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Month: October 2020

Category:
  • Prices

Light Crude Down 11% for the Month

Oil posted its largest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery. Futures fell 1.1% in New York on Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Prices

OIL FUTURES: Crude hits five-month lows as European lockdowns loom

Oil futures were settled near five-month lows Oct. 30 as rising COVID-19 cases continued to weigh on demand outlooks. NYMEX December WTI settled 38 cents lower at $35.79/b, and ICE Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Prices

Oil Sees Worst Month Since March

Oil prices have hit a 5-month low as COVID cases climb, new lockdowns are put in place and reports emerge that OPEC may not maintain its production cut in 2021. Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Prices

Oil falls on demand concerns, posts second monthly decline

Oil prices fell on Friday and posted a second consecutive monthly drop as rising COVID-19 cases in Europe and the United States heightened concerns over the outlook for fuel consumption. Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Prices

Analysts: Oil Prices Are Going Nowhere In The Short Term

Oil prices will continue to trade in a narrow range for the rest of the year, and the average Brent price next year will not exceed $50 a barrel, the Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Transportation

Traders Look To Store Diesel At Sea As Second Wave Hits Demand

In another sign that the second coronavirus wave is hitting fuel demand, oil trading firms are looking for new supertankers to use them as floating storage for diesel as demand Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Iraq

Iraq To Back Any OPEC+ Oil Production Decision

OPEC’s second-largest oil producer, Iraq, will support any unanimous decision that the OPEC+ group makes regarding the alliance’s future oil production policy, Iraqi Oil Minister Ihsan Abdul Jabbar Ismaael said Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Iraq

Iraqi oil minister denies seeking exemption from OPEC + output cuts in 2021

Highlights Reuters reported Oct. 29 Iraq seeking exemptions Report quoted unnamed Iraqi oil official Kuwait denies report it opposes extension of cuts into 2021 Dubai — Iraqi oil minister Ihsan Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Iraq

Kurdistan Halts All Oil Exports After Attack

The Kurdistan Region Government in Iraq declared a halt to all oil exports on Friday after experiencing an attack on a crude oil pipeline earlier in the week. The pipeline Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • coronavirus

How Is the Oil Industry Dealing With Covid?

It was Andrew Swiger, the chief financial officer at Exxon Mobil Corp., who summarized the attitude of the whole industry after Big Oil ended reporting another dismal set of quarterly Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Iraq

PKK suspected of Iraq-Turkey Pipeline attack

The Kurdistan Workers’ Party (PKK) is suspected of causing an Oct. 28 explosion on the Turkish side of the Iraq-Turkey Pipeline, which temporarily shut down oil flows from fields controlled Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Iraq

Pipeline attack halts exports from Iraq’s Kurdish region

Highlights Investigation launched into Oct. 22 attack Most of Kurdish production is exported Kurdish region produces around 450,000 b/d Dubai — Iraq’s semi-autonomous Kurdish region said Oct. 31 an attack Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • China

Organised ‘overkill’: China shows off rapid lockdown system after latest outbreak

Days after a 17-year-old girl tested positive for COVID-19 in a remote part of western China last week, health authorities said they had tested over 4.7 million people in the Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • China

China’s Factory Outlook Steadies as Recovery Stays on Track

An official gauge of activity in China’s manufacturing industry fell slightly in October, while consumer spending helped to lift services output, suggesting the economic recovery remains on track. The manufacturing Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • China

Chinese manufacturing expands in October but at slower pace

China’s manufacturing activity expanded in October for the eighth straight month, though at a slightly slower rate than in September, the National Bureau of Statistics said Saturday. The Purchasing Managers’ Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • China

Chinese promise market opening amid technology push

China will promote “technological self-reliance” under the ruling Communist Party’s latest five-year plan but will open further to trade, officials said Friday. The comments reflect growing official urgency about nurturing Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Climate

Super Typhoon Goni is 2020’s strongest storm, heads for Philippines

In just a day’s time, Super Typhoon Goni transformed from an ordinary Pacific cyclone into the year’s most intense storm on the planet. The typhoon is on a beeline for Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Climate
  • USA

Trump rolled back more than 125 environmental safeguards. Here’s how.

