Tag Archives: Bloomberg News Agency

Abu Dhabi National Oil Co. will boost crude supply to more than 4 million barrels a day next month as the United Arab Emirates joins a battle for market share triggered by Saudi Arabia and Russia.

Oil’s historic price crash is prompting the Chinese government to consider buying more crude for state reserves, say people with knowledge of the matter. Top planning officials are consulting with Chinese government agencies and state-owned energy companies about the possibility of bolstering the nation’s strategic stockpiles with cheap oil, the …

President Donald Trump and his economic team will weigh measures later Monday to contain the fallout from coronavirus and a sudden crash in oil prices, with funding for a temporary expansion of paid sick leave and aid for battered U.S. energy producers among possible steps.

Oil clawed back some of its biggest drop in a generation as investors grappled with the most volatile market on record in the midst of simultaneous supply and demand shocks.

America’s shale producers already had a profitability problem. It just got a lot worse.

The OPEC+ alliance’s dramatic failure to reach an output deal is most obviously being felt in oil futures, which plunged the most since 2008 in London. A look at the less-conspicuous corners of the market reveal the scale of the impact. The potential collapse of the group led by Saudi …

Prices will fall until either Moscow or Riyadh call off the endurance contest.

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.

Many shale producers are highly exposed to the current low oil prices.