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Crude Oil
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 Trade
India's Top Refiner Declares Force Majeure On Oil Imports From Saudi Arabia
Indian Oil Corp (IOC), the country’s biggest refiner and fuel retailer, has declared a force majeure on oil imports from some of its top oil suppliers, includi…
Oil Price
The U.S. is About to Lose its Place as the World's Largest Oil Producer
The United States may lose its top spot among oil producers globally this year, according to economists.
Oil Price
U.S. Crude Dips Below US$20 as Lockdowns Wipe Out Demand
Oil prices fell sharply on Monday, with U.S. crude briefly dropping below US$20 and Brent hitting its lowest level in 18 years, on heightened fears that the glo…
Oil Price
Oil Crash Puts Africa's Cash-Strapped Producers in Peril
The collapse in oil prices has left African oil producers facing a loss of revenue at a time when they need it most to fight coronavirus.
Crude Oil
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 Price
Calls Mount for New OPEC+ Deal as Oil Prices and Demand Slide
Oil producers need to resume cooperation in an effort to stabilize the global market, Russian and OPEC officials said, as the industry reels from a demand and p…
Oil Price
Russia’s Plan To Bankrupt U.S. Shale Could Send Oil To $60
As soon as U.S. shale leaves the market, prices will rebound and could reach $60 a barrel, Rosneft’s Igor Sechin said recently.
Oil Price
After Oil Price Crash, Russia Looks for OPEC Deal
Russian officials were reportedly looking to establish another OPEC+ deal to balance oil markets.
Oil Price
The Cheapest Way For Trump To Save U.S. Oil
The President of the United States has the power, at his sole discretion without any other authority, to place a fee on imported oil or products.
Oil Price
Saudi Arabia Says no Talks on New Oil Deal, Moscow Suggests Larger OPEC+
Saudi Arabia said on Friday that it is not in talks with Russia to balance oil markets, despite rising pressure from Washington to stop a price rout, amid the c…
Oil & Gas Trade
Demand Destruction Foils Saudi Arabia’s Plan To Flood Europe With Oil
Saudi Arabia has promised a flood of cheap oil to Europe as it aims to hit its former ally Russia in its own backyard, but it looks like demand for the ultra-ch…
Green Initiatives Almost Derailed The $2 Trillion Stimulus Bill
Oil prices crashed on Monday when the US Senate failed to reach a deal on the Stimulus Bill over the weekend. The idea was to quickly pass legislation that woul…
Market Analysis
Russia Will Ignore Oil Markets In G-20 Video Summit
The oil market will not be a topic of discussion at the G-20 video summit later on Thursday, the Kremlin spokesman Dmitry Peskov told reporters when asked about…
Oil Price
Can The U.S. Convince Saudi Arabia To End The Oil War?
US Secretary of State Michael Pompeo is applying verbal pressure to Saudi Arabia, encouraging the Middle Eastern country who started the oil price war to “rise…
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