Post Tagged with: "global oil demand"

Source: Reuters

Oil extends losses after surprise U.S. crude stock build confirmed


NEW YORK  – Oil prices extended earlier losses on Thursday after U.S. data showed a surprise build in crude stockpiles last week and on forecasts for lower global oil demand.

Brent futures LCOc1 fell 46 cents, or 1.1%, to …

September 10, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: CNBC

Oil demand to return to pre-pandemic levels by 2022, Goldman says, but unlikely to peak this decade


Analysts at Goldman Sachs expect global oil demand to return to pre-pandemic levels by 2022, citing a pick-up in commuting, a shift to private transportation and higher infrastructure spending.

In a research note published Thursday, analysts at the U.S.

July 2, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: Houston Chronicle

Global oil use heads for record annual drop as virus spreads

Houston Chronicle

Global oil consumption is in free-fall, heading for the biggest annual contraction in history, as more countries introduce unprecedented measures to fight the coronavirus outbreak.

Travel bans, work-from-home, canceled vacations and disrupted supply chains all mean reduced demand …

Source: CNBC

US oil industry expected to cut spending by 10-15% and restructure, Dallas Fed says


The Dallas Federal Reserve, which has the Permian basin in its economic region, expects the oil and gas sector to cut capital spending by 10% to 15% in 2020.

Rob Kaplan, president of the Fed district, said in an

Source: CNBC

Global oil demand to peak around 2040 or ‘much sooner,’ IMF says


Global oil demand will peak around 2040 – or “much sooner” – the International Monetary Fund (IMF) said in a new report on the future of oil.

The IMF said that this could have a “significant” impact on oil-exporting

Source: Reuters

Goldman expects an ‘uneventful’ three-month OPEC output cut extension


Goldman Sachs said on Monday the Organization of the Petroleum Exporting Countries (OPEC) and its allies will likely extend its current output curbs through June, but expects the “uneventful” three-month extension to provide little support to prices.

OPEC and …

December 3, 2019 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC