Oil prices – Page 16 – THE OVAL CIRCLE

US crude prices suffer WORST COLLAPSE EVER with storage facilities running out of space

Posted on April 20, 2020April 20, 2020By Editor

US oil prices crashed below $0 on Monday as the coronavirus pandemic cripples global energy demand, sparking concerns that storage facilities will soon be full. … Read More >US crude prices suffer WORST COLLAPSE EVER with storage facilities running out of space

Business

The oil industry’s recovery lacks one important ingredient

Posted on April 19, 2020April 19, 2020By Editor

The growing global oil and gas glut, partly caused by the coronavirus global lockdown but also due to mismanagement of the US shale sector and the OPEC+ price war fall-out, is causing mayhem in all energy sectors. … Read More >The oil industry’s recovery lacks one important ingredient

Business

Coronavirus has wiped out a decade of oil demand growth

Posted on April 17, 2020April 17, 2020By Editor

Days after OPEC and its partners inked the largest oil production cut in history, oil prices fell back below $20 per barrel as global demand destruction took center stage. … Read More >Coronavirus has wiped out a decade of oil demand growth

Russia

Covid-19 quarantine could cost Russia $242 BILLION as oil price fall starts to hit budget income

Posted on April 17, 2020June 15, 2020By Editor

There are storms, and there are ‘perfect storms.’ Just days after negotiations between Russia, the US and Saudi Arabia led to a deal on crude output, there are clear signs of more turbulent seas ahead. … Read More >Covid-19 quarantine could cost Russia $242 BILLION as oil price fall starts to hit budget income

Russia

New OPEC+ compromise a positive development that will prevent market chaos – Kremlin

Posted on April 10, 2020April 10, 2020By Editor

The deal reached by oil-producing nations to cut production will save the global economy from descending into chaos, a spokesman for the Kremlin said. … Read More >New OPEC+ compromise a positive development that will prevent market chaos – Kremlin

Business

Oil prices surge amid report Russia, OPEC & allied producers agree historic output cuts

Posted on April 9, 2020April 9, 2020By Editor

Crude prices jumped 12 percent on Thursday after the Organization of the Petroleum Exporting Countries (OPEC) and major producers led by Russia agreed to cut output by 20 million barrels a day, according to Reuters sources. … Read More >Oil prices surge amid report Russia, OPEC & allied producers agree historic output cuts

Business

Tariffs ALWAYS an option! Trump hopes Russia & Saudis reach oil deal ‘fair’ for US as Putin seeks cooperation from ALL sides

Posted on April 5, 2020April 5, 2020By Editor

US President Donald Trump hinted at the possibility of imposing tariffs on oil imports, due to a ‘massive excess’ supply on the global market created by the Saudi-Russian price war and exacerbated by the Covid-19 pandemic. … Read More >Tariffs ALWAYS an option! Trump hopes Russia & Saudis reach oil deal ‘fair’ for US as Putin seeks cooperation from ALL sides

Business

Saudi Arabia denies trying to kill US shale, shifts blame for oil supply glut on Russia

Posted on April 5, 2020April 5, 2020By Editor

Having boosted its oil output to historic records, Saudi Arabia denied that it seeks to “get rid of” US shale oil producers, after Russian President Vladimir Putin accused Riyadh of aggressively targeting competitors. … Read More >Saudi Arabia denies trying to kill US shale, shifts blame for oil supply glut on Russia

Business

US drillers face doomsday scenario as some crude blends hit $1

Posted on April 1, 2020April 1, 2020By Editor

Single-digit oil prices and unprecedented demand destruction are leading to production shut-ins all over the planet, but US shale and Canadian crude are the most affected. … Read More >US drillers face doomsday scenario as some crude blends hit $1

Business

Oil recovers from decades’ lows as Russia & US agree energy talks

Posted on March 31, 2020March 31, 2020By Editor

The price of crude rebounded on Tuesday from an 18-year low after Russian President Vladimir Putin and his US counterpart Donald Trump have agreed talks to stabilize energy markets. … Read More >Oil recovers from decades’ lows as Russia & US agree energy talks

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