International

Saudi Arabia is set to hike its crude oil supply to a record high, flooding markets as it continues to escalate a trade war with Russia. The kingdom will up its supply to an unprecedented height of 12.3 million barrels per day in April, said Amin Nasser, CEO of Saudi …

International Energy Agency Executive Director Fatih Birol on Monday denounced oil producer countries he said were playing “Russian roulette” with markets, adding that an apparent price war was an attempt to “kill” the US shale sector, but was unlikely to succeed and could have “grave consequences” around the world, Platts …

The oil market turmoil dragged down Russia’s national currency, which fell sharply against the US dollar and the euro.

Saudi Arabia plans to increase its crude oil output next month to more than 10 million barrels a day in response to the collapse of its OPEC+ alliance with Russia, Bloomberg News reported on Saturday. Brent slid to its biggest daily loss in more than 11 years on Friday after …

Russia's oil output increase will now hinge on companies' plans.

The oil market now faces double jeopardy.

Oil extended its slide from the lowest close in more than two years as investors wait for a Russian response to OPEC’s plan for deeper and longer cuts to offset the demand destruction caused by the coronavirus. Brent closed below $50 for the first time since mid-2017 on Thursday after …

Two of Switzerland’s largest trade fairs fell victim to the coronavirus epidemic. with organizers of the Geneva International Motor Show and the Baselworld watch fair pulling the plug on this year’s salons as the outbreak spreads in Europe.

Saudi Arabia and some other countries are looking for a 1 million bpd output cut for Q2. 2020 amidst weakening global demand.

Crude oil imports into the world’s top oil importer and key growth driver would be weaker in March than in February.