Oil Glut
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Oil Prices Slip As U.S. Inventory Build Stokes Fears Of Supply Glut
Crude inventories rose by 584,000 barrels in the week to Oct. 16 to about 490.6 million barrels, data from industry group the American Petroleum Institute showed.
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Oil Refiners Worldwide Struggle With Weak Demand, Inventory Glut
Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts.
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Declare Coronavirus An "Act Of God" To Help Oil Producers: Oklahoma To Donald Trump
Oklahoma's governor has called on USPresident Donald Trump to declare the coronavirus pandemic an "act of God," a step to help oil-producing states contend with a crude glut that caused futures prices to close below $0 last week for the first time.
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Oil Prices Tumble As Demand Collapse; Brent Sees The Worst Fall Since 1999
Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.
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Day After Historic Crash, US Oil Prices Rebound At $10.01 Per Barrel
A day after its historic slide into negative territory amid a supply glut, US oil futures finished in positive territory Tuesday although the market remained under heavy pressure.
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Trump Orders Plan To Fund US Oil Firms After Record Low Prices
US President Donald Trump on Tuesday ordered his administration to come up with a plan to aid US oil companies struggling with a massive supply glut and record-low crude prices.
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US Crude Oil Price Goes Negative For The First Time In History
The US benchmark crude oil price collapsed on Monday, falling to one cent a barrel amid an epic supply glut caused largely by the coronavirus pandemic's hit to demand.
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India's Airlines Seek Emergency Credit From Oil Firms, Airports: Report
Airlines in India are asking the government to help them obtain unsecured credit from oil companies and airports, as fuel-price increases push them deeper into losses and imperil their survival. Competition and aggressive pricing are stopping fares from rising to reflect higher input costs, the Federation of Indian Airlines said in a letter sent to...
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Saudi Arabia Won't Let Another Glut Surface, Says Energy Minister Khalid Al-Falih
Saudi Arabia Energy Minister Khalid al-Falih said on Wednesday that the world's biggest exporter of crude oil will not sit by and let another supply glut surface, but also does not want oil prices to rise to "unreasonable levels".
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OPEC Sees Balanced Oil Market Only By Year-End Due To Production Glut
The oil producers' cartel has revised its crude oil production output forecast thrice since November.
-
Oil Prices Slip As U.S. Inventory Build Stokes Fears Of Supply Glut
Crude inventories rose by 584,000 barrels in the week to Oct. 16 to about 490.6 million barrels, data from industry group the American Petroleum Institute showed.
-
Oil Refiners Worldwide Struggle With Weak Demand, Inventory Glut
Global oil refiners reeling from months of lackluster demand and an abundance of inventories are cutting fuel production into the autumn because the recovery in demand from the impact of coronavirus has stalled, according to executives, refinery workers and industry analysts.
-
Declare Coronavirus An "Act Of God" To Help Oil Producers: Oklahoma To Donald Trump
Oklahoma's governor has called on USPresident Donald Trump to declare the coronavirus pandemic an "act of God," a step to help oil-producing states contend with a crude glut that caused futures prices to close below $0 last week for the first time.
-
Oil Prices Tumble As Demand Collapse; Brent Sees The Worst Fall Since 1999
Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.
-
Day After Historic Crash, US Oil Prices Rebound At $10.01 Per Barrel
A day after its historic slide into negative territory amid a supply glut, US oil futures finished in positive territory Tuesday although the market remained under heavy pressure.
-
Trump Orders Plan To Fund US Oil Firms After Record Low Prices
US President Donald Trump on Tuesday ordered his administration to come up with a plan to aid US oil companies struggling with a massive supply glut and record-low crude prices.
-
US Crude Oil Price Goes Negative For The First Time In History
The US benchmark crude oil price collapsed on Monday, falling to one cent a barrel amid an epic supply glut caused largely by the coronavirus pandemic's hit to demand.
-
India's Airlines Seek Emergency Credit From Oil Firms, Airports: Report
Airlines in India are asking the government to help them obtain unsecured credit from oil companies and airports, as fuel-price increases push them deeper into losses and imperil their survival. Competition and aggressive pricing are stopping fares from rising to reflect higher input costs, the Federation of Indian Airlines said in a letter sent to...
-
Saudi Arabia Won't Let Another Glut Surface, Says Energy Minister Khalid Al-Falih
Saudi Arabia Energy Minister Khalid al-Falih said on Wednesday that the world's biggest exporter of crude oil will not sit by and let another supply glut surface, but also does not want oil prices to rise to "unreasonable levels".
-
OPEC Sees Balanced Oil Market Only By Year-End Due To Production Glut
The oil producers' cartel has revised its crude oil production output forecast thrice since November.
