Crude Oil , Trade , International , Storage

Oil Prices Slump as Coronavirus-related Demand Concerns Resurface

In Houston, Lina Hidalgo, senior official for the county that includes the city at the heart of the U.S. oil industry, said "we may be approaching the precipice of a disaster."

June 11, 2020

Crude Oil , Trade , International

Saudi Arabia to End Voluntary Cuts on Top of OPEC+ Pact

Saudi Energy Minister Prince Abdulaziz bin Salman said that this would not continue in July, when Saudi Arabia will pump its OPEC quota, amid signs of demand recovery.

June 8, 2020

Crude Oil , Trade , International

Analysts: Oil Price Rally to Continue as OPEC+ Extends Output Cuts

Following the deal, oil prices will continue rallying throughout the month of June, averaging at around $43/bbl for Brent and $30/bbl for WTI, analyst says.

June 7, 2020

Crude Oil , Trade , International

Chevron Oil Cargo Tangled in US Sanctions on Venezuela

A Chevron Corp. crude oil cargo has become embroiled in U.S. sanctions on shipping companies for violating restrictions on doing business with Venezuela, the company confirmed.

June 5, 2020

Legislation , International , Infrastructure , Pipelines

US Senators Move to Tighten Sanctions on Delayed Russia-to-Germany Gas Pipeline

U.S. senators revealed a bill on June 4 expanding sanctions on Russia’s Nord Stream 2 natural gas pipeline and targeting the project Washington says will boost Moscow’s economic and political influence in Germany and other European countries.

June 5, 2020

Public Capital , Investment , International , Health, Safety & Environment

Study: ‘Terminal Decline’ of Fossil Fuel Industry Risks New Financial Crisis

Whether and how fossil fuel demand may rebound after the pandemic is hotly contested, with many projections assuming that demand for oil, in particular, could steadily return as lockdowns lift.

June 4, 2020

Crude Oil , Trade , International

Saudi, Russia Reach Deal on Oil Cuts

Preliminary pact raises pressure on other OPEC+ members to comply.

June 3, 2020

Crude Oil , Trade , International

Venezuela’s Oil Exports Sink to 17-year Low, Choked by US Sanctions

Venezuela's oil exports plummeted in May to their lowest level since 2003 as U.S. sanctions choked exports, according to data and internal shipping documents.

June 2, 2020

Crude Oil , International

Kremlin: Putin, Trump Discussed G-7, Oil Markets in Call

Leaders talked about OPEC+ actions on production cuts.

June 2, 2020

International , Infrastructure , Construction , Pipelines

Senators Expected to Introduce Sanctions on Russia’s Nord Stream 2

Measure by Cruz and Shaheen could be proposed by June 1.

June 1, 2020