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Oil Price
Diesel Prices Fall Again on the Back of Easing Global Crude Oil Prices
Diesel prices continued to decline for the fourth consecutive day on Sunday on the back of falling global crude prices. In the national capital, diesel was pric…
Market Analysis
Big Oil Confronts Possibility of Terminal Demand Decline
Although crude prices have rebounded from coronavirus crisis lows, oil execs and experts are starting to ask if the industry has crossed the Rubicon of peak dem…
Crude Oil
Rig Count Plunges Below 300 in 13th-Straight Week of Losses
The number of operating drilling rigs in the U.S. fell below 300 for the first time, as energy companies continue to shut down oil-field operations amid low cru…
Solar Power Plant
‘World’s Largest Concentrated Solar Plant’ Progresses Despite Covid-19
Global oil refining production could start rebounding in June, the International Energy Agency said on Thursday, but refiners’ margins may be squeezed due to r…
Oil Shale
U.S. Shale Needs To Slow Down To Survive
Global oil refining production could start rebounding in June, the IEA said on Thursday, but refiners’ margins may be squeezed due to rising crude prices as pr…
Oil & Gas Trade
Saudi Aramco Will Continue to be Under Pressure as First-quarter Profit Slides 25%
Saudi Aramco reported a 25% fall in net income for the first quarter on Tuesday, as the state-owned oil giant battles with a dramatic slide in crude prices and …
Oil Shale
Exxon, Chevron Slam Brakes on Shale as Oil Demand Tumbles
Exxon Mobil Corp and Chevron Corp are slamming the brakes on U.S. shale oil production at a time when crude prices and fuel demand have plunged due to global …
Oil Price
Equinor Cuts First-Quarter Dividend by 67% Amid Oil Price Crash
Norwegian oil firm Equinor (EQNR.OL) will cut its quarterly dividend payment by two-thirds as part of an effort to preserve cash amid the collapse in crude pric…
Oil&Gas Drilling
Aker BP Postpones Oil Developments Amid Market Turmoil
The company has suspended all oil and gas development projects that have not yet received board approval because of the coronavirus-related plunge in crude pric…
Crude Oil
Trump Calls for U.S. Oil Industry Bailout as Prices Plunge
U.S. President Donald Trump said on Tuesday he has asked his cabinet to devise a plan to inject cash into the ailing U.S. oil-drilling industry to help it survi…
Oil Price
Saudi Arabia Cuts May Crude Prices to Asia by $4.2 Per Barrel
Saudi Arabia's state oil giant Aramco has set the May price for its Arab light crude oil to Asia at a discount of $7.3 to the Oman/Dubai average.
Crude Oil
The World’s Biggest Oil Deal Can’t Save Crude Prices
G20 countries are set to send their oil minister for an emergency meeting on Friday, a sign that there is a chance that OPEC and Russia can pull in other oil-pr…
Crude Oil
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 Price
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…
Asian Markets Fall as Coronavirus Hits Earnings, Growth
China is the world's biggest importer and consumer of oil, and crude prices have been particularly sensitive to the epidemic that has spread to nearly 30 countr…
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