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Crude Oil
Oil & Gas
Fuel Consumption Sees Drastic Drop
Despite petrol bunks having remained open during the lockdown period, the consumption of diesel and petrol has come down drastically.
Oil & Gas
BP Reduces Investment Plan by 25% in 2020 to US$12bn
BP has cut its 2020 spending plan by a quarter, from US$15bn to US$12bn, including a US$1bn reduction investment in short-cycle onshore activity.
Oil & Gas
Trump Says world’s Biggest Oil Producers to Meet on Market Crash
President Donald Trump said the US would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices.
Oil & Gas
How Russia Is Shedding Its Venezuelan Assets
Russia has set up a wholly state-owned oil company named Roszarubezhneft after Rosneft announced it would exit Venezuela and ditch its Venezuelan assets to a ne
Oil & Gas
Russia's Largest Oil Producer Halts Operations In Venezuela
Russia’s largest oil producer, Rosneft, has announced that it is halting operations in Venezuela and selling its assets there to a company fully owned by the R
Oil & Gas
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 & Gas
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
Oil & Gas
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
Thai Oil Refiners Cut Output as Fuel Demand Falls: Sources
Thailand is one of the largest oil refining centers in southeast Asia.
Oil & Gas
Oil Ekes Out Gains as U.S. Stimulus Hopes Lift Global Markets
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid packa
Oil & Gas
Azerbaijan Could Soon Tap Its 410 Million Barrel Oil Reserves
Azerbaijan says it has proven an oil deposit in the Caspian Sea is commercially viable, offering a small psychological boost as the country’s oil-based econo
Oil & Gas
US to Top Up Strategic Oil Reserve With 77 Mln Barrels
The Trump administration cancelled plans to sell off a portion of the country's emergency oil reserves earlier this month as OPEC+'s failure to reach an agreeme
Oil & Gas
US Seeks $3 Billion to Boost Oil Producers as Prices Plunge
The Trump administration said Thursday that it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping u
Oil & Gas
U.S. Could start Buying Crude for Strategic Petroleum Reserve in two Weeks
The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve as soon as two weeks from now, and fill it in several month
Oil & Gas
Saudis Sell Oil at $25 in Market Share Grab from Russia
Saudi Arabia is preparing to flood markets with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in Europe and Asia,
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China’s Recovery in Crude Oil Imports Is More Bearish Than Bullish
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Petron secures 2.5M barrels of Russian crude oil
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EIA Confirms Turkmenistan’s Rising Oil Reserves
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USA EIA Reveals Latest Gasoline and Diesel Price Forecasts
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Venezuela Approves 15-Year Extension of Russia-Linked Oil Joint Ventures
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China’s Sinopec Upgrading Xinjiang Refining and Chemical Projec
