China’s industrial deflation worsened in May, with factory-gate prices falling at their fastest pace in more than four years as the coronavirus pandemic crushed global demand for commodities. The country’s Continue Reading
Chinese oil trading companies are mulling over a halt in chartering tankers that have called at Venezuelan ports over the past year as Washington steps up sanctions against the Caracas Continue Reading
China’s auto sales surged 14.5% in May, a second straight month of growth as the global industry’s biggest market gradually recovers from the coronavirus pandemic. The China Association of Automobile Continue Reading
Fed chair says millions of Americans may never get their jobs… Vera Jourova, the senior E.U. official charged with rule-of-law issues, speaks at E.U. headquarters in Brussels on Wednesday. (Francisco Continue Reading
Unless oil prices move back up to the levels before the COVID-19 pandemic, the U.S. shale industry could collapse, the Institute for Economics & Peace, an Australian think-tank, warned in Continue Reading
Greenhouse gas emissions in the U.S. are poised for a record plunge this year, the result of coronavirus lockdown orders that have shuttered factories, closed stores and left cars and Continue Reading
Cases surpass 2 million in the U.S., with new hot spots emerging. The United States surpassed two million coronavirus cases on Wednesday, according to a New York Times database , Continue Reading
The United States’ nuclear energy industry has been in dire straits for years now. Despite the fact that nuclear has a huge advantage in the field of clean energy, with Continue Reading
As tens of millions of Americans remain jobless following the COVID-19 shock that took the world by storm, some United States lawmakers are calling for a new stimulus package that Continue Reading
International Development Finance Corp., a US federal agency, will end its ban on financing nuclear power plant projects, a spokeswoman said June 10, a move that follows the Trump administration’s Continue Reading
Highlights US crude stocks up 5.72 million barrels to 538.07 million barrels Net crude inputs 20% below normal at 13.48 million b/d Exports fall to seven-month low of 2.44 million Continue Reading
About 23% of US oil and natural gas production from the Gulf of Mexico remained offline on June 10 after Tropical Storm Cristobal swept through the region during the weekend. Continue Reading
The massive drawdown in active rigs in Oklahoma’s SCOOP/STACK plays has prompted pipeline flows out of the region to plummet over the past month, adding upward pressure to Midwest prices. Continue Reading
Britain just passed a significant landmark — at midnight on Wednesday, it had gone two full months without using electricity from coal-fired power stations for the first time since the Continue Reading
The world faces the worst global recession in nearly a century, a key economic body warned Wednesday, while in Europe, restrictions to fight the spread of coronavirus portend a bleak Continue Reading
Volkswagen AG said its flagship electric car model, the ID.3 hatchback, wouldn’t be delivered to customers until September, several months later than originally planned after software glitches delayed production. Volkswagen Continue Reading
The German cabinet has approved a national hydrogen strategy focused on support for electrolysis, targeting 14 TWh of renewable hydrogen production by 2030, it said June 10. Receive daily email Continue Reading
The mishandling of the biggest Arctic oil spill ever infuriated Russian President Vladimir Putin and could give a boost to the country’s environmental regulation. MMC Norilsk Nickel PJSC, Russia’s biggest miner, Continue Reading
As the coronavirus continues to spread around the globe, companies and academic labs are racing to develop a vaccine that would help society get back to normal. But there could Continue Reading
Crude oil futures were trading lower in mid-morning trade in Asia June 10 on profit-taking after an overnight spike as the market awaited the release of weekly US inventory data Continue Reading
Oil retreated to near $38 a barrel after a U.S. industry report signaled a surprise jump in crude inventories, underscoring the market’s patchy road to rebalancing. Futures dropped 2.4% in New Continue Reading
Crude oil prices spiked late June 9, ending in positive territory after trading down for most of the day, following a bullish US government report on 2021 global oil demand Continue Reading
The extension of the OPEC+ production cut agreement did little to move oil prices as it had already been baked into oil prices Chart of the Week – Canada is Continue Reading
Airline losses are surging to unprecedented levels expected to be more than three times those following the 2008 global economic slump, according to the industry’s main trade group. The International Air Transport Continue Reading
A strange-looking contraption that could represent a new frontier in clean energy wallowed in the water alongside a coal dock here in a bay in northwest Spain. This floating windmill with Continue Reading
