WASHINGTON – President Donald Trump on Thursday is expected to sign an executive order that would let federal agencies use emergency powers to fast track major energy infrastructure projects by overriding environmental permitting requirements, two sources familiar with the …
NEW YORK – The amount of natural gas flowing on pipelines to U.S. liquefied natural gas export plants is at its lowest levels since August, a signal of weak worldwide demand due to government lockdowns to repress the coronavirus.…
Morgan Stanley is planning to kick off the return of trading personnel to its New York headquarters in mid to late June, according to people with knowledge of the situation.
The firm expects that, at least at first, only …
RarePetro
Oil & Gas 360 Publishers Note: Kevin Olson has assembled great data points about the influx of fifty million barrels of foreign crude oil to the United States, and may offset most of the production cuts. Pushing out any …
Morgan Stanley on Tuesday raised its year-end Brent price forecast to $40 per barrel, citing a faster-than-expected balance in global oil demand and supply as countries ease coronavirus restrictions and major producers cut supply.
“We expect demand to …
Oil prices fell on Wednesday after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong.
A potential deterioration in relations between the world’s two biggest economies could ratchet …
Reuters
LONDON/LAGOS – The coronavirus pandemic has done in a handful of months what even a 27-year civil war did not: it has brought oil drilling to a halt in Angola, Africa’s second-largest oil producer.
The consequences could be grave …
WASHINGTON — The beaten-down banking sector will remain under pressure through 2025 even as the economy recovers, the International Monetary Fund said Friday.
In its latest “Global Financial Stability Report,” the IMF found banks across nine advanced …
MEXICO CITY/NEW YORK – Mexico’s state-owned oil company Petroleos Mexicanos has seen investor sentiment improve in recent weeks despite sky-high debts, a slump in demand and no clear direction about how the government will turn the money-losing driller around.…
LONDON – Oil fell over 4% on Friday to below $35 a barrel on rising U.S.-China tensions and doubts about the pace of demand recovery from the coronavirus crisis, although it remained on course for a weekly gain.
China …
The Trump administration has granted royalty relief to several drilling companies producing oil and gas on federal lands in recent weeks, according to a government database, as the industry seeks help weathering low energy prices.
The move shows drillers …
MOSCOW/LAGOS/LONDON – The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say.
Lockdowns to …
LONDON – U.S. petroleum consumption has started to rise as the economy emerges from lockdowns imposed to control the spread of the new coronavirus, giving the oil industry hope it has come through the lowest point in the cycle.…
Oil markets are re-balancing after a collapse in demand following the coronavirus outbreak but the pathway to “the next normal” is still very uncertain, the CEO of Abu Dhabi’s National Oil Company (ADNOC) said Thursday.
“There are good signs
The risk of a sharp pull-back in oil prices has decreased as the rebalancing of the crude market gathers pace, Goldman Sachs said, aided by a gradual lifting of coronavirus lockdowns and a faster-than-expected fall in output.
The Wall-Street …
Federal Reserve Chairman Jerome Powell said Wednesday that policymakers may have to use additional weapons to pull the country out of an economic mire that has cost at least 20 million jobs and caused “a level of pain that …
Undoubtedly, the dominant factor in the oil market for the next twelve to twenty-four months will be the progress of the pandemic, which will reduce economic activity and thus oil demand to an uncertain degree and with unpredictable timing. …
LONDON – Oil prices rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain a supply glut built up during the coronavirus crisis.
Brent crude LCOc1 advanced 78 cents, …
Oklahoma’s energy regulators on Monday began hearing arguments from producers seeking to win state-support for setting limits on oil production to help stabilize prices.
U.S. oil futures CLc1 this year have fallen about 60% to under $25 a barrel …
U.S. shale producers Continental Resources Inc and Callon Petroleum Co on Monday joined their peers in cutting production to cope with a rout in oil prices as the coronavirus crisis sapped demand for fuel.
The historic drop in oil …
The coronavirus outbreak will have a lasting impact on the behavior of businesses across the globe, with jet fuel demand unlikely to ever fully recover, according to the head of commodities research at Goldman Sachs.
The Covid-19 pandemic …
Canada’s oil patch has endured five years of existential threats that have pruned weaker companies, but now its strongest firms are trying to navigate the coronavirus pandemic, which has set off the worst crisis in the oil industry in …
HIGHLIGHTS
Debt-stricken Chesapeake Energy Corp said on Monday it was considering a bankruptcy filing, among other alternatives, as the shale driller struggled with an unprecedented rout in oil and gas prices caused by the COVID-19 pandemic.
Reuters reported last month …
LONDON – Oil prices rose on Monday after leading exporter Saudi Arabia said it will reduce output by 1 million barrels per day (bpd) on top of reductions agreed under an OPEC+ pact, though gains were capped by fears …
A record number of Americans just lost their job, and yet stocks are moving higher. This seems paradoxical given the economic toll — to say nothing of the emotional toll — on millions of people across the country without
NEW YORK – North American oil companies have slashed production faster than skeptical OPEC officials and industry analysts expected, on course to cut roughly 1.7 million barrels per day by the end of June, according to a Reuters analysis …
Oil prices rallied for five consecutive days this week amid investor optimism over the relaxing of coronavirus lockdowns in the U.S. and around the world, but several energy analysts argue it’s too soon to get carried away.
The commodity …
