Oil prices soared on Friday, with U.S. futures closing out May with record monthly gains, on hopes that the U.S.-China trade deal would remain intact and on falling crude production. Continue Reading
NYMEX oil futures rallied in the final minutes of trading to settle sharply higher Friday amid optimism that the US and China could avoid a renewed trade war despite rising Continue Reading
Despite production cuts from OPEC+ and North America and slowly improving demand, oil prices are not expected to average much higher than current prices in 2020 because of renewed U.S.-China Continue Reading
Early signs of growing demand for crude oil have prompted a market optimism that has led to increased WTI buying, setting the stage for the benchmark’s best-ever monthly performance , Continue Reading
The oil market could stay in a state of contango for longer after supply and demand finally balance due to the vast amount of crude and products in storage, Reuters Continue Reading
Oil posted its biggest monthly advance on record, just a few weeks after prices made a dramatic plunge below zero. Crude surged about 88% in May, with U.S. futures on Continue Reading
U.S. West Texas Intermediate crude oil is edging lower at the end of the week with prices being dragged down by weak U.S. fuel demand, fears of a second wave Continue Reading
Three Events to Watch in the Global Oil Patch First, while the markets are again overly obsessed with OPEC news (particularly in the aftermath of an oil price war), all Continue Reading
Global oil consumption hasn’t peaked, the head of the International Energy Agency warned, throwing cold water on hopes the coronavirus will cap demand and reduce climate-changing emissions. “In the absence Continue Reading
As countries begin rolling out plans to restart their economies after the brutal shock inflicted by the coronavirus pandemic , the three biggest producers of planet-warming gases — the European Continue Reading
Here’s what you need to know: Despite surging infections, India lifts its lockdown. Travel bubbles, airline corridors, bilateral border deals: Europe’s tangled reopening to travel. Trump, blaming China for the Continue Reading
A new study in the journal Science found that floating ice shelves can melt much more rapidly than previously thought—at a rate of about six miles per year. Credit: Massimo Continue Reading
Investors worldwide are underestimating the financial risks from climate change, and companies need to start disclosing their exposure, according to the International Monetary Fund. As global temperatures rise, severe climate events Continue Reading
Not even a full month into OPEC’s deep production cut agreement, rumors have already surfaced that there is a difference of opinion over a possible extension of the oil production Continue Reading
France, Germany, and Britain on Saturday criticized a U.S. decision to end sanctions waivers allowing work on Iranian nuclear sites designed to prevent weapons development. “We deeply regret the U.S. Continue Reading
Saudi Arabia transferred 150 billion riyals ($40 billion) from its central bank to its sovereign wealth fund as it went on an investment spree seeking to take advantage of recent Continue Reading
Seeking to deter further shipments of Iranian fuel to Venezuela, the Trump administration has quietly warned foreign governments, seaports, shipping companies and insurers that they could face stiff U.S. sanctions Continue Reading
Its coronavirus cases are skyrocketing, putting it among the world’s most worrisome pandemic zones in recent weeks. Nonetheless, India is reopening, lifting its lockdown at what experts fear may be the Continue Reading
– Much to Turkey’s dismay, the EastMed gas pipeline project has been approved by the Cypriot cabinet, and studies are currently in progress. The consortium comprises Cyprus-Greece-Israel for the 1300-mile Continue Reading
U.S. President Donald Trump said on Friday he was directing his administration to begin the process of eliminating special treatment for Hong Kong, in response to China’s plans to impose Continue Reading
Hong Kong told the United States to keep out of the debate over national security legislation being imposed by China, and warned that withdrawal of the financial hub’s special status Continue Reading
The latest escalation between the U.S. and China could compromise U.S. energy sales worth $52 billion that China pledged to make over the next few years as part of the Continue Reading
Volkswagen plans to increase its share in JAC Volkswagen, its joint venture for e-mobility. Around €1 billion is to be invested. This amount includes the acquisition of 50% of JAG, Continue Reading
U.S. President Donald Trump on Friday said he is terminating the U.S. relationship with the World Health Organization over its handling of the coronavirus, saying the WHO had essentially become Continue Reading
U.S. consumers cut spending by the most on record for the second straight month in April while boosting savings to an all-time high, and the growing frugality reinforced expectations the Continue Reading
