Oil advanced back above $31 a barrel in London, reversing earlier declines, as OPEC+ scheduled an urgent meeting next week after a historic slump in prices that has crippled the Continue Reading
Crude futures surged for a second day on Friday, with both U.S. and Brent contracts posting their largest weekly percentage gains on record due to hopes that a global deal Continue Reading
Some American Oil Selling at Under $10 a Barrel U.S. refiners are scaling back fuel production amid the coronavirus-induced plunge in demand for gasoline and jet fuel, and the crude Continue Reading
The historic oil price crash from last month could lead to as many as 50 million job losses globally in the oil refining and retail industry, Reuters quoted the head Continue Reading
Deep output cuts by OPEC and other oil producing nations will not prevent a huge build up of crude, the head of the IEA said on Friday, urging the world’s Continue Reading
The historic oil price crash from last month could lead to as many as 50 million job losses globally in the oil refining and retail industry, Reuters quoted the head Continue Reading
The coronavirus pandemic and lockdowns imposed by governments on both sides of the Atlantic have pushed the global economy into the sharpest downturn since the Great Depression, data released on Friday Continue Reading
The Oil Age has powered the world for well over a century. There have been two general schools of thought about how it will ultimately end. There were those who Continue Reading
WASHINGTON/GENEVA (Reuters) – The coronavirus pandemic has brought the global economy to a standstill and plunged the world into a recession that will be “way worse” than the global financial Continue Reading
OPEC will invite the U.S. oil regulator to take part in the emergency OPEC+ video meeting on Monday, a source involved in the preparation of the meeting told Russian news Continue Reading
