Tag Archives: Rystad Energy

Oil prices hit a four-month high on Thursday, pushed higher by supply restrictions and a global rebound in demand. However, the accelerating spread of the coronavirus across the United States represents a major red flag, threatening another downturn. Experts had long warned that a second wave might be possible, but …

OPEC slashed oil production to the lowest level since the Persian Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again. Saudi Arabia delivered the extra curbs promised in June, and the laggards, though still trailing in …

U.S. shale was one of the big losers of the Saudi-Russian price war that many saw as a war on U.S. shale. Producers scrambled to stay afloat as prices sank back to lows not seen since 2016, and they are still scrambling. Banks are giving them the cold shoulder, worried …

US shale oil production will slip to 7.632 million b/d in July, down 93,000 b/d from June and the lowest in two years, the US Energy Information Administration said June 15. EIA trimmed its estimate for June production by 97,000 b/d from last month’s outlook to 7.725 million b/d, according …

The number of U.S. oil-producing companies filing for bankruptcy has exceeded 200 in the first quarter of 2020, and as billions of dollars in revenue have vanished amid low oil prices, thousands of workers have also lost their jobs. Due to the coronavirus, crude oil prices last month hit their …

Oil prices rallied again on Wednesday on signs of improving crude demand and a drawdown in United States crude inventories, but gains continued to be capped by concerns over the economic fallout from the coronavirus pandemic. Global benchmark Brent crude settled up $1.10, or 3.2 percent, at $35.75 per barrel, …

The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say. Lockdowns to stop the spread of COVID-19 have snarled the supply of spare parts and …

OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing about 10 percent of global supply, to support oil prices amid the coronavirus pandemic. The group, known as OPEC+, agreed to reduce output by 9.7 million barrels per day (bpd) for May-June, …

The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say. Lockdowns to stop the spread of COVID-19, the flu-like infection caused by the virus, have …

Hemmed in by weak demand and scarce storage, the world’s biggest exporter of liquefied natural gas may soon face a stark choice: curb output or ignite a battle for market share that has the potential — just as in the oil market — to turn gas prices negative. Qatar began …