Oil

Oil & Gas Trade

IEA: Oil Demand To Drop For First Time Since 2009

Global oil demand is set to drop this year for the first time since the financial crisis in 2009, the International Energy Agency (IEA) said on Monday, as it sl…

Oil Price

Saudi Arabia, Russia Brawl Creates Crude Turmoil

​Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signalled they woul…

Crude

Coromavirus Now Poised to Wipe Out Most of 2020 oil Demand Growth, No OPEC Cure in Sight

The spread of coronavirus continues to deepen the severity of the blow to global fuels demand. Rystad Energy now expects more than half of global oil demand gro…

Crude

Australia Inks Deal With U.S. for Access to Strategic Petroleum Reserve

Australia said it will sign a deal with the U.S. this week giving it access to crude oil from to America’s Strategic Petroleum Reserve during an emergency.

Oil & Gas Trade

Aramco Shares Fall 9%; Below IPO Price for First Time as OPEC Pact Unravels

Shares of Saudi state oil company Aramco (2222.SE) slumped below their initial public offering (IPO) price on Sunday for the first time since they began trading…

Oil Price

Oil Prices Dive as Saudi Arabia Takes Aim at Russian Production

Russia on Friday rejected an agreement with OPEC on cuts in oil supplies to bolster prices.

Oil Price

Wall Street Oil Outlook Crumbles as Goldman Sees Contraction

Goldman Sachs Group Inc. became the first major Wall Street bank to anticipate that global oil demand will contract in 2020 for only the fourth time in nearly 4…

Oil & Gas Trade

Saudi Arabia to up Oil Production after Opec Deal Falls Through

World’s largest oil exporter Saudi Arabia is planning to ramp up production to nearly 11m barrels a day in April after the three year alliance between oil cart…

Oil & Gas Trade

Kazakhstan in Talks with PetroChina after Force Majeure on Gas Supplies

Kazakh natural gas exporter Kaztransgas is discussing further gas supplies with PetroChina after it issued a force majeure notice citing the coronavirus outbrea…

Crude

OPEC’s Pact with Russia Falls Apart, Sending Oil Into Tailspin

A three-year honeymoon between OPEC and Russia ended in acrimony on Friday after Moscow refused to support deeper oil cuts to cope with the outbreak of coronavi…

Oil & Gas Trade

CNOOC Has Fully Resumed, Recovering From the Effect of Coronavirus

On March 6, the reporter learned from China National Offshore Oil Corporation that, with full coordination efforts, up to now, CNOOC's projects under constructi…

Wind Farm

Spanish Oil Major Repsol to Build 860MW of Wind Farms at Home

Spanish oil major Repsol will build and operate 860 megawatts spanning 26 new wind farms in its home country, nearly doubling its pipeline of renewables project…

Oil & Gas Trade

OPEC+ Stuck Yet Again as Saudi Arabia and Russia Disagree on Output Cuts

The OPEC+ found itself stuck yet again, after a day of talks that ended with its two most important members split over whether they should deepen production cut…

Oil & Gas Trade

Saudis Lobby for Million-Plus-Barrel OPEC Cuts, Extending Oil’s Gains

Oil rose for a third day after Saudi Arabia pushed for a deeper output cut than OPEC’s technical committee recommended a day earlier.

Oil & Gas Trade

Oil Looks Into Abyss as Coronavirus Threatens Demand Contraction

Flights canceled in Europe, schools closed in Japan, towns quarantined in Italy and panic in California. The coronavirus crisis has gone global, and with it, it…