Factories Close for Good as Coronavirus Cuts Demand
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Factories Close for Good as Coronavirus Cuts Demand
Those factory shutdowns will further erode an industrial workforce that has been shrinking as a share of the overall U.S. economy for decades. While manufacturing output last year surpassed a Continue Reading
Russian coronavirus cases above 200,000
MOSCOW (Reuters) – The Russian authorities said on Sunday they had recorded 11,012 new cases of the coronavirus in the last 24 hours, bringing the nationwide tally to 209,688. Russia’s Continue Reading
UK’s Johnson lays out road map for easing virus lockdown
U.K. Prime Minister Boris Johnson on Sunday outlined his government’s “conditional plan” for reopening British society in the coming months, including the possible return to school for some young children Continue Reading
Coronavirus: Germany infection rate rises as lockdown eases
Germany has introduced a mass testing regime, including drive-through centres like this one in Berlin Coronavirus infections are rising in Germany, official data shows, just days after the country eased Continue Reading
Oil Posts Second Weekly Gain on Deepening Production Cuts
Oil notched its first back-to-back weekly gain since February amid optimism around production cuts beginning to eat into a massive supply glut. Futures in New York climbed 25% this week. Explorers Continue Reading
Crashing oil demand drives a 17 MMbpd global output cut in Q2
Consulting firm IHS Markit expects oil demand in the second quarter of 2020 to be 22 MMbpd less than a year ago. This collapse in demand combined with low oil Continue Reading
Oil Prices Set For Second Consecutive Weekly Gain
Oil prices were poised for a second weekly gain in a row early on Friday, as traders bet that the worst of the demand loss is behind us while production Continue Reading
Oil Holds Gains Despite Massive Unemployment
Oil prices are poised for a second weekly gain in a row despite the harrowing jobs report released on Friday morning. The U.S. Labor Department reported a loss of more Continue Reading
Is This Oil Rally Justified?
U.S. West Texas Intermediate crude oil futures are in a position to close higher for a second consecutive week on Friday as more countries moved forward with plans to ease Continue Reading
Stocks hit weekly highs as markets shrug off dismal U.S. jobs data
Equity markets rallied on Friday, hitting weekly highs, and oil prices gained as more governments around the world began gradually reopening their economies and Sino-American trade tensions eased. The optimism Continue Reading
Trump’s Jobs Bet Unravels on Worst Slump Since Depression
President Donald Trump says he resuscitated Barack Obama’s gasping economy and proceeded to build it to its strongest in generations. Now as record job losses mount across the country, the Continue Reading
Subways, trains and buses are sitting empty around the world. It’s not clear whether riders will return.
President Donald Trump says he resuscitated Barack Obama’s gasping economy and proceeded to build it to its strongest in generations. Now as record job losses mount across the country, the Continue Reading
Sea levels could rise more than a metre by 2100, experts say
Sea-level rise is faster than previously believed and could exceed 1 metre by the end of the century unless global emissions are reduced, according to a survey of more than Continue Reading
What Will OPEC Do Next?
If you want to know where OPEC’s production is heading, one needs only to look at their next month’s OSP, particularly to its largest market, Asia. This week, Saudi Arabia Continue Reading
Trump, Saudi king discuss global oil market
WASHINGTON (Reuters) – U.S. President Donald Trump and Saudi Arabia’s King Salman spoke by phone on Friday and “reaffirmed the strong United States-Saudi defense partnership,” the White House said, amid Continue Reading
Venezuela’s Oil Production Crippled By Another Power Outage
According to unnamed sources who spoke to Reuters, a power outage this week stopped operations at the Petropiar crude upgrader that PDVSA runs via a joint venture with Chevron. Separately, Continue Reading
Anarchy in Venezuela’s jails laid bare by massacre over food
Three weeks before he was shot dead, Miguel Calderon, an inmate in the lawless Los Llanos jail on Venezuela’s central plains, sent a voice message to his father. “We live Continue Reading
Trump Casts Doubt on Future of China Trade Deal After Phone Call
President Donald Trump cast doubt on the future of his “phase one” trade deal with China, one of the biggest accomplishments of his first term, saying Friday that he’s struggling Continue Reading
South Korea May Speed Up Renewable Energy Shift Under Proposal – Bloomberg
South Korea could ramp up its shift toward renewable power, and away from coal and nuclear, under a proposal by a government working group tasked with helping shape its energy future. The Continue Reading
Why China Is Withholding Stimulus Amid Coronavirus-Sparked Downturn
China has just suffered its first quarter of economic contraction since the 1970s. Millions of jobs have been lost, and the coronavirus pandemic has hampered businesses for more than three Continue Reading
Coronavirus: China offers to help North Korea fight pandemic
North Korea’s government maintains has not reported a single case of Covid-19 there China’s president has expressed concern about the threat of the coronavirus to North Korea and offered help. Continue Reading
These dirty power plants cost billions and only operate in summer. Can they be replaced?
As the U.S. approaches another scorching summer, the power grid will be tested once again. Energy use typically spikes during heat waves due to the massive amount of electricity required Continue Reading
Trump’s EPA just introduced a historic CO2 rule for planes. Wait, what?
