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Oil markets turning bearish amid signs of pandemic’s accelerating economic impact

(Bloomberg) --Six months after the coronavirus pandemics initial punch, signs of a second wave are already emerging in the oil market. Chinas buying has slowed after the nation binged when crude was cheap. Some of the largest producers in t......【More】

2020-09-10

Jordan to resume Iraqi oil imports halted by pandemic

(Bloomberg) --Jordan will resume imports of crude oil from its Middle East neighbor Iraq this month after suspending shipments due to the coronavirus. Imports of about 10,000 barrels a day will re-start this month, according to Hassan Hiari......【More】

2020-09-08

Oil prices fall on lower U.S. refinery demand projections

NEW YORK (Bloomberg) --Oil tumbled to the lowest level in more than a week with the expectation that refinery demand for crude will weaken in the fall and as investors sought refuge in a stronger dollar. Futures in New York tumbled as much......【More】

2020-09-03

Bleak air travel forecasts lead IEA to lower oil demand projections

LONDON (Bloomberg) --The International Energy Agency cut forecasts for global oil demand as air travel suffers from the coronavirus crisis even more than previously expected. The IEA reduced estimates for almost every quarter through to the......【More】

2020-08-14

Oil tests $40 as OPEC’s extra barrels loom on the horizon

SINGAPORE (Bloomberg) --Oil edged below $40 a barrel as OPEC+ producers started supplying more crude to a global market where many countries are still struggling to contain the coronavirus. The Organization of Petroleum Exporting Countries......【More】

2020-08-04

OPEC+ plans to pump more crude into a precarious global oil market

LONDON (Bloomberg) - From quiet skies over Europe to sparse traffic in Americas biggest cities, a recovery in global oil demand is faltering amid the resurgence in coronavirus. That poses a particularly delicate challenge for the OPEC carte......【More】

2020-08-03

Ecopetrol revises 2020 capital plan upwards on signs of oil market recovery

BOGOTA - Ecopetrol S.A. reports that the Board of Directors approved a new organic investment plan for the Ecopetrol Group (GE) with an estimated amount between US $3 $3.4 billion by 2020. This level of organic investments is similar to the......【More】

2020-07-20

Oil prices stabilize as OPEC compliance eases U.S. demand fears

NEW YORK (Bloomberg) --Crude futures in New York rose in tandem with a broader recovery in equities markets, as initial signs that OPEC members intend to comply with promised oil-production cuts assuaged fears that a resurgence in coronavir......【More】

2020-07-15

Second Libyan oil field restarts, potentially complicating OPEC+ deal

CAIRO (Bloomberg) --Libya took another step toward reviving its moribund oil industry by restarting production at a second important field after a five-month halt. Pumping began on Sunday at the El-Feel deposit, which had suspended operatio......【More】

2020-06-09

Oil price slide continues on OPEC+ strife, questionable demand data

SINGAPORE (Bloomberg) - Oil retreated from a three-month high as OPEC+ unity was threatened by a long-running feud over complying with production cutbacks, while U.S. data cast doubt on the strength of the demand recovery. Futures in New Yo......【More】

2020-06-05