Crude prices in America’s oil capital are getting dangerously close to zero. Buyers bidding for crude in Texas, the birthplace of the shale revolution, are offering as little as $2 a barrel for some oil streams, a precipitous markdown from a month ago.
News ID: 9206 Publish Date : 2020/04/20
Malaysia's Felda Sahabat palm oil plantation complex in Sabah state's Lahad Datu district has been ordered to close temporarily because of violations of Covid-19 movement control orders.
News ID: 9200 Publish Date : 2020/04/20
Singapore oil trading firm Hin Leong and its Ocean Tankers (OTC) arm have applied to the Singapore courts for protection against creditors.
News ID: 9199 Publish Date : 2020/04/20
Indonesia's state-owned Pertamina will cut runs rates at some domestic refineries while other refineries will undergo maintenance in stages, following an unprecedented slump in the country's demand for refined oil products from the Covid-19 pandemic.
News ID: 9198 Publish Date : 2020/04/20
Indian state-controlled refiners have seen a 50pc decline in fuel demand in April after the government extended a nationwide lockdown to fight the Covid-19 outbreak.
News ID: 9197 Publish Date : 2020/04/20
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
A Saudi Arabian oil official on Saturday refuted the conclusion of an analytics firm that the country’s oil exports to the US dramatically increased in the last month.
News ID: 9186 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
Vietnam's oil product imports in March were at the lowest monthly levels since January 2017 as the Covid-19 pandemic continues to hit demand.
News ID: 9175 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
Kuwait's demand for jet fuel, including kerosine, and for gasoline plunged by 70pc and 55pc respectively in the past eight weeks, according to state-owned refiner KNPC, during which time the government has imposed stringent measures to contain the spread of the Covid-19 pandemic.
News ID: 9169 Publish Date : 2020/04/16
BP said it will provide access to its supercomputer centre in Houston and allow its scientists and experts, to help work aimed at halting the spread of Covid-19.
News ID: 9168 Publish Date : 2020/04/16
Oil prices rose more than 1% on Tuesday after the main US energy forecasting agency predicted shale output in the world’s biggest crude producer would fall by the most on record in April, adding to cuts from other major producers.
News ID: 9163 Publish Date : 2020/04/14
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
Strong US west coast exports of discounted refined oil products have boosted clean tanker rates to two-month highs.
News ID: 9156 Publish Date : 2020/04/15
The IEA said today that global refining throughput will fall by 7.6mn b/d year-on-year in 2020, to its lowest in a decade at 74.3mn b/d, and said that product stockbuilds are inevitable.
News ID: 9152 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
New Zealand downstream firm Z Energy reported an 83pc slide in jet fuel sales to 2.41mn litres (15,100 bl) in the week to 5 April compared with an average of 89,000 bl/week in the four weeks to 22 March, before the country imposed travel restrictions to combat the Covid-19 pandemic.
News ID: 9145 Publish Date : 2020/04/14
