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Crude Oil
Russia Calls For Market Share Target For OPEC+
It would make sense for the OPEC+ coalition of oil producers to begin monitoring the group’s market share to measure how effective the OPEC+ actions are.
Crude Oil
Russian Oil Production Set For First Annual Drop Since 2008
Due to the OPEC+ production cut deal, Russia’s oil production could decline by 15 percent annually in 2020, Russian Energy Minister Alexander Novak told news a…
Oil&Gas Drilling
Russia’s Grand Plan For Arctic Oil Is Under Threat
Russia's oil sector has been at the center of virtually all developments in its modern history. Imperial Russia already produced oil in the early days of the in…
Oil & Gas Trade
U.S. Oil Futures Plunge Nearly 25 Pct Amid Fears of Filled Storage
Oil prices fell significantly on Monday with the U.S. benchmark down nearly 25 percent amid fears over a growing scarcity of oil storage space.
Crude Oil
U.S. Oil Companies Begin Sending Crude To Strategic Petroleum Reserve
U.S. oil companies have started sending oil to the Strategic Petroleum Reserve, Bloomberg reports, citing a Department of Energy official.
Oil Price
Oil Fund's Forced Sales Send WTI Prices Plunging Again, Says Kemp
Front-month U.S. light crude oil futures prices slumped almost 25% yesterday,
Crude Oil
$10 Oil Forces U.S. Drilling Giant To File For Bankruptcy
Diamond Offshore Drilling has filed for Chapter 11 bankruptcy protection, becoming the second major victim of the oil market crash so far, after Whiting Petrole…
Crude Oil
Oil Majors May Be Forced To Cut Crude Output In Nigeria
The new OPEC+ production cut deal to remove a total of 9.7 million bpd from the market in May and June enters into force on May 1.
Crude Oil
Saudi Arabia Starts Production Cuts Ahead Of OPEC+ Deal
Oil prices plummeted again on Monday, with WTI Crude crashing by 23 percent to just $13 a barrel at 2:30 p.m. EDT.
Crude Oil
Petrobras Reverses Production Cuts as Fuel Demand Beats Expectations
Petrobras has cancelled most of the cuts it had announced.
Oil & Gas Trade
Iran's Petrochem Revenues to Drop by 30 Pct over COVID-19
Iran's revenues from exports of petrochemical products will decrease by nearly one third as the novel coronavirus pandemic has posed an adverse effect on the in…
Crude Oil
Algeria Says Proven Oil Rserves at 10 Billion Barrels
OPEC member Algeria's proven oil reserves are currently 1.34 million tonnes, or 10 billion barrels, Energy Minister Mohamed Arkab said on Sunday.
Market Analysis
When Oil Became Waste: A Week of Turmoil for Crude, and More Pain to Come
In its nearly 40-year history, U.S. oil futures have never fallen below $10 a barrel.
Oil Shale
The Shale Suffering Has Only Just Begun
A few weeks before the summer driving season begins, U.S. gasoline consumption has plummeted to levels last seen in the late 1960s, due to the lockdowns to cont…
Oil & Gas Trade
Covid-19: Saving Nigeria from the Peril of Oil Economy
It is no gainsaying the fact that the global pandemic Coronavirus has made the world economy to shrink. With a sudden shutdown of most countries to contain the …
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