The World’s Biggest Oil Deal Can’t Save Crude Prices
G20 countries are set to send their oil minister for an emergency meeting on Friday, a sign that there is a chance that OPEC and Russia can pull in other Continue Reading
OPEC Can’t Kill U.S. Shale
OPEC’s strategy in the past has been to alter its oil production in order to bring about market stability. However, the rise of U.S. shale oil forced the cartel to Continue Reading
Texas Wildcatters Warming to Output Limits
Some old-guard Texas oil drillers are urging state regulators to clamp down on crude production to halt a price collapse more severe than any of them have ever lived through. Continue Reading
Russia Is Ready To Make Major Output Cuts
Russia is prepared to undertake significant cuts to its oil production, according to two Russian sources who spoke to Reuters on Monday. The markets are hanging on every word from Continue Reading
Oil Negotiators Race for Global Pact With U.S. Role in Balance
Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the historic price crash as diplomats said some progress was made on Sunday. The talks Continue Reading
Could the world really unite to boost the oil market?
Donald Trump’s claim that oil producers are going to make big cuts in output has helped propel crude prices back above $30 a barrel, from an 18-year low. Brent, the Continue Reading
Can oil ministers reach a deal on supply curbs?
Oil ministers from Opec and countries that were part of the Opec+ alliance that collapsed last month are expected to take part in an emergency meeting this week to discuss Continue Reading
Global Oil Demand Plummets, Threat To Storage Capacity
In the past two weeks, analysts have cut their global oil demand forecasts by a staggering 225%. Never in history has the world experienced such a massive reduction in global Continue Reading
Chaos and scrambling in the US oil patch as prices plummet
In Montana, a father and son running a small oil business are cutting their salaries in half. In New Mexico, an oil truck driver who supports his family just went Continue Reading
Texas Gets Double Punch From Coronavirus and Oil Shock. ‘There’s No Avoiding This One.’
Texas had one of the best economic records of any U.S. state after the 2008 financial crisis. In this crisis, it faces the prospect of a deep and prolonged downturn. Continue Reading