Oil prices – Page 14 – THE OVAL CIRCLE

Exxon eyes global job cuts to keep afloat after oil price collapse

Posted on September 3, 2020September 3, 2020By Editor

US oil major Exxon Mobil signaled it may downsize its staff worldwide after offering voluntary redundancies among its Australian workforce to mitigate the aftermath of the coronavirus crisis. … Read More >Exxon eyes global job cuts to keep afloat after oil price collapse

3 reasons why oil prices won’t rally anytime soon

Posted on August 25, 2020August 25, 2020By Editor

It’s a worrying time for oil markets as bullish news fails to drive oil prices higher and a wave of negative developments look set to hit the industry in the coming weeks. … Read More >3 reasons why oil prices won’t rally anytime soon

Kuwait is running out of money to pay public salaries

Posted on August 24, 2020August 24, 2020By Editor

Kuwait is running out of money for the salaries of public servants and will have no money to cover these after November, the country’s finance minister told parliament. … Read More >Kuwait is running out of money to pay public salaries

Saudi Aramco profits crash 73% as coronavirus sinks oil market

Posted on August 10, 2020August 10, 2020By Editor

The world’s biggest oil exporter, Saudi Aramco, has reported massive losses for the second quarter, with its net profit nosediving 73.4 percent, as the Covid-19 outbreak crippled global demand for crude. … Read More >Saudi Aramco profits crash 73% as coronavirus sinks oil market

Will America’s pipeline operators survive the oil crisis?

Posted on June 17, 2020June 17, 2020By Editor

US midstream companies have seen pipeline utilizations rates crash in recent months, but some of these firms can’t wait for better times and are forced to diversify away from oil. … Read More >Will America’s pipeline operators survive the oil crisis?

Oil climbs to three-month highs as Russia & Saudi Arabia lead major producers to extend output cuts

Posted on June 9, 2020June 9, 2020By Editor

International benchmark Brent broke past $43 per barrel for the first time since early March on Monday after major crude exporters decided to keep record production curbs in place until the end of July. … Read More >Oil climbs to three-month highs as Russia & Saudi Arabia lead major producers to extend output cuts

Russia reduces oil production in May close to OPEC+ target

Posted on June 3, 2020June 3, 2020By Editor

Oil and gas condensate production in Russia declined by 15 percent year-on-year in May to 39.7 million tons or 9.39 million barrels per day (bpd), according to Energy Ministry data. … Read More >Russia reduces oil production in May close to OPEC+ target

Saudi reserves plunge as kingdom struggles with Covid-19 pandemic & oil-market rout

Posted on June 3, 2020June 3, 2020By Editor

Saudi Arabia’s foreign reserves fell sharply in April, after it transferred 150 billion riyals ($40 billion) to the sovereign-wealth fund to provide investment opportunities amid the pandemic-triggered financial fallout. … Read More >Saudi reserves plunge as kingdom struggles with Covid-19 pandemic & oil-market rout

‘This is War’: Maduro Vows to Raise Fuel Prices as Iranian Tankers Reach Sanction-Hit Venezuela

Posted on May 31, 2020May 31, 2020By Editor

On Thursday, Nicolas Maduro said that the Venezuelan government plans to review prices for imported gasoline on the domestic market amid the shutdown of many of the national oil and gas company Petroleos de Venezuela (PDVSA)’s refineries. … Read More >‘This is War’: Maduro Vows to Raise Fuel Prices as Iranian Tankers Reach Sanction-Hit Venezuela

Fracking ‘complete sham’ holding back US economy, energy market expert tells Keiser Report

Posted on May 22, 2020May 22, 2020By Editor

The fracking industry relies on negative interest rates to convince investors that they will lose money slower than just holding cash, says Max Keiser of RT’s Keiser Report. … Read More >Fracking ‘complete sham’ holding back US economy, energy market expert tells Keiser Report