When the capital city of Tehran partially emerged out of the shutdown on Saturday, we witnessed some traffic on the roads for the first time after almost a month, since the beginning of Nowruz holidays.
Read More »OPEC cannot Address Oil Market Crash Alone
Resolving crude oil issues need global support, and producers must work together in order to survive, especially producers who produce more expensive crude.
Read More »US Crude Oil Plunges Below Zero in Unprecedented Wipeout; Why?
Monday, April 20, 2020, was a historic day for New York Mercantile Exchange's (NYMEX) crude oil contracts as the price of the item plummeted to minus $ 37.63 for the first time in the industry’s history.
Read More »Coronavirus & Oil Price Ally Against Trump
Nowadays, the black gold experiences a dark time and sharp fall of oil price has cast a shadow on the political economy sector to show that the world’s economy is not going well.
Read More »Trump, Coronavirus Go Hand in Hand to Make American Crude Valueless
Monday, April 20, 2020 was a historic day for oil market. West Texas Intermediate (WTI) closed below zero for the first time.
Read More »U.S. Halts Chevron in Venezuela with End to Sanctions Waivers
Chevron will be forced to effectively wind down its operations in Venezuela, dealing the Maduro regime’s crumbling oil industry another blow as U.S. President Donald Trump maneuvers for regime change in the Latin American nation. The U.S. Treasury Department will no longer allow the company to drill wells, sell and …
Read More »Crude Price Collapse will Finally Force US Oil Industry to Cut Production or Go Bust
The oil-price plunge could create a historic precedent in which the US may finally help boost the sinking energy market, albeit involuntarily, instead of benefiting at the expense of others, oil executive Mike Cantrell believes. The price of US benchmark West Texas Intermediate (WTI) contract for May finished trading on …
Read More »How Us WTI Crude Fell Below Zero
The impact of the fall in crude oil prices by more than $55 on Monday, April 20, on the East Asian market was about $3 as WTI is not used as a benchmark for pricing Iranian crude oil.
Read More »Coronavirus Destroys Oil-Dependent Economy of Saudi Arabia
Saudi Arabia may have won a brief no-holds-barred oil price war with Russia, but observers say it hastened a coronavirus-led energy slump despite a subsequent historic deal to slash production. “This has changed everything,” chief economist at Abu Dhabi Commercial Bank Monica Malik told Bloomberg in an article published on …
Read More »Renewable Software Firm Signs Up Gigawatt of Offshore Wind Capacity
American renewable software firm confirms the onboarding of more than one gigawatt of European offshore wind assets.
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