Crude oil futures fell sharply in mid-morning trade in Asia July 14 as rising COVID-19 cases and renewed lockdowns softened demand outlook, while expectations of tapering production cuts from OPEC+ Continue Reading
Oil slipped for a second day on signs of a slower emergence from lockdown in some corners of the globe. Futures fell by as much as 2.6% in New York. Continue Reading
Oil retreated before an OPEC+ committee meeting this week that may confirm the group’s intention to taper production cuts even as the coronavirus surges in many countries including the U.S. Continue Reading
Crude oil futures were lower in mid-morning trade in Asia July 13 ahead of mid-week deliberations by OPEC+ over whether to maintain its current supply cut for another month, and Continue Reading
BP was first. The supermajor said last month that it could book asset writedowns of up to $17.5 billion as a result of the industry crisis. Then it was Shell. Continue Reading
Even by the standards of Antarctica, there are few places as remote and hostile as Thwaites Glacier. More than 1,000 miles from the nearest research base, battered by storms that Continue Reading
In retrospect, it’s impressive that it lasted as long as it did. Four months after OPEC cobbled together a record production cut to offset the demand destruction unleashed by the Continue Reading
The oil price plunge and the production cuts after the coronavirus pandemic will hit oil exporters in the Middle East and North Africa (MENA) hard, with the combined oil income Continue Reading
OPEC’s 13 members suffered an 18.4% contraction in their oil export revenue in 2019 on slumping prices, the organization’s Annual Statistical Bulletin showed July 13, denting their economies leading into Continue Reading
OPEC+ will hold a committee meeting this week to assess the status of the oil market and decide on its next steps. For now, the group appears ready to begin Continue Reading
