It’s not just grocery shoppers who are hoarding pantry staples. Some governments are moving to secure domestic food supplies during the conoravirus pandemic. Kazakhstan, one of the world’s biggest shippers of Continue Reading
Evidence of the devastation wreaked on the global economy by the coronavirus pandemic mounted on Tuesday as activity surveys for March from Australia and Japan showed record falls, with surveys Continue Reading
Just hours after one of the most powerful officials in the biggest U.S. oil state was invited to OPEC’s inner sanctum in June, propspects for a rapprochement between two historically Continue Reading
U.S. oil industry regulators opened a dialogue with OPEC in talks that could help foster a truce between the world’s three largest oil producers and potentially resolve a Saudi-Russian price Continue Reading
Rosneft CEO Igor Sechin said Friday that OPEC+ has lost its ability to influence the market, but the world’s biggest oil producers should continue to talk. Receive daily email alerts, Continue Reading
U.S. antitrust laws prevent a formal deal and there is no suggestion the two sides would coordinate on production decisions. But the Texas regulator is considering curtailing output in America’s Continue Reading
The coronavirus pandemic will almost certainly trigger a global economic recession , and the recession may have already started with major economies grinding to a standstill. The U.S. government has Continue Reading
The March 18 meeting of the OPEC+ panel monitoring the oil market and producers’ compliance with quotas has been canceled, a source in one delegation told Russia’s news agency TASS Continue Reading
This week’s oil price rout had become inevitable and cutting output has ceased to make sense because it is unclear how deep the impact of the coronavirus on demand will Continue Reading
Despite the break-up of the OPEC+ production cut agreement, “the doors aren’t closed” to future cooperation between Russia and OPEC, Russia’s Energy Minister Alexander Novak told local news channel Rossiya Continue Reading