President Trump has spent the run-up to next week’s election touting himself as the finest steward of the nation’s air and water in generations. “Who would have thought,” he boasted Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Canada

‘Zombie’ Oil Wells in Canada Are a Climate Threat

William Romaniuk stopped his tractor at the edge of his field and sniffed. A breeze came off the North Saskatchewan River, rippling across rows of ripe wheat, but a caustic Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • USA

With election looming, U.S. faces record surge of coronavirus cases

A record surge of coronavirus cases in the United States is pushing hospitals to the brink of capacity and killing up to 1,000 people a day, the latest figures show, Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Shale Oil

Chesapeake, Franklin Head to Bankruptcy Showdown With Creditors

Chesapeake Energy Corp. and Franklin Resources Inc. will need to defend their debt restructuring plan in December from attack by unsecured creditors who claim the proposal is built on a fraudulent scheme, a judge Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • USA

Stock Market Today: Dow, S&P Live Updates for Oct. 30, 2020

U.S. stocks dropped, capping their biggest weekly rout since March, after earnings from the largest tech companies disappointed investors concerned that a slowing economy will damp profit. The Nasdaq 100 declined about Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • USA

Losses mount for oil companies as pandemic grips economy

Exxon Mobil reported its third consecutive quarter of losses as the global pandemic curtailed travel and crippled global economic activity. The energy giant on Friday posted a $680 million third-quarter Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Posts Third Consecutive Quarterly Loss for First Time

Exxon Mobil Corp. posted its third consecutive quarterly loss for the first time on record Friday and disclosed that it may write down the value of natural-gas assets worth as Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • USA

United States Records Its Worst Week Yet for Virus Cases

The outlook for the pandemic continues to worsen, and many areas of the United States are experiencing their worst weeks yet. The country reported a record of more than 500,000 Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Shale Oil

U.S. Rig Count Rises Despite Coronavirus Threat

Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 10 to 221. The total number of active oil and gas rigs increased Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Flags Possible $30B Writedown After Third Straight Loss

ExxonMobil ( NYSE: XOM ) warned on Friday that it could write down North American natural gas assets with a carrying value of up to US$30 billion as it reported Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Coal

August coal deliveries to US power plants jump to seven-month high: EIA

Coal deliveries to US power plants rose to a seven-month high of 40.53 million st in August, up 8.3% from the previous month, but 20.6% lower than the year-ago month, Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Shale Oil

US ELECTIONS: Devon stocks up on permits for drilling on federal land amid US presidential election

 Devon Energy will soon have enough permits for shale drilling on federal lands to cover its oil and gas production plans in the Permian’s Delaware Basin through 2024, CEO David Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Oil Supply

US Gulf oil and gas production, Louisiana refineries returning after Hurricane Zeta

The US Gulf of Mexico’s oil and gas volumes and some New Orleans-area refineries are returning after Hurricane Zeta ripped through the region and knocked out power in much of Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Shale Oil

ExxonMobil aims to boost Permian oil output in 2021 despite capex cuts

ExxonMobil has returned all but 140,000 b/d of oil production curtailed during the spring’s oil price crash, and the producer aims to increase output from the Permian Basin next year Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • USA

Energy’s Plunge Is Now Worst Among S&P Sectors Dating to 1928

Energy stocks are suffering through their worst retreat in almost a century. In the biggest drop of any sector going back to 1928, energy stocks have lost 60% more value than Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Natural Gas Supply

Appalachian gas production record weighs on market’s bullish winter sentiment

Appalachian Basin gas production edged up to its highest on record Oct. 30, dampening recent cash and forward-market bullishness over the promise of colder weather. Receive daily email alerts, subscriber Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Solar
  • Wind

