Archives for March 2020
Oil’s 60 percent crash is the tip of an iceberg. The reality is worse.
(Bloomberg) — As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still. Having...
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Collapsing oil demand counters stimulus efforts
Oil turned lower on an unprecedented hit to consumption, even as policy makers attempted to kickstart the global economy. Source: FuelFix
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PUC to consider emergency fund for struggling Texans
The Public Utility Commission is expected to establish an emergency fund to help pay the electricity bills of Texans struggling from the spread of the coronavirus pandemic. Source: FuelFix
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Phillips 66 suspends several projects, cuts budget as oil prices tighten
Houston pipeline and refinery operator Phillips 66 is planning to cut more than $3 billion from the company’s budget and suspend several projects as crude oil prices remain stuck at record lows. Source: FuelFix
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Fracking giants warn shale crash will be faster this time
(Bloomberg) — Two of the world’s biggest oilfield service companies are warning of a bigger shale crash than the one that hit the U.S. and Canada just five years ago. While the decline in North...
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