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FP Trading Desk (Canada) 06/04/2020 04:44
MOSCOW — Russian Energy Minister Alexander Novak said on Thursday that the global oil market could face a shortage of 3-5 million barrels per day (bpd) in July, depending on a deal to be reached by OPEC+ producers, Interfax news agency reported. The OPEC+ group of oil producers agreed to cut production by almost 10 […]
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Al Arabiya English (Dubai) 06/04/2020 04:06
Russian Energy Minister Alexander Novak said on Thursday that the global oil market may see a shortage of 3-5 million barrels per day (bpd) in July, depending on the parameters of a deal to be reached by OPEC+ producers, Interfax news agency reported.
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Benzinga 06/03/2020 10:46
After months of fears and price slump, crude oil futures are rising and gaining ground. Worries that ...
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Platts 06/03/2020 10:10
The OPEC+ group of major producers led by Saudi Arabia and Russia has succeeded in...
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Oil & Gas 360 06/02/2020 16:00
OIl & Gas 360. Summary: Even before the additional shocks from COVID-19, the Wall Street funding that had supported the shale boom was dwindling and was pressuring commodity prices and well-level economics. Equity investors. …. .
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COVID-19's battering of the oil market is a "short-term" disruption that doesn't alter the need for Enbridge's Line 3 pipeline across northern Minnesota, the company told utility regulators in a filing Monday. Pipeline opponents last month called on regulators to…
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OilPrice.com 06/01/2020 19:30
U.S. President Donald Trump and Russian President Vladimir Putin discussed via phone the OPEC+ production cut agreements on Monday, according the Kremlin. The discussions included acknowledgement that the current OPEC+ production cuts, of which Russia is a part, would “lead to a gradual restoration of oil demand and price stabilization,” the Kremlin said. Further details of what was discussed with regards to the oil markets was not disclosed. Other topics of conversation between the two presidents were the launch of the…
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Russia Today (Russia) 06/01/2020 08:43
This year’s oil-market turmoil has cut deeply into the government revenue for the world’s largest oil exporter.
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Peak Oil News 05/30/2020 19:02
The oil market could stay in a state of contango for longer after supply and demand finally balance due to the vast amount of crude and products in storage, Reuters reported on Friday, citing analysts and investment banks ...
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Financial Post (Canada) 05/29/2020 08:35
LONDON — While vast cuts by producer countries and renewed fuel consumption from easing coronavirus lockdowns may soon rebalance oil supply and demand, some analysts and traders see a glut in storage keeping the market in contango for much longer. A contango market structure means the current value is lower than it will be in […]
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AllAfrica News (Africa) 05/29/2020 02:51
Abuja — Nigerian National Petroleum Corporation (NNPC) yesterday explained that it would not shut down production as a result of the glut in the international oil market due to the danger of losing market share when prices rebound.
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Reuters.com 05/28/2020 07:37
... Subsea 7 announced on Thursday that it will cut its global workforce by a quarter and reduce its fleet of specialized vessels by up to a third to preserve cash following the slump in the oil market.
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Big News Network (UAE) 05/27/2020 08:12
Demand rise, output cuts could mean oil market balance in June.
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Reuters.com 05/26/2020 22:05
Morgan Stanley sees tighter oil market, raises Brent forecast.
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