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Coronavirus Economy: Oil And Gas Companies May Lose $1 Trillion In Revenues This Year

The coronavirus pandemic and related lockdowns across the world will seriously eat into the revevue streams of oil and gas companies this year

European Stocks Gain As France Is Latest To Ease Lockdown Measures

With new deaths and infections slowing in several badly hit countries including Italy, Spain and the United States, officials are taking tentative steps to ease lockdown measures, lifting the mood on equity markets

European stocks gain as France is latest to ease lockdown measures

Trade Body Warns 30,000 UK Offshore Oil Jobs May Vanish

Low oil prices and the Covid-19 pandemic may ravage UK’s oil and gas sector

Energy storage facilities are nearly full, which has added to downward pressure on crude prices

Crisis-hit Oil Market In Frantic Hunt For Storage

Crisis-hit oil market in frantic hunt for storage

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US President Donald Trump wants to help oil companies after a supply glut and shortage of storage space drove prices into the negative for the first time

Trump Orders Plan To Fund US Oil Companies

Trump orders plan to fund US oil companies

IBT Staff Reporter Apr 21, 2020

The May futures contract expires Tuesday, meaning traders who buy and sell the commodity for profit needed to find someone to take physical possession of the oil

US Oil Returns To Positive Territory After Crash

US oil returns to positive territory after crash

IBT Staff Reporter Apr 21, 2020

With billions of people in lockdown, global cities have become ghost towns, though some governments are considering a slow easing of restrictions as infection and death rates ease

Devastating Oil Glut Sends Prices Into Negative, Wall Street Down

Devastating oil glut sends prices into negative, Wall Street down

IBT Staff Reporter Apr 20, 2020

The International Energy Agency still sees the global oil market still being in surplus early next year despite additional production cuts by OPEC and its allies

Oil Prices Drop To Record Low, Negative Territory Amid Coronavirus Pandemic Woes

The May contract, which expires Tuesday, settled at a negative $37.63, meaning producers might need to pay to get rid of crude.

Marcy Kreiter Apr 20, 2020

Oil prices have slid to near two-decade lows, hit by the virus and a Saudi-Russia battle for market share

Coronavirus Oil Price Plunge: Futures Traded At Less Than $3 A Barrel

The historic rout saw prices settle at negative $37.63, meaning producers would need to pay traders to take the contract.

Marcy Kreiter Apr 20, 2020

An oil refinery in Galveston Bay in Texas. A lack of storage facilities is pushing the price of oil down

US Crude Falls Below $15 A Barrel As Virus Throttles Demand

US crude falls below $15 a barrel as virus throttles demand

IBT Staff Reporter Apr 20, 2020

Under pressure: the coronavirus crisis has 'historic shock' for the oil market according to OPEC

OPEC Says Oil Market Undergoing 'Historic Shock'

OPEC says oil market undergoing 'historic shock'

IBT Staff Reporter Apr 16, 2020

Shell intends to reduce the "net" carbon output from both its operations and products

Green Groups Cautious As Shell Unveils 'Net Zero' Plan

Green groups cautious as Shell unveils 'net zero' plan

IBT Staff Reporter Apr 16, 2020

Tokyo's benchmark Nikkei 225 slid as a stronger yen weighed on investor sentiment

Global Stock Markets And Oil Prices Slide As Virus Impact Mounts

Global stock markets and oil prices slide as virus impact mounts

IBT Staff Reporter Apr 15, 2020

The IEA said measures taken to bolster the global economy and to reduce oil supply should allow a "gradual" recovery in the second half of the year

IEA Predicts 'Worst Year In The History' Of Oil Sector

IEA predicts 'worst year in the history' of oil sector

IBT Staff Reporter Apr 15, 2020

Consumers are seeing some benefit from the crash in crude oil prices as prices for petrol fall at the pump

Oil Price Strikes 2002 Low, As Demand Set To Crash

Oil price strikes 2002 low, as demand set to crash

IBT Staff Reporter Apr 15, 2020

The oil price collapse prompted top producers to tighten the taps to stop haemorrhaging crude revenues

Why Has OPEC-led Deal Failed To Energise Oil Prices?

Why has OPEC-led deal failed to energise oil prices?

AFP News Apr 14, 2020

British-flagged oil tanker Stena Impero leaves Bandar Abbas port in southern Iran where it had been detained for more than two months

Coronavirus Oil Glut: US To Rent Strategic Oil Reserve Space To Nine Petroleum Companies

The administration is negotiating with the companies for 23 million barrels of the strategic petroleum reserves 77-million-barrel capacity.

Marcy Kreiter Apr 14, 2020

Oil producers thrashed out a compromise deal on Sunday to cut production by nearly 10 million barrels per day from May

US Stocks Mostly Fall As Oil Prices Gyrate On OPEC Deal

US stocks mostly fall as oil prices gyrate on OPEC deal

AFP News Apr 13, 2020

Saudi Arabia's Energy Minister Abdulaziz bin Salman chairs a virtual meeting of G20 oil ministers in Riyadh

Oil Prices, Virus, Instability Put Algeria On Edge

Oil prices, virus, instability put Algeria on edge

AFP News Apr 12, 2020

Oil Prices: Trump Promotes OPEC, Russia Deal On Output As Mexico Offers Support

Mexican President Andres Manuel Lopez Obrador was originally hesitant about the deal.

