Crude oil continues it’s schizophrenia moves during today’s trading session after reports of weakness in the post Coronavirus world. The list below is today’s top…
Commodities
Russia’s energy minister calls oil at $50 to $55 a barrel in 2021
“The future recovery is going to be much slower,” Novak told CNBC as demand concerns weighed on crude prices. Goldman on the other hand expects…
A look at China’s economy based on Crude imports?
China has imported a total of 51.29 million crude oil tons in July, expanding 25 percent since a year ago. According to SCMP The central…
Mexico’s Pemex to launch world’s largest oil hedge
Mexico’s economy depends heavily on oil exports and thus is looking to safeguard against future market turmoil that might cause the number two Latin American…
Thousands of oil wells have been shut in
Something that was considered unthinkable in the past is now a reality all across the U.S oilpatch. Across the Permian Basin that is West Texas…
Who won this oil price war?
As OPEC + promotes production cuts, and US oil producers reduce production, and countries around the world gradually relax restrictions on corona outbreaks, investors’ expectations…
Crude Oil jumps 5%, posting second straight week of gains
Oil prices rose on Friday and were on course for a second consecutive week of gains as U.S. producers rapidly shut crude production and more…
Russia’s unwillingness to lose market share pays off?
For Russia, it’s the unwillingness to lose market share has paid off, but for the U.S? within a month five US oil and gas companies…
Saudi Arabia raises crude oil prices
Demand worries are lingering, yet Saudi Arabia has increased crude oil prices, and U.S. oil prices fell more than 3%. Earlier in the day, after…
U.S. To Withdraw American Patriot Missiles From Saudi Arabia
U.S. To Withdraw Patriot Missiles From Saudi Arabia and is considering reductions to other military capabilities. “Saudi Arabia is a very wealthy country and they’ve…
Oil turns lower, snapping five-day winning streak
Data from the U.S. Energy Information Administration released Wednesday showed that for the week ending May 1 inventories rose by 4.6 million barrels, which was…
President Of Mexico López Obrador and Trump Make A Deal
President Donald Trump said the United States would cut its oil production to assist Mexico in keeping alive a deal between OPEC and other oil-producing…
Oil prices turned negative, giving back a more than 12% gain
Oil prices turned negative, giving back a more than 12% gain, as the Street awaited details on production cuts from OPEC and its allies, known…
Crude oil sells below $6 per barrel in some parts of Texas
A report states, while crude oil is selling for more than $25 per barrel on the New York Mercantile Exchange, “WTL Midland, a type of…