Oil prices – Page 15 – THE OVAL CIRCLE

Crude prices soar on stronger demand as countries begin to ease coronavirus restrictions

Posted on May 19, 2020May 19, 2020By Editor

Oil prices jumped on Monday boosted by output cuts and signs of recovery in demand for fuel as global economies have started easing curbs that were imposed to contain the spread of coronavirus. … Read More >Crude prices soar on stronger demand as countries begin to ease coronavirus restrictions

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Norway dipping into its massive piggy bank to battle Covid-19 crisis

Posted on May 12, 2020May 12, 2020By Editor

Norway is set to withdraw $41 billion from its sovereign wealth fund to cushion the blow to the economy from the coronavirus crisis that has resulted in falling oil prices and the highest unemployment in the country in 75 years. … Read More >Norway dipping into its massive piggy bank to battle Covid-19 crisis

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Goldman Sachs: Oil demand could exceed supply by end-May

Posted on May 9, 2020May 9, 2020By Editor

Oil demand could rebound enough to exceed supply by the end of this month, Goldman’s head of commodities Jeffrey Currie told Barron’s Market Brief. … Read More >Goldman Sachs: Oil demand could exceed supply by end-May

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‘The cure for low oil prices is low prices,’ energy expert tells Boom Bust

Posted on April 28, 2020April 28, 2020By Editor

The Covid-19 outbreak has severely cut demand for crude and tumbled oil prices. As the crisis hits the US oil industry hard, with 40 percent of rigs going offline, Boom Bust investigates how the sector is coping. … Read More >‘The cure for low oil prices is low prices,’ energy expert tells Boom Bust

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The shale suffering has only just begun

Posted on April 26, 2020April 26, 2020By Editor

A few weeks before the summer driving season begins, US gasoline consumption has plummeted to levels last seen in the late 1960s, due to the lockdowns to contain the spreading of the coronavirus. … Read More >The shale suffering has only just begun

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Saudi Arabia to take on billions in debt to survive the oil price crisis

Posted on April 25, 2020April 25, 2020By Editor

Saudi Arabia may have to borrow as much as $58 billion this year to cover a budget shortfall caused by the oil price slump, Bloomberg reports, citing Finance Minister Mohammed al-Jadaan. … Read More >Saudi Arabia to take on billions in debt to survive the oil price crisis

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Trump: Live by the Oil, Die by the Oil

Posted on April 23, 2020April 23, 2020By Editor

From the very beginning I’ve been a staunch critic of President Trump’s “Energy Dominance” policy. And I was so for a myriad of reasons, but mostly because it was stupid. … Read More >Trump: Live by the Oil, Die by the Oil

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Russian Urals crude sinks below $12 amid epic oil market meltdown

Posted on April 22, 2020April 22, 2020By Editor

The unprecedented oil market crash this week has put Russian crude under pressure, with the Urals blend falling by almost $6 to trade below $12 per barrel, according to energy information provider Argus Media. … Read More >Russian Urals crude sinks below $12 amid epic oil market meltdown

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Crude price collapse will finally force US oil industry to cut production or go bust

Posted on April 22, 2020By Editor

The oil-price plunge could create a historic precedent in which the US may finally help boost the sinking energy market, albeit involuntarily, instead of benefiting at the expense of others, oil executive Mike Cantrell believes. … Read More >Crude price collapse will finally force US oil industry to cut production or go bust

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China doubles rate of crude stockpiling as oil falls below $0

Posted on April 21, 2020By Editor

China doubled the fill rate at its strategic and commercial inventories in Q1 2020, taking advantage of the low oil prices and somewhat supporting the oil market amid crashing demand. … Read More >China doubles rate of crude stockpiling as oil falls below $0

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