OIL & FUEL SECTOR NEWS HABERLERİ

Demand growth for refined oil products will never return to the levels it reached before the coronavirus outbreak, Citigroup said. As the global economy restarts, fewer people will fly and use their cars, analysts including Ed Morse wrote. With meetings... 

Russia and Saudi Arabia both rely on oil sales to fund a majority of their budgets. In the last five plus years, China has become the biggest customer for both countries. In fact, China is the world’s largest importer of oil, though it could cut... 

On May 12, the Energy Information Administration (EIA) released its latest Short Term Energy Outlook (STEO). This report reflects the first deep dive into how the energy demand collapse brought on by the COVID-19 pandemic is impacting energy market... 

It’s becoming evident the COVID-19 will disrupt the lives of the world’s 7.8 billion human inhabitants for much longer than we could have imagined. Already, millions are infected and hundreds of thousands dead, while the global economy could contract... 

Global oil supplies may be 6% less than expected by 2030 because of delays to investments by energy companies in response to falling crude prices due to the coronavirus crisis, data from energy analysts at Rystad showed. Oil and gas companies across the... 

OPEC and its oil producing allies on Sunday finalized a historic agreement to cut production by 9.7 million barrels per day, following days of discussions among the world’s largest energy producers. It’s the single largest output cut in history. West... 

Whole cities, towns, regions and countries are in lockdown owing to the coronavirus or Covid-19 global pandemic with shutdowns stretching from the Philippines to Canada and much else in between. Earlier this week, India – the world’s second-most... 

Oil and gas markets are ensnared by oversupply and falling prices, not to mention a global pandemic. It illustrates the need to be more responsive to changes in the energy climate. And the good news is that the signs are pointing to more investment in... 

The ongoing slide in global oil prices – catalyzed by the novel Coronavirus and fueled by structural issues including excess supply from oil giants like the U.S., Russia and Saudi Arabia, and slowing demand growth – is creating a new imperative... 

Saudi Arabia abruptly altered its oil production strategy in early March and began to flood the market with cheap oil. Financial markets worldwide hemorrhaged value at the prospect of a protracted and painful price war, and American oil firms immediately cut... 

The current crisis facing the oil industry happened seemingly overnight, the result of a two-pronged situation: the economic slowdown caused by the global COVID-19 pandemic and the predatory attempt by Saudi Arabia and Russia to eliminate competition... 

Oil prices on Friday posted their biggest week of losses since the 2008 global financial crisis, rocked by the coronavirus outbreak and efforts by top exporter Saudi Arabia and its allies to flood the market with record levels of supply. The rare combination...