Trump, Putin, Saudi Crown Prince Scramble to Fix Oil Markets
The leaders of Russia, Saudi Arabia and the U.S. each badly miscalculated the pain caused by the collapse in oil prices. Now they are trying to rescue their economies and Continue Reading
Trump says U.S. will ‘help Mexico along’ with its OPEC+ production cuts
U.S. President Donald Trump said on Friday that the United States would “help Mexico along” with oil production cuts that it is meant to make under a global deal to Continue Reading
Mexican standoff imperils proposed 10M-barrel OPEC+ oil cut
A deal between OPEC and nations including Russia to boost oil prices involves a 10 million barrels per day cut until July, then an 8 million barrels per day cut Continue Reading
Other oil producers will cut 5 million b/d on top of OPEC+ cut of 10 million b/d: Novak
Russian energy minister Alexander Novak said Friday that OPEC+ expects producers outside the group to cut another 5 million b/d of crude production in May and June, in an interview Continue Reading
OPEC+ gets no oil cut help from the US, as G20 energy talks continue
The world’s biggest economies were poised Friday to endorse the largest coordinated oil production cut in history to combat the coronavirus pandemic’s market meltdown. Receive daily email alerts, subscriber notes Continue Reading
OPEC Meeting News: The Surprise Holdout to a Global Deal
One of the most dramatic global oil production agreements in history has been left hanging on the approval of an unlikely character: Mexican President Andres Manuel Lopez Obrador. For weeks Russia Continue Reading
Industrialized Nations Fail to Come Up With Oil-Market Fix
A virtual summit of Group of 20 energy ministers failed on Friday to devise a detailed plan to help resolve an unprecedented oil glut partly triggered by the coronavirus pandemic. Some producers continue Continue Reading
Where Does Oil Go After The Largest Production Cut In History?
Right now, it is understandably difficult for anything to interrupt the coronavirus news cycle, even in the focused world of energy and commodities. This week, however, one thing managed to Continue Reading
Argentina’s Shale Boom On Hold As Oil Prices Collapse
Argentina’s state-held energy firm YPF slashed by 50 percent the oil production from its key development area in the vast Vaca Muerta shale play this week due to tumbling fuel Continue Reading
Rig Count Collapse Continues Despite Historic Global Oil Deal
Baker Hughes reported on Thursday that the number of oil and gas rigs in the US fell again this week by 62, falling to 602, with the total oil and Continue Reading