International

Crude Oil , Trade , International

Oil Prices Rally on Acceleration of Production Cuts from OPEC Nations

Oil prices soared on April 23, extending its rebound after major oil-producing nations said they would accelerate planned production cuts to combat the dramatic slump in demand.

April 23, 2020

Crude Oil , International , Storage

Australia to Spend $60 Million Buying Oil to Store in US Reserve

10-year deal will allow Australia to stockpile crude and eventually increase storage in the country.

April 22, 2020

Exploration & Production , International

US Orders Chevron to ‘Wind Down’ Venezuela Operations by Dec. 1

The company has been in Venezuela for a century and was the only US major still operating there.

April 22, 2020

Crude Oil , Trade , International

Diplomat: US Could Still Wield Oil Import Tariffs if OPEC+ Producers Break Deal

While it remains an option, administration says it doesn’t believe it will be necessary.

April 16, 2020

Trade , International

Saudi Energy Minister Says Effective Global Oil Cuts Above 19 MMbbl/d

Official adds in pledges by G-20 and purchases into crude reserves.

April 14, 2020

International

Mexico-Trump Oil Deal Raises Question: At What Cost?

Easing of Mexican crude output reduction puts country in US debt.

April 14, 2020

Crude Oil , Trade , International

Saudi Arabia Cuts Oil Prices to Asia, Raises US

Saudi Arabia's cut in prices to Asia reflect weak demand, while pricing to Europe and the U.S. reflect oil market fundamentals and the global supply cut pact, an industry source told Reuters.

April 13, 2020

Crude Oil , Trade , International

Oil Prices Erase Early Gains on Record OPEC+ Output Cut

After four days of wrangling, OPEC, Russia and other oil-producing nations agreed to cut output by a record amount of 9.7 million bbl/d, representing around 10% of global supply.

April 13, 2020

Crude Oil , Trade , International , Shale Plays

OPEC, Russia Reach Deal to Cut Oil Production

Oil prices fall as traders fear reductions agreed to by OPEC and Russia will fail to offset biggest demand collapse in history.

April 9, 2020

Trade , International

Oil State Senators to Talk with Saudi Officials

Lawmakers’ bill would remove US defense systems and troops from Saudi Arabia.

April 8, 2020