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

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

Imports , Tankers , Storage

COLUMN: US Crude Stocks Swell as Saudi Tankers Unload

If the increase is a one-off, it won’t affect a market that is quickly rebalancing.

May 29, 2020

Crude Oil , Trade , International

Kremlin: Putin, Saudi Crown Prince Agree Further Coordination on Oil Output Cuts

Online OPEC+ conference will discuss production reduction in mid-June.

May 28, 2020

Crude Oil , Trade , International

First US Crude Oil Shipment Heads to Belarus, Pompeo Says

The first shipment of U.S. crude oil is heading to Belarus this week, fulfilling a commitment made in February, U.S. Secretary of State Mike Pompeo said.

May 15, 2020

Crude Oil , Trade , International , Technology

PATH FORWARD: Dr. Yousef Alshammari Sees International Opportunities for US Service Companies

Dr. Yousef Alshammari, CEO and head of Oil Research at CMarkits, doesn't expect OPEC to scale back or deepen cuts at the group’s June meeting. 

May 14, 2020