Tag: Crude Oil
Oil Prices Are Surging Ahead After Historical Lows!
Oil prices are surging, up about 70% in New York since the start of May.
OPEC+ production cuts have lifted the market out...
OPEC+ Cuts Down Crude Oil Production by 9.7Million BPD
OPEC+ is on the way to trimming 9.7 million barrels of daily crude output.
Oil prices have recovered by 60% in the past...
Demand for Tankers and Floating Storages Plummet Amid COVID-19
Crude oil prices regained their footing in late April.
VLCC’s and suezmaxes reached $250,000 per day and $100,000 per day.
It is respectively...
LNG on The Verge of Collapse, Hit As Hard As Crude...
LNG is hit as hard as the crude oil industry and is on shaky ground.
20 cargoes of U.S. LNG have been cancelled...
Rising Stockpiles Drown The Oil Market!
Lockdown measures have crippled the demand and supply is not falling quickly enough to keep up.
Oil-storage tanks around the world are rapidly...
Hess Deepens Spending Cuts and Lowers Budget By 37% Due To...
Hess reduced its budget to $1.9 billion, down 37% from the company's original $3 billion budget.
Net Bakken production to average 175,000 barrels...
Judge Orders Shipper To Deposit $108 Million To Secure Ship’s...
London High Court ordered two defendants to deposit US$76 million.
The deposit has to be deposited into a Singapore court to free the...
Is COVID-19 The End of The Road for The U.S Oil...
2020 global oil demand may average 20 million barrels per day lower than in 2019.
U.S. gasoline comparative inventory has increased by 30...
Asia-Pacific Refineries Increase Running Costs Due To COVID-19
Refineries in Asia-Pacific are further reducing throughput due to storage issues.
They are halting operations as governments introduce strict measures to combat the...
Thirst for Oil Vanishes, Leaving Industry in Chaos!
2020 has unleashed a world-wide oil-production cut led by the U.S., Saudi Arabia, and Russia.
Due to lockdown crude-oil demand has collapsed as...