Oil extends losses on supply overhang, weak outlook
TOKYO (Reuters) – Oil prices extended losses on Thursday as the industry grappled with the growing global surplus of crude and the sharp coronavirus-Read More…
Category: Oil
Trump told Saudis: Cut oil supply or lose U.S. military support
Trump delivered the message to the crown prince 10 days before the announcement of production cuts.The effort illustrated Trump’s strong desire to prRead More…
Oil rebounds above $14 a barrel after massive sell-off
(Web Desk) Oil prices rebounded above $14 a barrel Wednesday, a day after a sell-off sparked by a major fund selling its short-term holdings of Read More…
When oil became waste: a week of turmoil for crude, and more pain to come.
(Reuters) – The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures CLc1, whRead More…
Oil: Lower For Longer Is The New Normal Amid A Slumping Global Economy
(Forbes.com) Oil prices managed to recover some ground over the past few trading sessions, but they’re still well below where they started the Read More…
What does the crash of oil prices mean for Pakistan
Crash in oil prices is an opportunity for countries like Pakistan because even after passing 50% of the decline on to consumers, the government couldRead More…
Oil languishes at multi-year lows amid coronavirus pandemic
(AFP) SINGAPORE: Oil languished at a multi-year low on Thursday, with WTI crude remaining around $20 a barrel as dire warnings about a virus-triggRead More…
Nigeria joins OPEC to cut crude oil production
The Federal Government on Friday said crude oil price would rebound by at least $15 per barrel in the short term following the latest intervention ofRead More…
Oil prices fall as Saudi, Russia decide to cut ouput under US pressure
(Reuters) DUBAI/MOSCOW/LONDON: OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said theyRead More…