Plunge of oil demand limits storage capacity

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

BP announces quarterly loss as oil prices crash

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

Finland replaces Russian Urals with oil from Norway, UK and US

Finland, until now one of the EU countries most dependent on Russian oil, last year halted imports of Ural crude but increased purchases from Norway and stocked up on barrels in the UK. United States and the United States, according to data from Refinitiv Eikon