Oil prices rose on Wednesday after an industry report showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world.
Brent crude rose 33 cents, or 0.8%, to $41.60 a barrel after declining more...
As OPEC and its allies make their deepest cuts yet to crude production, Norway’s giant Johan Sverdrup oil field is exporting more than ever before.
Crude loadings from the field are set at a record 4.4 million barrels, or 465,000 barrels a day, in August, Bloomberg reported.
That’s compared...
India, the third-biggest oil consumer, expects fuel demand to return to normal earlier than projections by the International Energy Agency and OPEC.
“If you look at the trend of the past few weeks, I’m confident that by the end of second quarter, demand will be as usual,” India’s Oil Minister...
A second wave of Covid-19 infections in China’s capital is threatening to depress the nation’s appetite for American oil just after a pick-up in purchases.
Signs of weakening demand from the world’s largest oil consumer are now starting to weigh on export prices for American crude, according to...
Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading some countries to resume partial lockdowns that could hurt fuel demand.
Brent crude dropped 83 cents, or 2%, to $40.19 a barrel, while US crude was at $37.69, down 80...
The largest oil company in the United States is preparing to let go between 5% and 10% of its US-based employees subject to performance reviewed, anonymous sources told Bloomberg.
Exxon’s job cuts will be characterized as performance-based, and not considered layoffs, technically speaking....
European refiners are shunning Russia’s flagship crude grade Urals, which is now more expensive than Brent Crude after Russia cut its exports as part of the OPEC+ agreement, oil traders told Reuters on Friday.
Over the past few weeks, the price of Urals, a blend of heavy sour oil from the Urals...
Global nuclear generating capacity was 391.1 gigawatts as of December 31, 2019, with 443 operational reactors in 30 countries, a fall of 4.5 GW from 386.6 GW at the end of 2018, the International Atomic Energy Agency said in a statement Friday.
The data was compiled in the IAEA's annual nuclear...
Oil prices rose on Friday, extending gains on optimism about a recovery in fuel demand worldwide, despite a surge in coronavirus infections worldwide and signs of a revival in US crude production.
US West Texas Intermediate crude futures gained 25 cents, or 0.7%, to $38.97 but were on track for...
The US shale industry is about to enter a period of “great compression” as low oil prices hammer the sector, according to a Deloitte study released Wednesday.
The firm believes that exploration and production companies could write down the value of their assets by as much as $300 billion as they...