EghtesadOnline: From quiet skies over Europe to sparse traffic in America’s biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus.
EghtesadOnline: The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures, which had never dropped below $10 a barrel in its nearly 40-year history, plunged to a previously unthinkable minus $38 a barrel.
EghtesadOnline: A Saudi Arabian oil official on Saturday refuted the conclusion of an analytics firm that the country’s oil exports to the US dramatically increased in the last month.
EghtesadOnline: Crude prices in America’s oil capital are getting dangerously close to zero.
EghtesadOnline: With the coronavirus choking fuel demand and the world awash in surplus crude, even the Middle East’s main oil-trading hub has run out of room to store unwanted barrels.
EghtesadOnline: Republican US senators from oil states who recently introduced legislation to remove American troops from Saudi Arabia said on Saturday they had spoken with three officials from the kingdom and urged them to take concrete action to cut crude output.
EghtesadOnline: The president of Mexico -- the lone holdout in an OPEC deal to cut crude production and shore up prices -- said Friday that he has reached a deal with the US president to reduce oil output.
EghtesadOnline: The Iranian Oil Pipeline and Telecommunication Company has supplied close to 100 billion liters of crude and petroleum products nationwide since March 2019, managing director of the company said.
EghtesadOnline: Newly announced US sanctions aimed at harming petroleum and petrochemical trade between Iran and China will not substantially impact China's status as the top importer of Iranian crude, analysts said.
EghtesadOnline: A new oil field was identified in southwest Iran that holds 53 billion barrels of crude oil, President Hassan Rouhani said in Yazd on Sunday.