Wesley Dockery Apr 11, 2020

Mexico President Andres Manuel Lopez Obrador (center) has come under fire for his handling of the coronavirus outbreak due to his reluctance to take measures that would hurt the country's economy

Mexico Says Reached Deal With Trump To Cut Crude Output

Mexico says reached deal with Trump to cut crude output

AFP News Apr 10, 2020

Oil prices are sitting around two-decade lows, hit by the virus and a Saudi-Russia battle for market share

Top Oil Producers Except Mexico Agree To Output Cuts: OPEC

The agreement, which also reduces production by eight million bpd from July to December, depends on Mexico's consent for it to take effect, the oil cartel said.

AFP News Apr 10, 2020

OPEC, Allies Consider Output Cut After Price Crash

OPEC, allies consider output cut after price crash

AFP News Apr 09, 2020

Oil prices have fallen sharply since expectations for a quick deal to cut output levels were dashed

Oil Prices Rebound On Hopes For Output Cut Deal

Oil prices rebound on hopes for output cut deal

AFP News Apr 06, 2020

Billions of people around the world are in lockdown to limit the spread of the coronavirus, which has put a huge strain on the global economy

Stocks Surge On Hopes For Easing Virus Crisis

Stocks surge on hopes for easing virus crisis

AFP News Apr 06, 2020

With billions of people around the world in lockdown for the foreseeable future, there are increasing worries about the impact on the global economy, which is already expected to fall into recession

Oil Price Barrels Ahead As OPEC Flags Meeting

Oil price barrels ahead as OPEC flags meeting

AFP News Apr 03, 2020

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ENERGY

Coronavirus Economy: Oil And Gas Companies May Lose $1 Trillion In Revenues This Year

European Stocks Gain As France Is Latest To Ease Lockdown Measures

Trade Body Warns 30,000 UK Offshore Oil Jobs May Vanish

Crisis-hit Oil Market In Frantic Hunt For Storage

Oil Rockets Higher, Boosting Global Equities

Florida Power And Light And Gulf Power Plan To Merge In 2022

Analyst Predicts Oil Price May Sink To Negative-$100 Next Month, Other Experts Also Gloomy

Continued Oil Market Turmoil Weighs On Global Stocks

AI Data Centre Electricity Demand Increasing US Utility Bills, Putting Households in Debt

Trump Orders Plan To Fund US Oil Companies

US Oil Returns To Positive Territory After Crash

Devastating Oil Glut Sends Prices Into Negative, Wall Street Down

Oil Prices Drop To Record Low, Negative Territory Amid Coronavirus Pandemic Woes

Coronavirus Oil Price Plunge: Futures Traded At Less Than $3 A Barrel

US Crude Falls Below $15 A Barrel As Virus Throttles Demand

OPEC Says Oil Market Undergoing 'Historic Shock'

Green Groups Cautious As Shell Unveils 'Net Zero' Plan

Global Stock Markets And Oil Prices Slide As Virus Impact Mounts

IEA Predicts 'Worst Year In The History' Of Oil Sector

Oil Price Strikes 2002 Low, As Demand Set To Crash

Why Has OPEC-led Deal Failed To Energise Oil Prices?

Coronavirus Oil Glut: US To Rent Strategic Oil Reserve Space To Nine Petroleum Companies

US Stocks Mostly Fall As Oil Prices Gyrate On OPEC Deal

Oil Prices, Virus, Instability Put Algeria On Edge

Oil Prices: Trump Promotes OPEC, Russia Deal On Output As Mexico Offers Support

Mexico Says Reached Deal With Trump To Cut Crude Output

Top Oil Producers Except Mexico Agree To Output Cuts: OPEC

OPEC, Allies Consider Output Cut After Price Crash

Oil Prices Rebound On Hopes For Output Cut Deal

Stocks Surge On Hopes For Easing Virus Crisis

Oil Price Barrels Ahead As OPEC Flags Meeting

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IBT Spotlight

The U.S. And Iran Appear To Move Further Away From a Deal To Reopen Hormuz. Stocks Edge Down.

Tariffs Are Putting Shein's Model In Peril As Ultra-Cheap Prices Stand Under Pressure

Michael Saylor's Strategy Sells More Bitcoin, Increasing Its Cash Stockpile To $4.6 Billion. Its Stock Is Dropping.

Zelenskyy Says More North Korean Troops Are Headed To Russia And Asks For More Support From South Korea

Iran Is Seeking Compensation From The U.S. Over War Damages. Trump Is Now Doing It Too.

U.S. Strategic Petroleum Reserve Falls To Its Lowest Level In More Than Four Decades As Hormuz Strait Remains Closed