Oil explorers are drilling at the slowest pace in more than a decade as the pandemic-driven collapse in energy demand wipes out cash flow, jobs and even entire companies. Drillers idled Continue Reading
U.S. consumer spending plunged in April by the most on record as widespread government lockdowns largely prevented Americans from spending federal stimulus payments in the month. Household outlays fell 13.6% Continue Reading
Occidental Petroleum Corp. cut its quarterly dividend by 91% to the lowest since at least the 1970s amid the pandemic-driven collapse in energy demand that has strained the oil explorer’s Continue Reading
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 17, falling to 301, with the total oil and Continue Reading
1. Shale bust is here – Shale wells decline somewhere between 70 and 90 percent from their initial peak within 3 years, with the bulk of that decline coming within Continue Reading
US shale oil producers have moved in droves during the last couple of months to protect themselves from current market turmoil by hedging, using a variety of derivative instruments to Continue Reading
Utilities eye ‘layered defense’ to protect workforce Smaller staging areas, other protocols planned Sector constantly checking pulse of supply chain With the Atlantic hurricane season just around the corner, utilities Continue Reading
U.S. pipeline operator Energy Transfer will begin cutting about 6% of its workforce next week, underscoring the spreading impact of weak oil and gas prices on the energy business. Marshall Continue Reading
Oil explorers are drilling at the slowest pace in more than a decade as the pandemic-driven collapse in energy demand wipes out cash flow, jobs and even entire companies. Drillers Continue Reading
Jeff Bishop’s LinkedIn post gets right to the point: “Houston Oil & Gas Folks — we’re hiring in Texas” for jobs in clean tech. His company, battery developer Key Capture Energy, Continue Reading
The UK has set itself on a collision course with China after broadening its offer on extended visa rights from 350,000 to almost 3m Hong Kong residents. After Beijing announced plans Continue Reading
Travellers at Copenhagen Kastrup Airport (2019 file pic) Norway and Denmark say they will open up tourism between their two countries from 15 June but will maintain restrictions for Swedes. Continue Reading
Draft law lifts maximum bid, adds second component to avoid draw Cabinet to decide Wed, stakeholders call for adjustments Hydrogen (non-grid) fields to be included at a later stage Germany’s Continue Reading
0237 GMT: Crude oil futures slipped in mid-morning trade in Asia Friday as the market turned its focus on US-China tensions after US President Donald Trump said late Thursday that Continue Reading
Oil trimmed its biggest monthly advance on record as crude was swept up in the broader negative sentiment around deteriorating U.S.-China relations. Futures in New York declined 2.3% on Friday, Continue Reading
The Energy Information poured cold water on oil bull circles this week when it reported a crude oil inventory increase of 7.9 million barrels for the week to May 22. Continue Reading
It’s more than a month since the oil markets sunk to a nadir in the mother-of-all market routs. Since then, oil prices have staged an impressive recovery, especially from WTI’s Continue Reading
Sales of SUVs have been continuously rising not only in America but also around the world, to the point of exceeding 40 percent of all new car sales worldwide in Continue Reading
The International Energy Agency’s executive director said Thursday that with an historic $400 billion decline in overall energy investment in 2020 expected, the global power sector will account for almost Continue Reading
The U.S. economy contracted 5% in the first quarter of 2020. With the coronavirus crisis continuing into the summer, economists are expecting an even steeper contraction in the second quarter. Continue Reading
That number isn’t high enough to fully reach herd immunity — and the flu still circulates every year. But there are benefits to partial immunity in the population: Only a Continue Reading
It is a daunting proposition — a coronavirus-tinged world without a foreseeable end. But experts in epidemiology, disaster planning and vaccine development say embracing that reality is crucial to the Continue Reading
The International Energy Agency marginalizes key climate goals in its research, according to an open letter from dozens of investors, business leaders, researchers and climate policy advocates. The Paris-based organization is largely funded Continue Reading
The United Nations “Cop26” Climate Change Conference in Glasgow has been officially postponed for a year and is now expected to take place the first two weeks of November. “The COP Continue Reading
Two conflicting reports about OPEC’s plans for oil production surfaced earlier this week–both citing unnamed sources. One set of sources claimed that Russia was considering an extension of the current Continue Reading
