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Oil demand
Crude Oil
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 Bloomber…
Crude Oil
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 bigges…
Oil & Gas Trade
Oil Price crash: 3 Things You need to Know Today
On Monday 9th March 2020, the oil price saw its biggest fall in 30 years. Here’s our analysts’ rapid response to the oil price crash. Look out for more detail…
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…
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…
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…
Crude
Russia: Coronavirus Impact On Oil Is Worse Than Expected
Russia continues to refuse to announce its position regarding deeper cuts by the OPEC+ coalition, but admitted that the coronavirus outbreak could lead to addit…
Oil & Gas Trade
IEA: Coronavirus May Hit Oil Demand Growth More Than Expected
The coronavirus outbreak could hit global oil demand growth more than currently expected, the head of the International Energy Agency (IEA) said on Tuesday, add…
Crude
Russia Still Elusive On Deeper OPEC+ Oil Production Cuts
Russia is still reviewing the recommendation of the OPEC+ technical panel for additional cuts of 600,000 bpd in response to the slump in oil demand over the cor…
Crude
OPEC+ Panel Calls for More Oil Cuts on Coronavirus Impact
An OPEC, non-OPEC technical panel has recommended extending a current oil supply cut pact until the end of 2020 and more output reductions due to the impact of …
Oil Price
Oil Prices Jump 2% as Virus Vaccine Reports Spur Hope
Also supporting oil was news that the Organization of the Petroleum Exporting Countries (OPEC) and its producer allies were considering further output cuts to c…
Oil & Gas Trade
Coronavirus could Push Global Oil Market into Surplus
Almaty. February 4. KazTAG - The coronavirus outbreak could curb oil demand growth if it continues to spread, leading to an extended production surplus as produ…
Oil & Gas Trade
OPEC+ Considers 500,000 Bpd Cut In Emergency Meeting
The OPEC+ group of producers are said to be considering deepening the cuts by another 500,000 bpd, due to depressed oil demand amid the virus outbreak, OPEC and…
Oil & Gas Trade
China’s Oil Demand Drops 20%
Chinese oil demand has dropped by about three million barrels a day, or 20 per cent of total consumption, as the coronavirus squeezes the economy.
Oil & Gas Trade
Oil Falls Below $61, Heading for Weekly Loss on China Virus Concerns
Oil extended losses on Friday to trade below $61 a barrel, heading for a weekly decline as concern that the coronavirus in China may spread.
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