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.
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.
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.
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.
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.
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.
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.
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.
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.
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.