The Gov’t reaffirmed the need to set a reference price for the local oil barrel in order to facilitate investments in the sector once the coronavirus pandemic comes to an end

The crisis unleashed by the Coronavirus pandemic and the collapse of the international oil prices reactivated the debate on a new implementation of the so-called “Criollo barrel”

The Organization of the Petroleum Exporting Countries expects global demand to rise by just 60,000 barrels per day in 2020, a reduction of 920,000 from its previous forecast

Global oil storage capacity is under intense pressure because of booming output from Saudi Arabia and the United States while the coronavirus outbreak slams the world economy and crude demand

Surging oil production from non-OPEC countries led by the US along with abundant global stocks will help the market weather political shocks such as the US-Iran stand-off, IEA said