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Oil demand
Oil & Gas Trade
Chinese Oil Demand has Almost Rebounded to Pre-Pandemic Levels
Oil demand in China has almost returned to its level before the coronavirus pandemic spurred the government to impose lockdowns and shut down industries.
Oil & Gas Trade
Pandemic Punches 1.7-Billion-Barrel Hole in Global Oil Demand
The scale of the demand hit means that despite producers implementing unprecedented output cuts, stockpiles will soar this year.
Market Analysis
Global Oil Demand Could Take Years To Recover
Global oil demand will take at least a year to return to the pre-crisis levels of 100 million barrels per day , Fatih Birol, Executive Director of the Internati…
Oil & Gas Trade
OPEC Expects Global Oil Demand Hits Biggest Downfall
The Organization of the Petroleum Exporting Countries now expects global demand to contract by 9.07 million barrels per day, or 9.1 per cent, in 2020, it said i…
Oil & Gas Trade
India Oil & Gas Industry Might Need More Time to Recover
Most O&G CXOs believe that the recovery for the sector is likely to be longer, and more protracted than anticipated.
Crude Oil
U.S. Crude Output to Drop, Oil Demand to Slump by 2.2 Million Barrels Per Day in 2020
U.S. oil demand is expected to fall by about 2.2 million barrels a day in 2020.
Oil Price
Oil Glut Drives Oil Prices Lower
Oil prices opened about 1% lower on Monday in Asia as a persistent glut continued to weigh on prices and the coronavirus pandemic eroded global oil demand even …
Crude Oil
Goldman Sachs: Oil Demand Could Exceed Supply By End-May
Oil demand could rebound enough to exceed supply by the end of this month, Goldman’s head of commodities Jeffrey Currie told Barron’s Market Brief, noting tha…
Oil & Gas Trade
Saudi Arabia's Oil Exports to Drop in May as Demand Slides
Saudi oil exports are expected to fall to about 6 million barrels a day in May, the lowest in nearly a decade.
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
Australia's Woodside Sees Low Oil Prices into 2021
Australian independent Woodside Petroleum expects low oil prices to persist for the rest of 2020 and into next year.
Oil & Gas Trade
Belarus Buys First Oil from Saudi Arabia: Refiner Belneftekhim
Belarus, long dependent on Russian oil, has bought its first barrel of crude from Saudi Arabia.
Oil & Gas Trade
Russia’s Energy Ministry Expects Gradual Revival in Oil Demand in Second Half of Year
Minister Alexander Novak said before it happens oil producing countries should avoid filling of oil storage facilities to the full and prevent a market collapse…
Oil&Gas Drilling
Diamond Offshore Files for Chapter 11 Bankruptcy Amid Historic Oil Price Crash
Diamond Offshore Drilling Inc., a rig contractor owned by Loews Corp., filed for bankruptcy.
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.
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