Archives for March 2020
Saudi Arabia increases oil output to record high
DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-run oil giant Saudi Aramco said Tuesday it would increase its crude oil production to 12.3 million barrels a day in April, a record amount. The move...
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America’s days as net oil exporter are numbered in price rout
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to world’s biggest producers. Source: FuelFix
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Oil rebounds from worst loss since 1991 amid stimulus hopes
Oil rebounded from its worst loss since 1991 on speculation that potential U.S. tax cuts may shield the market against the coronavirus and a price feud between major producers. Source: FuelFix
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Experts: Companies with strong 'hedge books' will survive oil war
Oil companies that locked in their production at prices before the oil war between Russia and Saudi Arabia are in a better position to survive record low commodity prices, experts said. Source: FuelFix
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Oil War: Some Permian Basin operators already scaling back operations
Two companies operating in the Permian Basin of West Texas are already planning to scale back their drilling operations amid an oil war between Russia and Saudi Arabia that has caused commodity prices to crash....
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