Tag Archives: United States of America

Monday, April 20, 2020 was a historic day for oil market. West Texas Intermediate (WTI) closed below zero for the first time.

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 …

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 …

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.

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 …

American renewable software firm confirms the onboarding of more than one gigawatt of European offshore wind assets.

President Donald Trump said he wants to add as much as 75 million barrels of oil to the nation’s Strategic Petroleum Reserve, taking advantage of record low prices for crude, and that he’ll consider blocking imports of crude from Saudi Arabia. Oil is at “a level that’s very interesting to …

A key American oil benchmark, West Texas Intermediate, fell by more than 80% on Monday as global oil markets continue to grapple with a pandemic-driven collapse in demand.

US President Donald Trump described the historic collapse in oil prices as short-term and caused by “financial pressure,” adding that his administration would consider stopping oil shipments from Saudi Arabia. Trump said at a daily press conference that his administration also plans to increase the level of crude oil stockpiles …

Energy exports from the US reached an all-time high of 23.6 quadrillion Btu in 2019, marking the first time in 67 years that annual US gross energy exports exceeded US gross energy imports, according to the US Energy Information Administration’s (EIA) Monthly Energy Review. Gross US energy imports were 22.8 …