Cars, power plants, and some buildings are subject to fuel and energy efficiency standards in the United States. Believe it or not, up until now, the nation’s aviation industry has Continue Reading
Opinion: Democrats will unify behind a ‘Climate President’
We are less than 6 months from Election Day, but it’s already clear that this election will be like no other in history. It will take place amid a global Continue Reading
Pandemic inflicts historic U.S. job losses, as states struggle to reopen
The coronavirus pandemic triggered the steepest monthly loss of U.S. jobs since the Great Depression, government data showed on Friday, while Michigan and California prepared to put people back to Continue Reading
US Jobs Report Apr. 2020: Unemployment Rate Triples to 14.7%
It took just one month for the labor market in the world’s largest economy to capsize. It will take longer for the damage to be fully realized. In the harshest downturn Continue Reading
U.S. April Jobs Report Was Full of Records — the Bad Kind
It took just one month for the labor market in the world’s largest economy to capsize. It will take longer for the damage to be fully realized. In the harshest downturn Continue Reading
Americans Are Pumping Gas Again as States Reopen
Americans are starting to get back behind the wheel, welcome news for the companies that turn oil into gasoline and diesel. Fuel makers including Valero Energy Corp. and Phillips 66 Continue Reading
Wall Street closes higher despite dire US jobs data
The gulf between a buoyant Wall Street and withering Main Street, which has perplexed many investors for more than a month, was widened further on Friday by a rally in Continue Reading
U.S. Oil, Gas Rigs Fall Below 400 For The First Time Since 1940
Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week by 34, falling to 374, with the total oil and Continue Reading
U.S. Oil Towns Could Take Years To Recover From Crude Price Shock
Oil towns and counties in America’s states most dependent on oil revenues are once again hit by the bust in the oil cycle, but this time the drilling activity slump Continue Reading
Illinois Basin coal output totals 19.2 million st; lowest on available data: MSHA
Illinois Basin coal production totaled over 19.2 million st in the first quarter of 2020, down 7.3% from the previous quarter and down 30.7% from the year-ago quarter, Mine Health Continue Reading
Halliburton Lays Off Additional Staff in Houston
Approximately 984 employees were affected. As a result of the dramatic downturn in business sparked by the coronavirus and OPEC+ policy, Halliburton has announced another group layoff this week, according Continue Reading
No ‘V’-shape return from devastating U.S. job loss, Fed policymakers say
As many parts of the world’s biggest economy begin to reopen after weeks of stay-at-home orders that slowed the spread of the coronavirus but gutted jobs, Americans should not expect Continue Reading
As Job Losses Mount, Lawmakers Face a Make-or-Break Moment
Bridget Bennett for The New York Times WASHINGTON — As the nation confronts unemployment levels not seen since the Great Depression, Congress and the Trump administration face a pivotal choice: Continue Reading
North Dakota Launches Bakken Restart Task Force
The group is carving out ways to secure, strengthen, and stimulate North Dakota’s energy future. North Dakota’s Department of Mineral Resources has established a Bakken Restart Task Force to help Continue Reading
Trump administration signals help coming for solar and wind energy amid pandemic
The Trump administration is signaling it is about to offer a lifeline to solar and wind projects battered by the coronavirus pandemic. In a letter sent to senators Thursday, the Continue Reading
Norway’s Oil Industry Questions $10 Billion Tax Plan
A $10-billion tax deferral plan proposed by the Norwegian government has prompted two oil industry executives to voice concern that it would do nothing to support the sustainability of the Continue Reading
UK ‘to bring in 14-day quarantine’ for air passengers
UK airlines say they have been told the government will bring in a 14-day quarantine for anyone arriving in the UK from any country apart from the Republic of Ireland Continue Reading
Crude futures rebound in Asia trade after overnight fall, but uncertainty remains
Crude oil futures rebounded in mid-morning trade in Asia Friday after an overnight fall, but the continuing uncertainty over the demand-supply outlook will cap the recovery, analysts said. At 9:50 Continue Reading
Oil Set for Second Weekly Gain With Market Starting to Rebalance
Oil headed for its first back-to-back weekly gain since February as output cuts from the biggest producers and a nascent recovery in demand began to rebalance a market awash with Continue Reading
Why This Oil Rally Won’t Last
Oil prices have rallied as traders believe the depths of demand destruction may be coming to an end with economies beginning to reopen. But some analysts are warning that the Continue Reading
Did The Plastics Boom End Before It Even Started?
Three years ago, the UN declared plastic pollution a global crisis , more than three decades after the discovery of the Great Pacific Garbage Patch –a collection of marine debris Continue Reading
Polar vortex to unload historic Arctic blast in the East, as blistering heat roasts West
A contorted jet stream — with a massive bulge of high pressure in the West and a downstream dip, or trough, in the East that resembles tall ocean waves — Continue Reading
CO2 Emissions Are Falling. That Doesn’t Mean Virus Will Slow Warming
Springtime is a difficult moment to puzzle out what the ongoing economic shutdown means for global warming. Carbon-dioxide levels always drop throughout the spring and summer in the Northern Hemisphere, Continue Reading
Iran’s Coronavirus Cases Rise Anew as Friday Prayers Are Set to Resume
New infections from the coronavirus have surged in Iran two weeks after it began easing restrictions on its population and a day before some mosques are set to reopen for Continue Reading
U.S. to Remove Patriot Missile Batteries From Saudi Arabia
The U.S. is removing Patriot antimissile systems from Saudi Arabia and is considering reductions to other military capabilities—marking the end, for now, of a large-scale military buildup to counter Iran, Continue Reading
The Only Hotspot Where Big Oil Will Still Spend
Oil majors may be slashing spending and deferring development plans across the globe, but they remain committed to developing the newest offshore oil finds in the heart of Latin America. Continue Reading
Mexico’s President Is Betting Big Against Renewables
It sounds like a news report out of yet another dystopian novel: Mexico is halting grid connection for new solar and wind power projects. In a world rushing to produce Continue Reading