Auto industry set to put brakes on central Europe’s COVID-19 recovery
The auto industry, long a driver of economic growth in central Europe, is likely to be one of the main drags on the region’s efforts this year to recover from Continue Reading
Shell avoids loss with strong trading, wipes $17 billion off assets
Royal Dutch Shell ( RDSa.L ) avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a Continue Reading
Total Makes Surprise Profit as Trading Gains Offset Oil Slump
Total SE made a surprise profit after “very good” trading gains offset some of the slump in oil and gas prices due to the coronavirus pandemic. Mirroring the performance of some of Continue Reading
German economy shrank 10.1% in second quarter from previous quarter amid coronavirus shutdowns
FRANKFURT, Germany (AP) — German economy shrank 10.1% in second quarter from previous quarter amid coronavirus shutdowns. View full article at apnews.com
Oil Prices Inch Higher On Surprise Crude Draw
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 6.829 million barrels for the week ending July 24. Analysts had predicted a modest inventory Continue Reading
Oil Prices for Jul. 29, 2020: Brent Crude, WTI
Oil edged higher as U.S. crude stockpiles were set to have fallen last week, while the dollar slid again. Futures in New York rose 1.1%. U.S. inventories fell by 6.83 million Continue Reading
Oil prices edge higher as U.S. inventory drop counters demand concerns tied to COVID-19
Oil prices climbed on Wednesday after a surprise drop in U.S. crude inventories was enough to offset concerns about U.S. fuel demand amid record increases in COVID-19 infections in some Continue Reading
Oil falls as U.S. stimulus package faces tough talks
Oil prices fell on Tuesday as U.S. lawmakers prepared to wrangle over an economic stimulus package and investors worried about a rise in coronavirus cases worldwide. Brent crude futures fell Continue Reading
OPEC May Have To Adapt To Lower-For-Longer Oil Demand
OPEC is trying to come to terms with the idea that the coronavirus crisis may have brought with it permanent changes in consumer behavior, stifling oil demand over the next Continue Reading
Oil Markets Face New Glut As OPEC Prepares To Open The Taps
The upcoming partial return of curtailed OPEC+ oil production from August is set to create a new four-month supply glut of around 170 million barrels, a Rystad Energy analysis reveals. Continue Reading