Tag Archives: Oil

Two industry sources told Reuters that Russia may support keeping global oil production cuts unchanged after 2020 when it is time to ease them if global market conditions deteriorate due to slowing demand and increasing cases of coronavirus. Russian Energy Minister Alexander Novak said last week that OPEC + would …

There was little change in oil prices on Tuesday, to stabilize after suffering losses over three days due to fears that the increase in cases of Coronavirus globally would impede the recovery of demand for fuel while the increase in Libyan production leads to an abundance of supplies. Brent crude …

Oil, Crude, trading

Oil prices declined on Monday, despite the OPEC+ reiterating commitment for output cuts, amid concerns about the impact of the second wave of the Coronavirus pandemic on the global demand. Brent crude futures for December delivery closed lower by 31 cents, or 0.7%, at $42.62 per barrel. Meanwhile, the West …

Halliburton reported quarterly losses for the fourth consecutive quarter, amid disruptions caused by the COVID-19 crisis affecting the global demand for oil. Revenues decreased to $1.57 billion down by 55% from $3.51 billion for the same quarter last year. The oil giant posted a net loss of $17 million during …

Data from the Chinese Bureau of National Statistics showed today, Monday, that China’s crude oil production rose 2.4% year on year in September to 16.1 million tons, while natural gas production increased 7.6% from a year ago. Crude oil production grew 1.7% year on year in the first nine months …

Oil prices fell today, Monday, after the growth of the Chinese economy in the third quarter of the year was weaker than expected, highlighting concerns about the impact of the growing Coronavirus infections around the world on demand for the largest importer of crude in the world. The world’s second-largest …

Oil, Crude, trading

Oil prices declined on Friday, amid concerns about the second wave of the COVID-19 pandemic and its impact on the global demand for energy. However, losses were marginal due to support from the commitment expressed by the OPEC+ alliance to output curbs. Brent crude futures for December delivery plunged by …

Oil prices fell, as they were negatively affected by fears that a significant increase in the number of cases of Covid-19 in Europe and the United States was curbing demand in two of the largest fuel-consuming regions in the world, while the strength of the US dollar added more pressure …