Archives for 2020
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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Report: Crude oil exports soar while U.S. inventory grows slightly
Crude oil production and exports soared during the last week of February while U.S. inventories grew slightly, a new report from the Department of Energy showed. Source: FuelFix
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Largest oil drop in history underway, analysts say
The largest oil demand drop in history us underway due to the coronavirus outbreak, even worse than that experienced during the 2009 financial crisis, analysts at the research firm IHS Markit said Wednesday. Source: FuelFix
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OPEC+ experts urge more output cuts as meeting scaled down
Experts from OPEC+ recommended that oil ministers consider a larger production cut when they meet later this week as the coronavirus takes a greater toll on the world economy. Source: FuelFix
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Oil extends gains as Saudis push for deeper OPEC+ cuts
Oil rose for a third day after Saudi Arabia pushed for a deeper output cut than OPEC’s technical committee recommended a day earlier. Source: FuelFix
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