Trade

Crude Oil , Trade , International

Oil Prices Soar 8% on Promising COVID-19 Vaccine Results

Oil prices surged about 8% on Nov. 9, its biggest daily gain in more five months, after Pfizer announced promising results for its COVID-19 vaccine.

November 9, 2020

Petrochemicals , Crude Oil , Trade , International

What’s Affecting Oil Prices This Week? (Nov. 9, 2020)

An extra bucket of cold water—the Convent refinery shutdown in Louisiana by Shell is more meaningful than it seems, Stratas Advisors says in its latest oil price forecast.

November 9, 2020

Crude Oil , Trade , International

Oil Prices Rise with Brent Topping $40 as Joe Biden’s Win Buoys Risk-taking

"Oil prices surged on Monday benefiting from a risk-on stance and a weaker U.S. dollar driven by Joe Biden becoming president-elect," said Giovanni Staunovo, oil analyst for UBS.

November 9, 2020

Petrochemicals , Trade

Shell to Shut Down Louisiana Refinery amid Coronavirus Pandemic

Shell said on Nov. 5 it will shut down its refinery in Convent, La., the largest U.S. facility to close since the coronavirus pandemic first hit and devastated economic demand worldwide.

November 5, 2020

Crude Oil , Trade , International

Saudi Arabia Cuts December Crude Prices to Asia

Saudi Aramco was expected to maintain or slightly cut its December official selling prices for Asian buyers, according to a Reuters survey.

November 5, 2020

Crude Oil , Trade , International

Venezuela’s Oil Exports Fall to New Low in October

Venezuela's oil exports fell to a historic low of 359,000 bbl/d in October as most of state-run PDVSA's long-term clients paused trade to meet a U.S. deadline to halt business with the firm.

November 3, 2020

Crude Oil , Trade , International

Report: Russian Oil Bosses Debate Extending Production Cuts into 2021

OPEC and Russia imposed a record oil output cut in April to support prices as the COVID-19 pandemic shrank demand. They are considering further steps as the global number of coronavirus cases is rising sharply.

November 2, 2020

Liquefied Natural Gas (LNG) , Trade , International , Construction

US Senator Warns France’s Macron over LNG Export Deal Delay

Reuters and other outlets reported last month that the French government asked power group Engie to delay signing a 20-year $7 billion U.S. LNG import contract on concerns about U.S. environmental rollbacks.

November 2, 2020

Petrochemicals , Crude Oil , Trade , International

What’s Affecting Oil Prices This Week? (Nov. 2, 2020)

A vote of confidence—three different oil markets are behind crude price volatility, Stratas Advisors says in its latest oil price forecast.

November 2, 2020

Exploration & Production , Crude Oil , Trade

US Energy Secretary: Oil Production Will Not Return Soon to Pre-pandemic Levels

U.S. oil output reached around 13 million barrels per day (MMbbl/d) in February before the coronavirus pandemic hit fuel demand.

October 28, 2020