OPEC and its allies slashed almost one-fifth of their crude oil production in May, the first month of their landmark supply accord, according to the latest S&P Global Platts survey Continue Reading
OPEC’s second-largest producer, Iraq, which also happens to be the least compliant member of OPEC+ since the group started managing supply to the market in 2017, may have finally started Continue Reading
Libya’s largest oil field reopened June 9 just a few hours after it had been shut by an armed group, underscoring the fragility of the country’s much-anticipated return to export Continue Reading
Libya’s National Oil Corporation (NOC) declared force majeure on exports from its Sharara oilfield on Tuesday, saying an armed group had shut production again just days after it had resumed. Continue Reading
Saudi Arabia exported crude oil worth some $40 billion during the first quarter of the year, down by 21.9 percent, or $11 billion, on the first quarter of 2019, Reuters Continue Reading
By the end of the second quarter of 2020, data from drill bits may tell us whether or not the world has found the next Eagle Ford, and it’s all Continue Reading
Sudan, Egypt and Ethiopia on Tuesday resumed talks on the giant Blue Nile hydropower dam after the failure of a U.S-led mediation effort earlier this year, a Sudanese official said. Continue Reading
The World Health Organization has recommended Pakistani authorities reimpose “intermittent lockdowns” of targeted areas to curb the spread of the novel coronavirus, stating the country did not meet the global Continue Reading
The US is preparing sanctions on as many as 50 oil and fuel tankers in an effort to cut off trade between Iran and Venezuela. The Trump administration is preparing Continue Reading
Non-OPEC Mexico, which was the surprise holdout in the OPEC+ meeting in April, bailed out of the group’s one-month extension of the record production cuts. But Mexico’s share of the Continue Reading
Some cruise lines are hoping to set sail later this summer but with images of coronavirus-ravaged ships still fresh in many minds, the industry could face years of choppy water Continue Reading
China smashed its crude oil imports record in May as manufacturing activity picked up and lockdowns eased. Amid recovering demand for gasoline and diesel, China’s total demand is nearly back Continue Reading
China’s province of Shandong – home to most of the country’s independent refiners – plans to shut down as much as 500,000 bpd refining capacity at the so-called teapots as Continue Reading
Chinese companies are putting off plans for U.S. listings as tensions between the world’s top two economies rise, lawyers, bankers, accountants and regulators involved in what has been a major Continue Reading
Fuel cell vehicles that use hydrogen and emit only water have long been a goal of green-energy advocates. They have potential advantages over battery-powered cars, including quicker refueling and longer Continue Reading
South Korea’s ambitions to make hydrogen a part of its transport fuel mix is garnering support from its auto makers such as Hyundai Motor, as it looks to gain ground Continue Reading
Shares of Chesapeake Energy Corp., the U.S. fracker preparing for a potential bankruptcy, are experiencing another wild session, plunging as much as 74% before trading was halted again on Tuesday. The Continue Reading
Consumers may be eager to hit their nearest reopened mall, but it could already be too late for many struggling retailers. U.S. retailers will shutter 20,000 to 25,000 stores this Continue Reading
Forecast Highlights Global liquid fuels Although revisions to EIA’s forecasts in the June STEO are generally smaller than they have been in recent months, this forecast remains subject to heightened Continue Reading
They are both named after inventor Nikola Tesla. They are both aiming to upend the market of predominantly gasoline and diesel-powered cars and trucks with their zero-emission technologies. And their Continue Reading
Things have been happening increasingly fast in the oil industry, especially with prices. With so much volatility around, price movements are quick and often surprising. Right now, the general optimism Continue Reading
The natural gas industry is rapidly losing ground in the U.S. Northeast, beaten back by renewable energy, environmentalists, and stricter climate policy. Massachusetts Governor Charlie Baker, a Republican, signed an Continue Reading
The American Petroleum Institute (API) estimated on Tuesday shocked the oil markets with a large crude build of 8.42 million barrels for the week ending June 5. Analysts had predicted Continue Reading
The US Energy Information Administration forecast coal production of 530 million st in 2020, down 23.2% from the estimated 2019 output of 690 million st, the Energy Information Administration’s Short-Term Continue Reading
A monitor tasked with independently evaluating Southern Co.’s already delayed Alvin W. Vogtle Nuclear Plant nuclear expansion project has found that the utility is “highly unlikely” to meet the most Continue Reading
