Archives for April 2020
Oil extends recovery from selloff but concern over glut lingers
Oil extended its recovery from Monday’s plunge below zero, but trading remains volatile with the market under intense pressure from a swelling global glut. Source: FuelFix
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Petroleum inventories jump again as demand plummets
Demand for gasoline fell more than 40 percent from a year ago. Source: FuelFix
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TechnipFMC posts $3.3 billion loss on falling value of underwater equipment
Houston and Paris-based oilfield service company TechnipFMC posted a $3.3 billion loss, mostly on the falling value of its equipment for underwater projects as offshore activity declines. Source: FuelFix
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U.S. oil producers find higher prices at regional trading hubs
The U.S. benchmark for crude oil closed trading Monday at an all-time record low of negative $37.63 per barrel but producers were able to find higher prices in some regional trading hubs. Source: FuelFix
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U.S. oil and gas rig count continues steep declines
The number of operating U.S. oil and gas rigs continued to nosedive this week, plunging by 73 operating rigs, according to the Baker Hughes rig count. Source: FuelFix
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