Wind, Solar News: Repsol Now Spends More on Renewables Than Drilling

Repsol SA has invested more in recent months in developing renewable power projects than searching for oil and gas, offering the latest example of how Europe’s energy giants are accelerating Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • coronavirus

Global travel and tourism projected to shed 174 million jobs

The global travel and tourism industry is on course to lose 174 million jobs this year if current restrictions to curb the spread of the coronavirus remain in place, a Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Europe

Europe Risks a New Economic Downturn as Lockdowns Return

On paper the European economy is snapping back smartly from the pandemic, growing more in the third quarter than it ever had. But images from Paris, Madrid and Frankfurt tell Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Norway

Western Europe’s Biggest Oilfield Set To Increase Production

The giant Johan Sverdrup oilfield in Norway’s North Sea is expected to increase its oil production this quarter after the Norwegian government raised the Q4 production permits for Western Europe’s Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Europe

European mobility sinks to two-month low as major new lockdowns loom

Economic mobility indicators in Europe’s largest economies have fallen to more than two-month lows, according to Google data, as the growing wave of second-wave lockdowns in the region continues to Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Climate
  • United Kingdom

UK calls for greater international climate ambition ahead of Dec. 12 summit

The UK government has invited countries to prepare announcements of stronger climate commitments ahead of a planned virtual international climate summit Dec. 12. Receive daily email alerts, subscriber notes & Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Prices

Oil Set for Worst Month Since March as Virus Revival Cuts Travel

Oil is poised for the biggest monthly slide since March on concern a resurgent pandemic in the U.S. and Europe will keep people hunkered down, crimping demand for auto and Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Prices

Oil losses deepen as anxiety builds over lockdowns, U.S. elections

 Global oil prices fell more than 1% on Friday, extending losses and on track for a second monthly fall, on growing concerns that the rise in COVID-19 cases in Europe Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Prices

Oil Prices Fall Amid Demand Destruction Fears

Oil futures fell to multi-month lows as record growth in coronavirus cases in the U.S. and Europe raised the specter of more demand destruction from tighter lockdown measures. Futures in Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Prices

The New Energy Reality Is A Massive Opportunity For Investors

Since the very beginning of the novel coronavirus pandemic, it was clear that coronavirus would have a severe and lasting impact on the energy industry. At first, as the worldwide Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • OPEC

OPEC Members Rebel Over Production Cut Extension

While the oil market speculates on whether or not OPEC+ will ease its production cuts in January amid sluggish demand, rumors emerged on Thursday that the three biggest OPEC producers Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Iran
  • USA

U.S. unveils more sanctions on Iran and sells off Iranian oil for terrorism victims fund

An Iranian oil tanker Forest is anchored off the dock of El Palito refinery near Puerto Cabello, Venezuela, on Sept 29. The Trump administration on Thursday unveiled a set of Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Iran
  • USA

US sells seized Iranian gasoline cargoes for more than $40 million: DOJ

Four Iranian gasoline cargoes that were bound for Venezuela but seized by the US earlier this year have been sold in a forfeiture auction for more than $40 million, the Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Iran
  • USA

U.S. Blacklists Iranian, Chinese Companies Accused of Helping Iran Evade Energy Sanctions

The Trump administration on Thursday rolled out another pre-election battery of sanctions and other punitive actions against Iran, blacklisting Iranian and Chinese energy companies and announcing forfeiture actions against two Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Nagorno-Karabakh

The war in the Caucasus nears a bloody tipping point

You’re reading an excerpt from the Today’s WorldView newsletter. Sign up to get the rest , including news from around the globe, interesting ideas and opinions to know, sent to Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Colombia

Could Fracking Help Save Colombia’s Oil Dependent Economy?

For almost a decade the Andean country of Colombia has been battling to significantly boost its low proven petroleum reserves and lengthen the production life of its economically vital oil Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Mexico

Will A Fracking Boom Ever Happen In Mexico?

Mexico is sitting on top of the sixth biggest collective shale reserve in the entire world. At an estimated total of 545 trillion cubic feet , they’re just a hair Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple

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