Archives for 2020
The oil floating storage trade is on after crude’s latest tumble
The latest collapse in oil prices has put in play a lucrative trade to store crude at sea, reviving memories of the 2008-09 recession when millions of barrels were kept on the world’s oceans. Source:...
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ConocoPhillips cuts $2.2 billion in spending and stock buyback program
Houston oil giant ConocoPhillips has rolled out a plan to save $2.2 billion as crude oil fall prices fall to the $24 per barrel range. Source: FuelFix
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Oil falls to nearly $24, its lowest price since 2002
The price of oil collapsed Wednesday to about $24 a barrel, past the trough of the most recent oil bust and to its lowest level in nearly two decades. Source: FuelFix
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Oil slumps to lowest since 2003 on global recession threat
Oil slid to the lowest level in almost 17 years as the coronavirus pandemic threatened to bring the global economy to a standstill, battering demand just as supply explodes. Source: FuelFix
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Halliburton to furlough 3,500
Halliburton plans to furlough about 3,500 employees in Houston for 60 days while shale producers cut spending amid falling oil prices, according to a Reuters report. Source: FuelFix
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