Crude Oil

Crude Oil , Trade , International

Russia’s Putin: Rollover on Oil Output Curbs by OPEC+ Possible

The comments made by Russian President Vladimir Putin are the clearest signal yet from Russia, a global leader in oil production, that it is ready to continue with unprecedented output cuts in the face of a sluggish oil market.

October 22, 2020

Crude Oil

US Crude Exports Likely to be Muted Through 2020 as Production Slides

Oil demand is down 13% as a result of the pandemic.

October 22, 2020

Business , Crude Oil , Trade

Less Than Zero: A CSI on WTI

Nymex paper-trading of WTI crude futures normally represents the spot price. On April 20, the paper was worth less than zero.

October 22, 2020

Exploration & Production , Crude Oil , Trade , International

Iraq Flags Oil Project Delays, Sees Recovery Next Year

The Iraqi oil minister said he expects Iraq will raise its oil production capacity to 7 million bbl/d in the next five to six years, from around 5 million bbl/d now.

October 21, 2020

Crude Oil , Trade , International

Russia’s Energy Minister Says ‘Too Early’ to Discuss OPEC+ Plans Beyond 2020

A second government source said Russia, for now, would not disclose its plans on whether to continue with the current oil output cuts in order to prevent an overreaction in the market.

October 20, 2020

Crude Oil , Trade , International

Saudi Arabia Crude Oil Exports Rise for Second Consecutive Month

Additionally, Saudi Arabia's crude oil output rose by 500,000 bbl/d to 8.98 million bbl/d in August, official figures showed.

October 20, 2020

Crude Oil , Trade , International

OPEC Pledges Action to Support Oil Market as Demand Concerns Grow

OPEC and allied producers on Oct. 19 pledged action to support the oil market as concerns mounted that a second wave of the COVID-19 pandemic will hobble demand.

October 19, 2020

Petrochemicals , Crude Oil , Trade , International , Storage

What’s Affecting Oil Prices This Week? (Oct. 19, 2020)

Global oil participants saw contradicting messages last week from OPEC and Russia with regards to their approach for rebalancing markets, reminiscent of what happened in early March, Stratas Advisors says in its latest oil price forecast.

October 19, 2020

Crude Oil , Biofuels

Facing Wave of Closures, Oil Refiners Turn to Biofuels

Many producers believe global oil demand will never return to pre-crisis levels.

October 19, 2020

Crude Oil

Oil Slides on COVID-19 Resurgence, Strong Dollar

Pandemic spikes in the US and Europe are curtailing demand for crude.

October 16, 2020