oil

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Iraq's semi-autonomous Kurdish region has agreed on a mechanism to reduce oil output to help the country meet its quota under the new Opec+ agreement, Iraq's oil minister Thamir Ghadhban said.
News ID: 9194    Publish Date : 2020/04/20

Oil fell below $19 per barrel in New York after a wave of gloomy demand forecasts and a cratering physical market outweighed an unprecedented deal to cut output.
News ID: 9187    Publish Date : 2020/04/18

The US is rethinking the premise behind its earlier decision to allow Chevron and other US and international firms to continue their presence in Venezuela, as it steps up the pressure of sanctions designed to force Venezuelan president Nicolas Maduro to step down.
News ID: 9179    Publish Date : 2020/04/16

Opec said today that it expects an "historic decline" in 2020 global oil demand to reflect the effect of the Covid-19 pandemic on consumption. It marks a drastic revision from its previous demand projection.
News ID: 9170    Publish Date : 2020/04/16

Global oil demand will fall this month to a level last seen in 1995, the IEA said today. But it did not give any clear indication that a week of diplomacy by its executive director Fatih Birol has achieved any concrete pledges of extra production reductions or purchases for strategic storage.
News ID: 9158    Publish Date : 2020/04/15

Oil prices rose on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it will not be enough to head off oversupply with the coronavirus pandemic hammering demand.
News ID: 9149    Publish Date : 2020/04/13

With the coronavirus choking fuel demand and the world awash in surplus crude, even the Middle East’s main oil -trading hub has run out of room to store unwanted barrels.
News ID: 9148    Publish Date : 2020/04/13

A historic production cut agreement between OPEC and its allies, known as OPEC+, hit a roadblock after Mexico refused to agree to its share of the cuts after a marathon meeting between the oil -producing nations that lasted more than nine hours.
News ID: 9104    Publish Date : 2020/04/10

Iranian Oil Minister Bijan Namdar Zanganeh said he has held consultations with several foreign officials about plans to restore stability to the global oil market ahead of a meeting between OPEC and its allies.
News ID: 9086    Publish Date : 2020/04/08

Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the historic price crash as diplomats said some progress was made on Sunday.
News ID: 9082    Publish Date : 2020/04/07

Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help alleviate global oversupply as the coronavirus pandemic pummels demand.
News ID: 9064    Publish Date : 2020/04/06

Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help alleviate global oversupply as the coronavirus pandemic pummels demand.
News ID: 9063    Publish Date : 2020/04/07

India's demand in March for diesel fell by around 26pc, gasoline dropped by 18pc and jet fuel was down by 32pc from a year earlier, according to industry data from state-controlled companies but excluding private-sector refiners. Anecdotal data from retail outlets shows demand for transport fuel has fallen by 70pc since a 21-day nationwide lockdown from 25 March was brought in to combat the country's coronavirus outbreak.
News ID: 9059    Publish Date : 2020/04/07

Algeria's oil minister has called on producing nations to "seize the opportunity" offered by this week's proposed meeting to bring stability to oil markets.
News ID: 9045    Publish Date : 2020/04/06

President Vladimir Putin’s government is rewriting its budget to prepare for oil prices at $20 a barrel this year despite US-led efforts to get major producers to rein in production.
News ID: 9039    Publish Date : 2020/04/04

Brazil's state-controlled Petrobras has doubled production cuts to 200,000 b/d in response to the oil price collapse.
News ID: 9004    Publish Date : 2020/04/01

The US government would suspend oil sanctions on Venezuela in the early stages of a political transition plan that was to be laid out by senior US officials this morning.
News ID: 8983    Publish Date : 2020/03/31

Western Australia (WA) has stopped all fly-in, fly-out (FIFO) workers to its resources projects from New South Wales (NSW) that has the highest number of coronavirus infections in the country.
News ID: 8972    Publish Date : 2020/03/30

These days, the oil market is facing an unprecedented crisis; on one hand the demand for oil has fallen drastically due to the slowdown in the global economy following the coronavirus outbreak and on the other hand the start of a price war between Saudi Arabia and Russia hit the market so hard that oil crashed to a level not seen in 29 years.
News ID: 8931    Publish Date : 2020/03/22

South Korean petrochemical producer SKGC is planning to idle its small cracker in Ulsan from December this year after the plant struggled to stay competitive.
News ID: 8874    Publish Date : 2020/03/26

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