Archives for March 2020
Exxon taps brakes on Permian Basin after virus hammers oil
Exxon Mobil Corp. is slowing the pace of its flagship shale project in the Permian Basin, one of the first signs that the oil majors are throttling back on production in response to the recent...
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Oil holds below $47 as OPEC’s planned cut awaits Russian backing
Oil held below $47 a barrel in New York as OPEC agreed on a sharp production cut that’s still dependent on approval from Russia. Source: FuelFix
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OTC plans to go ahead as coronavirus cancels other conferences
Organizers of the largest oil and natural gas trade show in the world say they plan to continue with an annual conference planned in Houston despite the global coronavirus outbreak canceling similar events. Source: FuelFix
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OPEC+ dispute continues as Russia rejects further production cuts
OPEC+ found itself stuck in a familiar place after a first day of talks in Vienna, with its two most important members split over whether deeper production cuts are required to offset the huge demand...
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Saudis want OPEC+ to cut more than 1 million barrels a day
Saudi Arabia is urging OPEC+ to agree to an oil-output cut of more than 1 million barrels a day to compensate for the hit to demand from the global spread of the coronavirus. Source: FuelFix
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