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Oil Price

Oil Crash Puts Africa's Cash-Strapped Producers in Peril

The collapse in oil prices has left African oil producers facing a loss of revenue at a time when they need it most to fight coronavirus.

Crude Oil

US Suspends Plans to Buy Crude Oil for the Strategic Petroleum Reserve

The US administration has suspended plans to purchase US crude oil for the Strategic Petroleum Reserve (SPR), after failing to secure funding from the Congress,…

Oil Price

Calls Mount for New OPEC+ Deal as Oil Prices and Demand Slide

Oil producers need to resume cooperation in an effort to stabilize the global market, Russian and OPEC officials said, as the industry reels from a demand and p…

Oil Price

Russia’s Plan To Bankrupt U.S. Shale Could Send Oil To $60

As soon as U.S. shale leaves the market, prices will rebound and could reach $60 a barrel, Rosneft’s Igor Sechin said recently.

Oil Price

After Oil Price Crash, Russia Looks for OPEC Deal

Russian officials were reportedly looking to establish another OPEC+ deal to balance oil markets.

Oil Price

The Cheapest Way For Trump To Save U.S. Oil

The President of the United States has the power, at his sole discretion without any other authority, to place a fee on imported oil or products.

Oil Price

Saudi Arabia Says no Talks on New Oil Deal, Moscow Suggests Larger OPEC+

Saudi Arabia said on Friday that it is not in talks with Russia to balance oil markets, despite rising pressure from Washington to stop a price rout, amid the c…

Oil & Gas Trade

Demand Destruction Foils Saudi Arabia’s Plan To Flood Europe With Oil

Saudi Arabia has promised a flood of cheap oil to Europe as it aims to hit its former ally Russia in its own backyard, but it looks like demand for the ultra-ch…

Green Initiatives Almost Derailed The $2 Trillion Stimulus Bill

Oil prices crashed on Monday when the US Senate failed to reach a deal on the Stimulus Bill over the weekend. The idea was to quickly pass legislation that woul…

Market Analysis

Russia Will Ignore Oil Markets In G-20 Video Summit

The oil market will not be a topic of discussion at the G-20 video summit later on Thursday, the Kremlin spokesman Dmitry Peskov told reporters when asked about…

Oil Price

Can The U.S. Convince Saudi Arabia To End The Oil War?

US Secretary of State Michael Pompeo is applying verbal pressure to Saudi Arabia, encouraging the Middle Eastern country who started the oil price war to “rise…

Oil Price

Oil Climbs As U.S. Pushes For An End To The Price War

Oil prices continued to rise for the third day in a row, recovering earlier losses as U.S. lawmakers pressure Saudi Arabia to end the oil war.

Oil Price

Not Even The $2 Trillion Stimulus Package Can Save Oil Markets

The package would provide $2 trillion in funding, allocated directly to the White House’s plan which includes purchasing 77 million barrels of oil for the Stra…

Oil & Gas Trade

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 …

Oil Price

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.