US commercial crude storage could hit its capacity in mid-May as refinery demand and US oil exports each plunge about 30%, triggering widespread production cuts and shut-ins throughout the country, Continue Reading
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
It was going to be a reasonably good year for oil. OPEC+ would continue to keep a lid on production to keep prices above dangerous levels, and U.S. shale would Continue Reading
The Organization of the Petroleum Exporting Countries, Russia and other countries reached a tentative agreement on Thursday to temporarily cut production. OPEC and the other oil-producing countries agreed to cut Continue Reading
Among the world’s biggest oil producers, state-run giants in China and Russia don’t need a bailout in the traditional sense. Oil industry giants in the United States aren’t likely to Continue Reading
Among the world’s biggest oil producers, state-run giants in China and Russia don’t need a bailout in the traditional sense. Oil industry giants in the United States aren’t likely to Continue Reading
UK-based oil exploration firm Pantheon Resources believes it has a huge 1.8-billion-barrel oil discovery in Alaska after evaluating an old exploration well with modern technology, the company’s top executives told Continue Reading
Occidental Petroleum is opposing a Texas-wide mandated production cut, but it is asking the U.S. Administration for federal financial assistance for the U.S. oil industry which can’t make any money Continue Reading
The world’s largest oil producers moved closer to an unprecedented deal to ratchet back production and rescue crude markets from a pandemic-driven collapse, after Russia signaled it’s ready to make Continue Reading
Expectations for future activity also fell, as most firms do not expect energy prices to return to profitable levels this year. The Federal Reserve Bank of Kansas City’s first-quarter Energy Continue Reading
