Oil is entering a period of unparalleled demand destruction this month that promises to transform the industry for years to come. Daily consumption will plummet by 15 million to 22 million Continue Reading
President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices. Trump, speaking at the White House Tuesday, Continue Reading
The OVX index measures implied volatility of oil prices and is calculated by using movements in the prices of financial options for WTI. – The OVX reached 190 on March Continue Reading
The U.S. government has extended for another 60 days sanction waivers that allow Russia, China, and European countries to continue nonproliferation work at Iranian nuclear sites. Secretary of State Mike Continue Reading
As countries of the world continue to battle the spread of coronavirus , oil prices crashed below $20 amid a supply glut on Monday. Brent crude fell to $22.58 per Continue Reading
Iran’s president said on Wednesday that, with the advent of the coronavirus, the United States had missed a historic opportunity to lift sanctions on his country, though the penalties had Continue Reading
State-run Coal India Ltd. is considering cutting output at some mines, aligning it with a steep drop in demand from power generators amid a countrywide lockdown, according to people with knowledge Continue Reading
China has been sending aid to help Venezuela deal with the outbreak The US has offered to lift crippling sanctions against Venezuela if its leaders agree to a power-sharing deal. Continue Reading
Russian state oil company Rosneft’s decision to cease operations in Venezuela and sell its assets there to a Russian government-owned company was a “maneuver” made in reaction to collapsing oil Continue Reading
In China, international flights have been cut back so severely that Chinese students abroad wonder when they will be able to get home. In Singapore, recently returned citizens must share Continue Reading
