The drop in oil demand by refiners at local level and the exports limited to a minimum at global level due to the coronavirus pandemic, pushed storage capacity to the limit in the producing provinces
The British giant said it slumped into a u$s4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil. "Our industry has been hit by supply and demand shocks on a scale never seen before," BP's CEO stated
Royal Dutch Shell's profits leapt to $3.23 billion in the first three months of the year and the energy company raised its dividend as planned but warned that the outlook remained uncertain due to the coronavirus pandemic
The panel decided to stick to policies broadly agreed at a previous April 1 meeting of OPEC+, Russian Deputy Prime Minister Alexander Novak said after the talks
Saudi Arabia’s crude oil exports fell to their lowest in eight months in February, the Joint Organisations Data Initiative (JODI) said, as the world’s biggest oil exporter voluntarily capped output to support oil prices
Russian Deputy Prime Minister Alexander Novak added that Russia’s energy ministry was ready to support export curbs on oil products in order to bolster the domestic market
Climate-changing CO2 emissions are set to surge by the second-biggest amount in history this year as the global economy recovers from the Covid-19 pandemic, the IEA warned
Global oil prices could drop to around $40 a barrel by 2030 if governments push to reduce fuel consumption in step with U.N.-backed plans to limit global warming, a leading energy consultancy said
Demand will rise by 5.95 million barrels per day (bpd) in 2021, or 6.6%, the Organization of the Petroleum Exporting Countries forecast in its monthly report. That is up 70,000 bpd from last month
Chevron Corp outlined a plan to expand oil and gas production through 2025, but without spending significantly more, and pledged to limit the pace of growth of its carbon emissions
