandemic cuts an ever-widening swath through the world’s job Continue Reading
U.S. oil futures plunged below zero for the first time Monday, a chaotic demonstration of the dwindling capacity to store all the crude that the world’s stalled economy would otherwise Continue Reading
Oil traded near zero, after plunging below that level for the first time in history amid rapidly filling American storage tanks, as the U.S. benchmark’s May contract entered its final Continue Reading
U.S. oil futures traded in negative territory on Tuesday, after sinking nearly $40 the previous session in their first ever dive below zero, as concern grew the sector will run Continue Reading
The day started like any other gloomy Monday in the oil market’s worst crisis in a generation. It ended with prices falling below zero, thrusting markets into a parallel universe Continue Reading
The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy Continue Reading
U.S. President Donald Trump said he’ll look into a proposal to prevent Saudi Arabian oil from unloading in the U.S. and that he wants to fill the Strategic Petroleum Reserve Continue Reading
Oil price futures slipped into negative territory on Monday – a shocking oil-market first – making previous doom and gloom forecasts of OPEC’s too-little-too-late production cuts now seem like sober Continue Reading
The oil hub of Cushing, Oklahoma, has overcome times of stress before without losing its prime role in US oil pricing, but on Monday NYMEX crude oil futures plunged headlong Continue Reading
Courtesy of IHSMarkit’s energy vice president Roger Diwan How did you end up with negative oil prices today? This happens when a physical futures contract find no buyers close to Continue Reading
Global vehicle production is now expected to fall more than 20% to around 71 million in 2020 as a result of the Covid-19 pandemic and ensuing recession, a top automotive Continue Reading
The World Health Organization warned on Tuesday that any lifting of lockdowns to contain the spread of the novel coronavirus must be gradual, and if restrictions were to be relaxed Continue Reading
Kurdistan is committed to the OPEC+ oil production cut deal and will reduce output accordingly, the government of the semi-autonomous Iraqi region said in a statement following a meeting between Continue Reading
Oil storage is about the only thing in demand in the crude market right now. The coronavirus pandemic has obliterated consumption and forced producers and traders to store more oil Continue Reading
Saudi Arabia extended on Monday the suspension of praying in the Grand Mosque and Prophet’s Mosque during the fasting month of Ramadan to stem the spread of the coronavirus, the Continue Reading
Iran’s government allowed local bazaars and shopping malls to reopen on Monday, a potential milestone for a country that was one of the first outside of China to be hit Continue Reading
As COVID-19 continues to spread worldwide, the pandemic is having an unprecedented impact on the global economy and commodity markets, including cobalt. With countries imposing prevention and control measures against Continue Reading
Argentina is considering setting a minimum oil reference price at $45/b for local production, as much as $9/b less than some producers had requested, in a bid to revive output Continue Reading
China doubled the fill rate at its strategic and commercial inventories in Q1 2020, taking advantage of the low oil prices and somewhat supporting the oil market amid crashing demand Continue Reading
A northwestern province on the frontline of China’s coronavirus battle reported on Tuesday its first cases in nearly three weeks, all involving travellers from overseas, as imported infections started to Continue Reading
Mystery surrounded Kim Jong Un’s health after U.S. and South Korean officials gave differing accounts of the North Korean leader’s condition following his unusual absence from recent holiday celebrations. Kim was Continue Reading
China’s overall output of six major oil products — LPG, naphtha, gasoline, jet/kerosene, gasoil and fuel oil — fell by an average of 12.5% year on year at 33.85 million Continue Reading
Halliburton Co. is cutting spending, salaries and jobs as the fracking behemoth navigates what is shaping up to be the worst-ever oil bust. The company set full-year 2020 capital outlays at Continue Reading
U.S. oilfield services giant Halliburton ( HAL.N ) on Monday reported a $1 billion first-quarter loss on charges and outlined the largest budget cut yet among top energy companies as Continue Reading
The title of this column—“stranded assets”—describes the financial implications of a climate truism: maintaining an environment that’s somewhat hospitable to humans means that a lot of identified fossil-fuel reserves will Continue Reading
The renewable-energy industry could create more than a million jobs a year if countries invest enough to meet their target for cutting global carbon emissions, according to an advocacy organization. Solar, Continue Reading
Travis Deti has been working the phones to try to get government support for the U.S. coal industry during the coronavirus pandemic. Between recent calls, the head of the Wyoming Continue Reading
Hydrogen is the renewable fuel that could eliminate the biggest source of demand for fossil fuels—the transportation industry. It is the star in a script for a hydrogen economy built Continue Reading
The highest number of Saudi oil shipments in years are making their way to the United States this month, threatening to make an already dire situation in the U.S. oil Continue Reading
Canadian oil companies have begun shutting down steam-driven oil sands production projects as prices continue to fall, Reuters reports , noting the move could have dire long-term consequences for the Continue Reading
Thanks to lower net imports of crude oil and higher net exports of natural gas, the gross U.S. energy exports hit a record-high in 2019, exceeding gross energy imports for Continue Reading
Weak refining margins resulting from poor demand has US West Coast refiners further paring back runs, with Marathon temporarily idling its 161,500 b/d Martinez, California, refinery as stay-at-home orders remain Continue Reading
