Japan’s crude imports plunged 31% year on year to 1.91 million b/d in June, the lowest for the month in 54 years, as refiners slashed their crude throughput because of Continue Reading
A record-setting drop in the U.S. economy from April to June has given way to an increasingly tepid-looking rebound as consumers appear to pull back and businesses slow rehiring, data Continue Reading
The number of Americans filing for unemployment benefits increased for a second straight week, a sign the economic rebound is increasingly at risk with Congress poised to potentially let supplemental Continue Reading
The full scope of the pandemic’s toll on the U.S. economy was on display Thursday, when government officials reported that gross domestic product shrank the most on record in the second quarter Continue Reading
A deadlocked Senate on Thursday exited Washington for the weekend without acting to extend a $600 per-week expanded jobless benefit that has helped keep both families and the economy afloat Continue Reading
Economists have long used letters of the alphabet like V and U to describe economic recoveries. But the coronavirus downturn is so different from past recessions that economists are coming Continue Reading
U.S. President Donald Trump issued a presidential permit on Wednesday granting the operator of the existing Keystone oil pipeline, TC Energy, the right to increase the maximum throughput capacity, while Continue Reading
Storage inventories increased by 26 Bcf to 3.241 Tcf for the week ended July 24, the US Energy Information Administration reported July 30. Receive daily email alerts, subscriber notes & Continue Reading
On Thursday, some quarterly figures from the oil majors started coming in – and they are mostly negative. Royal Dutch Shell reported a staggering $18 billion quarterly loss, made worse Continue Reading
Exxon is planning to cut jobs and spending, in a hail mary to preserve its dividend, according to anonymous Reuters sources. Exxon spokesman Casey Norton, however, has denied that the Continue Reading
