Chinese independent refineries’ June crude imports edged down 0.5% to 4.4 million b/d, or 18 million mt, in June from the record high of 4.42 million b/d in May as Continue Reading
The U.S. economy created a record 4.8 million jobs in June as more restaurants and bars resumed operations, but layoffs remained elevated and raging COVID-19 cases across the country threaten Continue Reading
The U.S. trade deficit widened in May as the COVID-19 pandemic pushed exports to their lowest level since 2009, strengthening expectations the economy will contract in the second quarter at Continue Reading
Exxon Mobil Corp. incurred an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped amid Covid-19 lockdowns that stunted economic activity. The explorer’s oil and Continue Reading
The U.S. labor market made greater progress than expected last month digging out of a deep hole, yet optimism over the rebound was tempered by stubbornly high layoffs and a resurgent Continue Reading
At first glance, the June employment report was a blockbuster. The U.S. economy produced a record 4.8 million added jobs last month, walloping expectations. And the unemployment rate sank from Continue Reading
U.S. shale is hurting. While the entire global energy industry has been hit hard by the novel coronavirus pandemic and its disastrous effect on oil prices and oil demand, West Continue Reading
Baker Hughes reported on Thursday that the number of oil and gas rigs in the US fell again this week, by 2, to 263, showing the second small loss in Continue Reading
U.S. oil and gas companies are scrambling for credit, with lenders tightening their purse strings as oil prices continue to sit below $40 per barrel. Oil and gas lenders have Continue Reading
Energy Transfer, the company behind the controversial Dakota Access oil pipeline, has declared force majeure on the project to stop companies from pulling out of its plan to double the Continue Reading
