Archives for April 2020
Oil stays below $19 as gloomy demand outlook persists
Oil fell below $19 a barrel in New York as a wave of gloomy demand forecasts and a cratering physical market outweighed an unprecedented deal to cut output. Source: FuelFix
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U.S. shale production projected to fall by 2 million barrels by end of year
U.S. shale production is projected to fall by 2 million barrels per day by end of year, according to a new report from the Norwegian research firm Rystad Energy. Source: FuelFix
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Crude oil storage tanks filling up as gasoline demand drops by nearly a third
Crude oil storage tanks in the United States are nearly 85 percent full as record low commodity prices and falling fuel demand due to the coronavirus pandemic continue to take their toll on the industry....
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Occidental to pay Warren Buffett with more shares, not dividend, on $10B investment
The shares will be used to pay the dividend Buffett’s Berkshire Hathaway is owed for investing $10 billion in Occidental last year. Source: FuelFix
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Global deal to cut oil output in sight after Mexico signs up
DUBAI, United Arab Emirates (AP) — The OPEC oil cartel and nations including Russia have agreed to boost oil prices by cutting as much as 10 million barrels a day in production. Even more countries,...
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