Tag Archives: Bloomberg News Agency

The U.S. cut its oil output forecast by more than one million barrels a day, days before OPEC and other producers meet to discuss a global deal to stem an unprecedented collapse in prices. Production will average 11.76 million barrels a day in 2020, down from an expected 12.99 million, …

State-owned China Three Gorges Renewables Group Co. is seeking to raise 25 billion yuan ($3.5 billion) in what could be one of the country’s biggest initial public offerings this year. The company plans to sell as many as 8.57 billion shares in Shanghai, according to a prospectus posted on the …

Norway, the biggest oil producer in western Europe, said it would consider joining a broad international agreement to cut production. The Nordic nation, whose oil output is set to grow over the next few years, hasn’t been a part of coordinated international cuts to support prices since 2002. OPEC and …

The unprecedented collapse in global oil markets brought another driller to its knees, forcing a champion of what was once the premier U.S. shale field to seek protection from creditors.

Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes.

The U.S. Energy Department is considering renting space in the nation’s emergency oil reserve to domestic producers awash in crude, according to three people familiar with the matter who asked not to be identified before a formal announcement.

Saudi Arabia showed no sign of bowing to pressure from President Donald Trump to dial back the oil-price war with Russia as the kingdom pushed crude supply to record levels.

President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of staunching an historic plunge in oil prices.

China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter. The world’s biggest importer is taking advantage of a 60 per cent plunge this year to snatch up cheaper barrels for its stockpiles, …

Traders and refiners expect Saudi Aramco to cut pricing for its flagship crude to the lowest in at least two decades, escalating a price war with rival suppliers even as the coronavirus throttles global demand. The world’s biggest oil exporter is expected to slash its official pricing for May sales …