Crude oil

Crude Oil

$10 Oil Forces U.S. Drilling Giant To File For Bankruptcy

Diamond Offshore Drilling has filed for Chapter 11 bankruptcy protection, becoming the second major victim of the oil market crash so far, after Whiting Petrole…

Crude Oil

Oil Majors May Be Forced To Cut Crude Output In Nigeria

The new OPEC+ production cut deal to remove a total of 9.7 million bpd from the market in May and June enters into force on May 1.

Crude Oil

Saudi Arabia Starts Production Cuts Ahead Of OPEC+ Deal

Oil prices plummeted again on Monday, with WTI Crude crashing by 23 percent to just $13 a barrel at 2:30 p.m. EDT.

Crude Oil

Petrobras Reverses Production Cuts as Fuel Demand Beats Expectations

Petrobras has cancelled most of the cuts it had announced.

Crude Oil

Algeria Says Proven Oil Rserves at 10 Billion Barrels

OPEC member Algeria's proven oil reserves are currently 1.34 million tonnes, or 10 billion barrels, Energy Minister Mohamed Arkab said on Sunday.

Oil Shale

The Shale Suffering Has Only Just Begun

A few weeks before the summer driving season begins, U.S. gasoline consumption has plummeted to levels last seen in the late 1960s, due to the lockdowns to cont…

Oil & Gas Trade

Covid-19: Saving Nigeria from the Peril of Oil Economy

It is no gainsaying the fact that the global pandemic Coronavirus has made the world economy to shrink. With a sudden shutdown of most countries to contain the …

Crude Oil

Venezuela's Oil Output Could Fall Again Soon

On Tuesday, the Trump administration told the last remaining American oil companies in Venezuela.

Crude Oil

How the U.S. Could Use Taxpayer Dollars to Save Oil and Energy Companies

The U.S. federal government is looking at "a whole bunch of alternatives" to support oil and other energy companies.

Crude Oil

Russia Cuts European Sea Ports Oil Exports To 20-Year-Low

Exports of Russia’s key export blend Urals are expected to slump to the lowest level since at least the early 2000s, according to data from Refinitiv Eikon.

Crude Oil

Whether Opec+ Formally Agrees or not, Deeper Oil Cuts Now Look Inevitable

Whether or not Opec+ oil producers formally agree to extra oil output curbs, rapidly filling storage capacity and plummeting demand due to the coronavirus crisi…

Crude Oil

U.S. Crude Oil Production Decreases Last Week: EIA

U.S. crude oil production decreased during the week ending April 17, the U.S. Energy Information Administration (EIA) said Wednesday.

Crude Oil

Azerbaijan Imposes Oil Cuts on BP-Led Fields

Azerbaijan's BP-led Azeri-Chirag-Guneshli project will have to cut output sharply from May for the first time ever as the country moves to meet its commitment u…

Crude Oil

In Rare Development, Oil Majors Are Forced To Cut Output Under OPEC Deal

A British Petroleum-led project in Azerbaijan will have to cut production in May for the first time as Azerbaijan will need to take drastic measures to meet its…

Oil & Gas Trade

Canada’s Oil Has Nowhere To Go As The US Runs Out Of Storage

Collapsing demand and brimming storage in the United States, Canada’s almost exclusive oil outlet, have resulted in a very usual situation in the Canadian oil …