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Oil & Gas

Oil Prices Post 3% Annual Decline

Oil Prices Post 3% Annual Decline

Crude Oil
26-03-2020

World’s Largest Oil Trader Says Demand Could Plummet By 20 Million Bpd
A dramatic change in oil demand coupled with an unexpected increase in production has upended the industry, Vitol’s chief executive Russell Hardy told Bloomberg in an interview.
Oil & Gas Trade
26-03-2020

Russia’s Unexpected Advantage in The Oil Price War
While the ruble is now at its lowest level against the dollar in four years, the cheaper ruble has a silver lining for Russia’s oil producers in the oil price war for market share with Saudi Arabia.
Crude Oil
26-03-2020

Global Oil Demand Forecast to Fall by 4.9 Million Barrels Per Day in 2020: Rystad
Global oil demand could fall by as much as 4.9 million barrels per day (bpd), or by about 4.9 per cent, in 2020 due to the coronavirus outbreak, Norway's biggest independent energy consultancy Rystad Energy said on Wednesday.
Oil Price
25-03-2020

UK Supermarkets Cut Fuel Prices As Oil Continues to Plunge
The RAC said it is the largest single cut it has seen and predicted it will result in prices sinking to a four-year low.
Oil Shale
25-03-2020

What Happens if U.S. Shale Goes Bust?
This month has seen a spectacular oil price crash the likes of which we haven't seen in decades. The last time we had since a single day oil price drop as drastic as Monday, March 9 was way back in 1991.
Crude Oil
25-03-2020

Thai Oil Refiners Cut Output as Fuel Demand Falls: Sources
Thailand is one of the largest oil refining centers in southeast Asia.
Crude Oil
25-03-2020

Oil Ekes Out Gains as U.S. Stimulus Hopes Lift Global Markets
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.
Oil & Gas Trade
25-03-2020

U.S. Goes Ahead With Oil, Gas Lease Sales Despite Price Crash
Despite calls for immediate suspension of oil and gas drilling lease sales on federal land amid slumping prices, the U.S. will hold lease sales this week in four states, Reuters reported on Tuesday.
Oil Price
25-03-2020

Libya Says Oil Shutdown Losses Exceed $3.5 Billion
Libya's oil company says economic fallout from a protracted blockade of its vital oil facilities has resulted in losses surpassing $3.5 billion at a time when the war-torn country struggles to prevent the new coronavirus.
Oil Price
24-03-2020

U.S. Diesel Cash Prices Latest to Slump from Coronavirus Fallout
U.S. ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week, after refiners boosted production in a bid to flee poorer margins for other products more affected by coronavirus fallout.
Oil Price
24-03-2020

Oil Majors Are Preparing For $10 Oil
The wave of oil industry spending cuts continues, with the majors now announcing significant reductions to spending as oil remains stuck in the $20s.
Oil Price
23-03-2020

US Diesel Cash Prices Latest to Slump From Coronavirus Fallout
US ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week.
Oil Price
23-03-2020

Algeria Says to Slash Spending in Response to Oil Price Crash
The President announced a 30% cut in the state's operating budget, but did not specify a new level of spending.
Shale Gas
23-03-2020

Not Even Higher Oil Prices Can Save U.S. Shale
The U.S. shale industry is burning through cash so fast that even the state of Texas is looking at government rationed production targets. Texas Railroad Commissioner Ryan Sitton laid out his idea in an article for Bloomberg Opinion, proposing the commiss
Oil Price
23-03-2020

Trump’s Ultimate Weapon To End The Oil War
U.S. President Donald Trump is facing increasing calls from some U.S. senators and congressmen to pressure Saudi Arabia into ending the oil price war, with one of his own Republican party
Shale Gas
23-03-2020

Do Saudi Arabia And Russia Really Want To Kill U.S. Shale?
Since 2016, as an informal leader of the 13-strong non-OPEC group, Russia has been instrumental in the pricing of oil as Saudi Arabia, leading producer in the Organization of Petroleum Exporting Countries. Now, both find themselves at odds as to how to re
Oil Price
23-03-2020

Russia Moves In On European Gas Markets As Oil Prices Crash
Russia sees a silver lining in the oil price collapse—it now believes that the oil price war will help it win the war for natural gas market share in Europe.
Crude Oil
22-03-2020

Azerbaijan Could Soon Tap Its 410 Million Barrel Oil Reserves
Azerbaijan says it has proven an oil deposit in the Caspian Sea is commercially viable, offering a small psychological boost as the country’s oil-based economy wilts under international price shocks.
Oil & Gas Trade
21-03-2020

Oil’s Demand Plunge Doing More Damage than The Price War
Imagine U.S. President Donald Trump makes a deal with Saudi Arabia and Russia to cut oil production. Envisage Washington, Moscow and Riyadh going big, each cutting by one million barrels a day. Bullish, right?
Oil & Gas Trade
21-03-2020

Energean Secures Gas Prices for 70% of Output
Israeli gas-focused company Energean said Tuesday it’s well-placed to weather the challenges currently posed to the industry.
Oil & Gas Trade
21-03-2020

Papua New Guinea LNG Sells Cargo at $4/MmBtu
ExxonMobil sold a shipment of liquefied natural gas in April for nearly $4 per million British thermal units.
Oil Price
20-03-2020

Oil Prices Can Go as Low as $20 Per Barrel, Level Not Sustainable for Any Country
Starting in April, major oil producers are planning a big increase in production.
Oil & Gas Trade
20-03-2020

Azerbaijan's BTC Pipeline Jan-Feb Oil Exports Down 7.3 Per Cent yr/yr
Azerbaijan's total oil exports in January-February totalled 6.271 million tonnes, about 80 per cent through the BTC.
Crude Oil
20-03-2020

US to Top Up Strategic Oil Reserve With 77 Mln Barrels
The Trump administration cancelled plans to sell off a portion of the country's emergency oil reserves earlier this month as OPEC+'s failure to reach an agreement on production cuts amid coronavirus fears prompted crude prices to nosedive.
Oil Price
20-03-2020

The Price War Could Kill The UK's Oil Industry
The UK’s oil and gas industry has called on the government to help the sector as it faces three separate challenges, that could see production plummet.

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