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OPEC+ plans to pump more crude into a precarious global oil market

LONDON (Bloomberg) - From quiet skies over Europe to sparse traffic in Americas biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus. That poses a particularly delicate challenge for the OPEC carte......【More】

2020-08-03

Oil prices stabilize as OPEC compliance eases U.S. demand fears

NEW YORK (Bloomberg) --Crude futures in New York rose in tandem with a broader recovery in equities markets, as initial signs that OPEC members intend to comply with promised oil-production cuts assuaged fears that a resurgence in coronavir......【More】

2020-07-15

Libyan oil uncertainty grows as crippling civil war drags on

CAIRO (Bloomberg) - The revival of Libyas oil industry looks even less certain following recent setbacks suffered by Khalifa Haftar, the commander trying to take over the last swaths of the country outside his control. Forces aligned with F......【More】

2020-05-22

Alaskan and Canadian oil finds new Chinese buyers as their economy restarts

CALGARY (Bloomberg) - Canadian and Alaskan crude that normally travels to the U.S. West Coast is finding a market in China, where demand is almost back to pre-pandemic levels. The Sofia became the second oil tanker in less than a month to s......【More】

2020-05-21

China paying a premium for select crudes illustrates demand’s return

(Bloomberg) --For a sneak peek at the return of Chinese oil demand, look no further than the rebound in price of the nations favorite grades. In the last few days a Chinese state-owned refiner bought Brazils Lula crude for August arrival at......【More】

2020-05-15

Undercutting rivals helps Saudis grow share in key oil markets

DUBAI (Bloomberg) --The uneasy truce that settled over oil markets this month as some of the worlds largest producers began cutting output belies the raging competition among exporters seeking to preserve their share of a diminished market.......【More】

2020-05-08

Continental Resources declares force majeure on some oil deliveries

WASHINGTON (Bloomberg) --Shale explorer Continental Resources Inc. told at least one refiner it couldnt make an oil delivery after the global pandemic sent prices plunging, a move refiners called the height of hypocrisy following billionair......【More】

2020-04-26

Oil rout looks to break shale’s global oil dominance

HOUSTON (Bloomberg) --A historic crash in crude prices is driving U.S. shale into full-on retreat with operators halting new drilling and shutting in old wells, moves that could cut output by 20% for the worlds biggest producer of oil. For......【More】

2020-04-23

Oil price collapse spreading as June WTI futures drop 24%, Brent falls

LONDON (Bloomberg) --The meltdown in oil markets widened, with huge losses spreading beyond contracts affected by technical anomalies as the world runs out of places to store unwanted crude. West Texas Intermediate crude for May delivery pl......【More】

2020-04-22

Chinese imports of U.S. oil to pick up following Trump’s trade deal

NEW YORK (Bloomberg) - American crude oil shipments to China are poised to pick up again after the two economic superpowers signed a landmark trade deal. Under the terms of the agreement, U.S. energy exports to China will jump over the next......【More】

2020-01-16