As Canadian oil firms prepare to start reporting what would surely be bleak Q1 earnings and short-term outlooks, analysts expect that the companies will announce curtailments in production to the Continue Reading
U.S. oil companies have started sending oil to the Strategic Petroleum Reserve, Bloomberg reports, citing a Department of Energy official. According to the official, since the start of April, some Continue Reading
It’s the latest example of an oil and gas deal running into snags amid the unprecedented plunge in crude prices. (Bloomberg) — Continental Resources Inc. is being sued by a Continue Reading
Plans for a swift reopening of malls, factories and other businesses accelerated Tuesday, but they quickly collided with the reality that persuading workers and consumers to overlook their coronavirus fears and Continue Reading
It’s game-over for most of the U.S. oil industry. Prices have collapsed and storage is nearly full. The only option for many producers is to shut in their wells. That Continue Reading
Mr Putin visited coronavirus patients at a hospital in Moscow last month Russian President Vladimir Putin has admitted that there is a shortage of protective kit for medics as the Continue Reading
Russia, one of the world’s top wheat shippers, was among the first nations that moved to guard domestic food supplies amid the coronavirus pandemic. The window closed swiftly on the Continue Reading
Even though the new OPEC+ deal is set to come into force this week, oil prices will not rise much in the near future because of very high global inventories, Continue Reading
Another big fall in oil prices dragged hordes of petrocurrencies under on Tuesday but even an HSBC warning of mounting bad credit and a near 80% plunge in BP’s profits Continue Reading
Oil prices plunged for the second day in a row on Tuesday on concerns about dwindling global capacity to store more crude and fears that demand may be slow to Continue Reading
