Tag Archives: Gulf Times

Oil Fields Face Disorderly Shutdown despite OPEC+ Cuts

Some oil fields are set to suffer chaotic stoppages despite efforts by OPEC+ to mitigate the impact of coronavirus on global markets, the International Energy Agency warned. “Lockdown measures have caused unprecedented demand declines, whose speed and magnitude greatly exceed the normal market flexibility of supply,” the Paris-based IEA said …

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Big oil Sees Evidence of A Rebound in Chinese Demand

Some of the world’s largest oil producers are starting to see evidence of a rebound in demand from China, even as other economies around the world remain hobbled by the coronavirus. While it’s still early days into the Chinese recovery, limited initial sales data was encouraging, Irving, Texas-based Exxon Mobil …

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