Tag Archives: Reuters International News Agency

Iran has decided to halt work on the expansion of its Abadan oil refinery until mid-April as part of measures to contain the new coronavirus outbreak, the semi-official Mehr news agency said, citing Managing Director of National Iranian Oil Engineering and Construction Company (NIOEC) Saeed Sattari Naini. Iran contracted China’s …

The UAE Minister of Energy and Industry Suhail Bin Mohammed Al Mazrouei has said that a new agreement between OPEC members is essential to support a balanced and less volatile market. Al Mazrouei said, via a series of tweets, “OPEC and OPEC+ played an important role in delivering market stability. …

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 …

Oil prices bounced 8 per cent on Tuesday from the biggest one-day rout in nearly 30 years, as investors eyed the possibility of economic stimulus amid a price war between Russia and Saudi Arabia and as new virus cases slowed in China. President Donald Trump on Monday said he will …

The most immediate pain is likely to be felt in the US shale industry.

The coronavirus. which originated in China. has spread to more than 60 countries and has killed over 3.000 people globally.

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.

OPEC+ group as an effective mechanism will preserve long-term stability.

Saudi Arabia wants to hold prices from falling. but Russia is still not agreeing.