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Oil & Gas
OPEC Cuts Oil Demand Forecast For 2020, Again
OPEC revised down by another 400,000 bpd its forecast for global oil demand this year, expecting consumption to shrink by 9.5 million bpd over 2019.
Oil & Gas
Oil Prices Fall As Libya Reopens Ports
Libyan strongman General Khalifa Haftar has pledged to reopen the country’s oil ports this weekend, the U.S. embassy in the North African country said in a sta
Oil & Gas
Oil Edges Higher Ahead of Opec+ Meeting with Demand in Focus
Oil edged higher toward US$38 a barrel in New York ahead of an OPEC+ meeting this week that will assess the group’s production cuts as the recovery from virus-
Oil & Gas
Russia’s Central Bank Warns That Oil Could Slide To $25
Russia’s central bank has warned that crude oil prices could slump to $25 in its risk scenario for monetary policy over the next three years, TASS reports.
Oil & Gas
Saudi Economic Outlook Sours After Oil Price Crash
Saudi Arabia’s economic outlook for this year remains uncertain amid the pandemic-driven economic slowdown and the collapse in oil prices that led to the Kingd
Oil & Gas
Russia’s Novak Says 2020 Oil Demand Could Fall by Up to 10 Million bpd
Global oil demand could fall by 9-10 million barrels per day this year due to impact of the COVID-19 pandemic, Russian Energy Minister Alexander Novak said on F
Oil & Gas
Canadian Oil Prices Rise On Pipeline Shutdown
The Canadian heavy oil benchmark rose on Wednesday after a pipeline carrying diluent necessary for oil sands production was shut down following a leak over the
Oil & Gas
Goldman Expects Oil To Reach $65 Next Year
Goldman Sachs expects Brent crude to reach $65 a barrel in the third quarter of 2021, although it could end the year lower, at $58 a barrel.
Oil & Gas
Putin Would Like To See Oil Prices Above $46 Per Barrel
It would be better for Russia if oil prices were higher than $46 a barrel, Russian President Vladimir Putin said on Thursday.
Energy Economy
Saudi Aramco Profit Drops 50% for First Half of the Year as Pandemic Batters Oil Price
Oil giant Saudi Aramco reported a 50% fall in net income for the first half of its financial year, reflecting a devastating year for oil markets and the global
Video
Why Oil is up 80% in a Month?
Why oil is up 80% in a month?
Oil & Gas
ExxonMobil Posts First Consecutive Quarterly Losses Since the Mid-80s
Oil major ExxonMobil reported a back-to-back quarterly loss for the first time in over three and a half decades.
Oil & Gas
Why Oil Remains Stuck at $40
Oil prices posted gains once again on Wednesday on the back of bullish data from the EIA, but analysts are warning that plenty of downside risks remain.
Oil & Gas
Another Permian Oil Producer Files For Bankruptcy
Permian oil producer Rosehill Resources said on Monday that it had filed for bankruptcy protection, becoming the latest shale casualty of the collapse in oil pr
Oil & Gas
How One Oil Major Excelled As Prices Crashed
When oil prices plunged to historic lows in April, the majority of oil producers, including OPEC+ nations, responded by drastically cutting production to get ri
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