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

YPF to lower fuel prices in October

The oil company said in a statement that it will lower its fuel prices starting on October 1, although a tax increase and the devaluation of the peso will limit the impact on retail prices

OPEC defends strategy supporting all energy sources

The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Kuwaiti Haitham al Ghais, defended in Brazil a strategy that supports all energy sources and stated that achieving this requires "adequate" investment over many decades