Tag Archives: Bloomberg News Agency

With oil plummeting near an 18-year low amid unprecedented supply and demand shocks, Russia finally admitted: crude is too cheap. “Of course it’s a low price, we would like to see it higher,” Kremlin spokesman Dmitry Peskov said on a conference call, signaling for the first time that the country’s …

With oil plummeting near an 18-year low amid unprecedented supply and demand shocks, Russia finally admitted: crude is too cheap. “Of course it’s a low price, we would like to see it higher,” Kremlin spokesman Dmitry Peskov said on a conference call, signaling for the first time that the country’s …

How long can the vicious oil-price war between Saudi Arabia and Russia last? If history is any guide, the battle will be a long one. Riyadh has waged four price wars, including the current one, over the last 35 years. All of them lasted at least a year, and prices …

Governments across Europe should keep clean energy top of mind as they consider measures to protect their economies against a likely recession caused by the coronavirus, the International Energy Agency (IEA) has said. The European Commission is paying close attention to the economic impact of the coronavirus, saying border shutdowns …

Russia, the world’s largest energy exporter, said the current oil-price slump was expected and it doesn’t plan talks with Saudi Arabia for the time being. The decision to keep the Saudis at arm’s length comes as oil tumbles to a four-year low, continuing its slide after the collapse of OPEC+ …

Russia, the world’s largest energy exporter, said the current oil-price slump was expected and it doesn’t plan talks with Saudi Arabia for the time being. The decision to keep the Saudis at arm’s length comes as oil tumbles to a four-year low, continuing its slide after the collapse of OPEC+ …

After a dizzying drop in demand and an about-face in Saudi Arabian production policy, global oil markets face the possibility of the biggest crude surplus ever recorded, according to IHS Markit.Should the price war between the kingdom and Russia persist and the world tip into recession due to the coronavirus, …

The impact of coronavirus on global renewables markets could make 2020 the first “down year” for solar power capacity addition since the 1980s. This according to BloombergNEF, which has revised down its February global solar photovoltaic demand outlook for the year from between 121 gigawatts (GW) and 152GW to between …

Saudi Arabia is unleashing a wave of crude toward Europe, traditionally the backyard for Russian oil sales, pledging to supply regional refineries with as much as triple their usual intake from the kingdom. The Saudi shipments, coupled with unprecedented discounts, are turning the European oil market into the most bitterly …

Saudi Arabia ordered state-run oil producer Aramco to boost the kingdom’s output capacity by 1 million barrels a day, the latest escalation in a battle for control of the global petroleum market.