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Oil Price
Oil & Gas
U.S. Goes Ahead With Oil, Gas Lease Sales Despite Price Crash
Despite calls for immediate suspension of oil and gas drilling lease sales on federal land amid slumping prices, the U.S. will hold lease sales this week in fou
Oil & Gas
Libya Says Oil Shutdown Losses Exceed $3.5 Billion
Libya's oil company says economic fallout from a protracted blockade of its vital oil facilities has resulted in losses surpassing $3.5 billion at a time when t
Oil & Gas
U.S. Diesel Cash Prices Latest to Slump from Coronavirus Fallout
U.S. ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week, after refiners boosted production in a bi
Oil & Gas
Oil Majors Are Preparing For $10 Oil
The wave of oil industry spending cuts continues, with the majors now announcing significant reductions to spending as oil remains stuck in the $20s.
Oil & Gas
US Diesel Cash Prices Latest to Slump From Coronavirus Fallout
US ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week.
Oil & Gas
Algeria Says to Slash Spending in Response to Oil Price Crash
The President announced a 30% cut in the state's operating budget, but did not specify a new level of spending.
Oil & Gas
Not Even Higher Oil Prices Can Save U.S. Shale
The U.S. shale industry is burning through cash so fast that even the state of Texas is looking at government rationed production targets. Texas Railroad Commis
Oil & Gas
Trump’s Ultimate Weapon To End The Oil War
U.S. President Donald Trump is facing increasing calls from some U.S. senators and congressmen to pressure Saudi Arabia into ending the oil price war, with one
Oil & Gas
Russia Moves In On European Gas Markets As Oil Prices Crash
Russia sees a silver lining in the oil price collapse—it now believes that the oil price war will help it win the war for natural gas market share in Europe.
Oil & Gas
Oil Prices Can Go as Low as $20 Per Barrel, Level Not Sustainable for Any Country
Starting in April, major oil producers are planning a big increase in production.
Oil & Gas
The Price War Could Kill The UK's Oil Industry
The UK’s oil and gas industry has called on the government to help the sector as it faces three separate challenges, that could see production plummet.
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
Oil Price Won’t Impact Renewable Strategies Says IRENA Director-General
The turmoil in the oil market is unlikely to have a major impact on renewable energy plans and investment.
Oil & Gas
PetroVietnam Says Considers Stockpiling Oil Amid Low Prices
Vietnam Oil and Gas Group, known as PetroVietnam, said on Wednesday it was considering stockpiling crude oil amid low prices while exploring measures to cope wi
Oil & Gas
Russia Sees Oil & Gas Income Fall By Almost $40 Billion
Russia’s revenues from oil and gas will be US$39.5 billion (3 trillion rubles) lower than planned, due to the tumbling oil prices, Russian Finance Minister Ant
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