Archives for March 2020
Demand meltdown crushes fuel prices, drags crude to 4-year low
Gasoline may soon cost less than the crude it’s made from as plunging fuel demand batters the oil market. Source: FuelFix
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Weatherford returns to profitability after leaving bankruptcy
Chapter 11 bankruptcy has allowed Houston oilfield service company Weatherford International to close 2019 with its first profit in more than six years. Source: FuelFix
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Oil slumps to lowest since 2016 as demand collapse triggers rout
Oil’s spectacular collapse deepened as widening global efforts to fight the spread of the coronavirus looked set to trigger the most severe contraction in annual demand in history. Source: FuelFix
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EOG Resources cuts budget as oil prices continue to fall
Houston oil company EOG Resources is cutting its 2020 capital budget by nearly a third amid record low commodity prices. Source: FuelFix
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TechnipFMC places separation on hold amid coronavirus outbreak
Houston and Paris oilfield service company TechnipFMC has placed plans to split into two separate companies on hold amid volatile market conditions created by the coronavirus outbreak. Source: FuelFix
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