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Oil tests $40 as OPEC’s extra barrels loom on the horizon

SINGAPORE (Bloomberg) --Oil edged below $40 a barrel as OPEC+ producers started supplying more crude to a global market where many countries are still struggling to contain the coronavirus. The Organization of Petroleum Exporting Countries......【More】

2020-08-04

OPEC+ plans to pump more crude into a precarious global oil market

LONDON (Bloomberg) - From quiet skies over Europe to sparse traffic in Americas biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus. That poses a particularly delicate challenge for the OPEC carte......【More】

2020-08-03

Oil prices stabilize as OPEC compliance eases U.S. demand fears

NEW YORK (Bloomberg) --Crude futures in New York rose in tandem with a broader recovery in equities markets, as initial signs that OPEC members intend to comply with promised oil-production cuts assuaged fears that a resurgence in coronavir......【More】

2020-07-15

Oil prices climb on prediction of swift demand rebalance

SINGAPORE (Bloomberg) - Oil rose above $34/bbl, following a prediction from Russia that the market may rebalance as early as next month due to historic output cuts from global producers. Russia, a key member of the OPEC+ alliance that has p......【More】

2020-05-27

Swift production declines may keep shale operators on oil rebound’s sidelines

HOUSTON (Bloomberg) --Oil prices have surged more than 75% in the U.S. this month. But dont expect a quick rebound in supply from shale explorers. The quick turnaround in oil markets is exposing the shale industrys Achilles heel: Lightning-......【More】

2020-05-25

Libyan oil uncertainty grows as crippling civil war drags on

CAIRO (Bloomberg) - The revival of Libyas oil industry looks even less certain following recent setbacks suffered by Khalifa Haftar, the commander trying to take over the last swaths of the country outside his control. Forces aligned with F......【More】

2020-05-22

Alaskan and Canadian oil finds new Chinese buyers as their economy restarts

CALGARY (Bloomberg) - Canadian and Alaskan crude that normally travels to the U.S. West Coast is finding a market in China, where demand is almost back to pre-pandemic levels. The Sofia became the second oil tanker in less than a month to s......【More】

2020-05-21

China paying a premium for select crudes illustrates demand’s return

(Bloomberg) --For a sneak peek at the return of Chinese oil demand, look no further than the rebound in price of the nations favorite grades. In the last few days a Chinese state-owned refiner bought Brazils Lula crude for August arrival at......【More】

2020-05-15

Undercutting rivals helps Saudis grow share in key oil markets

DUBAI (Bloomberg) --The uneasy truce that settled over oil markets this month as some of the worlds largest producers began cutting output belies the raging competition among exporters seeking to preserve their share of a diminished market.......【More】

2020-05-08

Ample storage and a recovering China insulate Petrobras from the oil glut

RIO DE JANEIRO (Bloomberg) --Petrobras, Brazils state-controlled oil giant, is plowing through a global oil glut expecting that exports to China will soon rebound, and with extensive storage capacity helping it endure in the meantime. Deman......【More】

2020-04-30