OIL & FUEL SECTOR NEWS HABERLERİ

Oil prices are down nearly 50% for the year after OPEC+ talks collapsed and Saudi Arabia announced slashed prices in an apparent price war with Russia. Oil prices fell through the floor in early trading Monday, tanking as much as 30% after Saudi Arabia... 

The International Energy Agency plans to revise down its oil-demand forecasts next week because of the spreading coronavirus. “I am going to announce it Monday morning in Paris,” IEA chief Fatih Birol told a Congressional hearing in Washington on... 

Oil prices fell through the floor in early trading Monday, tanking as much as 30% after Saudi Arabia slashed its crude prices for buyers. The kingdom is reportedly preparing to open the taps in an apparent retaliation for Russia’s unwillingness to... 

Oil prices slumped for a sixth day in a row on Friday to their lowest in more than a year, causing futures to drop by the most in a week since 2016, as the spread of coronavirus stoked fears that a slowing global economy would hit energy demand. The coronavirus... 

Oil demand is set to fall this quarter for the first time since the financial crisis in 2009 due to the coronavirus outbreak in China, the International Energy Agency (IEA) said on Thursday. “The consequences of Covid-19 for global oil demand will be... 

China is now fully part of the global energy trading system, regularly importing more than 9m barrels a day of oil and a rapidly growing amount of natural gas. But Beijing faces an American assertion of power that threatens to disrupt the current pattern... 

Oil plunged Thursday, with U.S. crude dropping almost 3 percent as the market grappled with oversupply fears as increased U.S. sanctions on Iran had more gradual impact than expected and U.S. crude oil inventories rose sharply. U.S. crude settled down... 

Brent crude prices topped $70 a barrel for the first time in nearly five months on Thursday as tightening supply continues to offset concerns about slowing global demand and rising US shale production. The international oil benchmark rose as much as 1... 

Oil and gas companies are facing competition from renewable energy and electric vehicles, a global campaign against the use of plastics and increasingly stringent climate targets. In the face of these challenges, shareholders want them to prioritize returns... 

For the global energy industry, China’s importance is hard to overstate. It is the world’s largest oil importer and is on course to be the largest gas importer this year. It accounts for about half the world’s coal consumption and almost a third... 

That we are on the path to a low-carbon future is beyond doubt. Despite disagreements among stakeholders and how we might get there, and the pace of change required there seems to be a broad unity in the long-term vision. We know we need an energy portfolio... 

The transition to a lower carbon economy has been long promised but the reality remains elusive. There is no doubt that the costs of renewables — led by solar and onshore wind — are now materially cheaper than they ever have been, having fallen respectively...