Putin says oil supply cuts possible if all major producers take part
Vladimir Putin said a cut to global oil production of about 10m barrels a day is possible, but only if all major crude producers including the US join in the Continue Reading
Putin Says Russia Is Willing to Join Oil Production Cuts: Live Updates
Putin urges the United States to participate in oil output cuts. The United States should join with Russia and the Organization of the Petroleum Exporting Countries in cutting crude oil Continue Reading
Russian Oil Firms Ready To Agree To A Production Cut Deal
With oil prices below Russia’s budget breakeven and with over 20 percent of global oil demand wiped out by the coronavirus pandemic, Russian oil firms could be ready to participate Continue Reading
OPEC+ plans extraordinary meeting Monday via webinar to discuss oil cuts
The OPEC+ alliance plans an extraordinary meeting Monday via webinar to try and broker a deal on production cuts, according to delegates, following mediation by US President Donald Trump this Continue Reading
Economies won’t be able to recover after shutdowns
Citizens seem to be clamoring for shutdowns to prevent the spread of COVID-19. There is one major difficulty, however. Once an economy has been shut down, it is extremely difficult Continue Reading
IMF head says global economy now in recession
The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the Continue Reading
Global Economic Fallout Grows as Coronavirus Cases Pass 600,000
Concerns about the financial toll of the coronavirus pandemic continued to grow as the number of infections globally topped 600,000 Saturday, with the International Monetary Fund warning of an economic Continue Reading
OPEC February Production Data
It is thousand barrels per day and is through February 2020. The OPEC data no longer includes Ecuador. OPEC 13 was down 546,000 barrels per day in February. The only Continue Reading
Ten signs the oil industry is bent out of shape
The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to Continue Reading
World Trade Rocked by Virus Sees Worst Collapse in a Generation
The global economy’s most abrupt and consequential shock in at least a generation is unfolding at ports and other hubs of international commerce as the U.S. and Europe struggle to Continue Reading