Exxon slashes capex by $10bn
ExxonMobil is slashing this year’s capital spending plans by $1obn and will cut cash operating expenses by 15 per cent as it seeks to preserve its dividend in the face of Continue Reading
U.S. economy will eventually reopen but with big changes: Kudlow
The Trump administration is aiming to reopen the U.S. economy when the nation’s top health experts give the go-ahead, but Americans’ lives will be drastically different, White House economic adviser Continue Reading
U.S. pushes back on call by OPEC+ to join big oil output cuts
Saudi Arabia, Russia and allied oil producers will only agree to deep cuts to their crude output at talks this week if the United States and several others join in Continue Reading
Trump says WHO is China-centric, ‘really blew it’ on coronavirus
U.S. President Donald Trump sharply criticized the World Health Organization on Tuesday, accusing it of being too focused on China and issuing bad advice during the coronavirus outbreak. “The W.H.O. Continue Reading
U.S. Slashes 2020 Oil-Output Forecast Ahead of OPEC+ Meeting
The U.S. cut its 2020 oil production forecast by more than 1 million barrels a day, as collapsing crude prices and plummeting demand threaten to shutter production in the country’s Continue Reading
Oil Companies Warn Kansas City Fed of Widespread Insolvencies
Almost 40% of oil and natural gas producers face insolvency within the year if crude prices remain near $30 a barrel, according to a new survey by the Federal Reserve Bank Continue Reading
Natural Gas Output Seen Falling by Most Ever in U.S. Next Year
Natural gas production in the U.S. is expected to drop by the fastest pace ever in 2021 as drillers slash spending in response to the coronavirus pandemic that’s sending oil Continue Reading
Joblessness Seen Tripling to 25% or More in Canada Oil Heartland
Alberta Premier Jason Kenney said the crisis rocking the global oil industry could cause at least 25% unemployment in his province. The dual shocks of the Saudi-Russian oil price war and Continue Reading
Shale Spending Sinks as Exxon Cuts More Than Double Anyone Else
Exxon Mobil Corp. more than doubled the budget cuts announced by any other shale company on Tuesday amid an historic crude-market crash. In all, nearly three dozen shale explorers have slashed Continue Reading
U.S. Slashes Carbon Emissions Forecast as People Stay Home
Greenhouse gas emissions from power plants, cars and other sources in the U.S. are forecast to decline by a whopping 7.5% this year as people use less energy amid a Continue Reading