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ExxonMobil Posts First Consecutive Quarterly Losses Since the Mid-80s
Oil major ExxonMobil reported a back-to-back quarterly loss for the first time in over three and a half decades.
Why Oil Remains Stuck at $40
Oil prices posted gains once again on Wednesday on the back of bullish data from the EIA, but analysts are warning that plenty of downside risks remain.
MENA Fund to Increase Saudi Investments with Eye to Recovery
Middle Eastern fund managers plan to increase investments in Saudi Arabia in the current quarter, betting on the kingdom’s ability to bounce back from the coro…
Another Permian Oil Producer Files For Bankruptcy
Permian oil producer Rosehill Resources said on Monday that it had filed for bankruptcy protection, becoming the latest shale casualty of the collapse in oil pr…
How One Oil Major Excelled As Prices Crashed
When oil prices plunged to historic lows in April, the majority of oil producers, including OPEC+ nations, responded by drastically cutting production to get ri…
Oil steady as U.S. Stimulus Hopes Counter Demand Concerns
Oil prices were steady on Tuesday as hopes for additional U.S. measures to stimulate the economy countered a demand outlook dampened by rising of coronavirus ca…
Oil Prices Edges up on Weak Dollar, U.S.-China Tensions Weigh
Brent crude LCOc1 was up 26 cents at $43.57 a barrel at 0944 GMT, while U.S. West Texas Intermediate (WTI) crude CLc1 was up 29 cents at $41.36.
Oil Price of $40-43 per Barrel more or Less Balanced
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after the weakening …
Global Oilfield Services Under Pressure from Oil Price Drop
Exploration-focused oilfield service companies will face the largest demand decline as a result of oil and gas producers cutting their capex and operating expen…
The Middle East Nation Reopening its Doors to Iraqi Oil
It will also serve to consolidate the Shia crescent of power falling across the region by dint of Iran, and its prime backers, China and Russia.
Oil Rises Slightly Ahead of OPEC+ Meeting
Oil prices rose slightly on Tuesday as OPEC and its allies cut production by more than agreed to in June.
Oil Down as Opec+ Prepares to Lower Output Quotas
Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus sur…
Oil & Gas Trade
North American Oil And Gas Companies Continue to Go Bankrupt at $40 Oil
The rash of oil and gas bankruptcies in North America is set to continue for the remainder of 2020.
European Oil Giant Slashes Oil Price Forecast To $48 Per Barrel In 2021
Italy's Eni lowered its long-term oil price assumptions on Tuesday.
Oil Price Crash Causes Major Recession In Russia
The oil price crash that Russia helped create, along with the coronavirus-driven global recession, will result in Russia’s economy shrinking this year by the m…