LONDON/NEW YORK – Surges in coronavirus infections are slowing a recovery in fuel use from the doldrums of lockdowns in the United States and other countries, raising concern it could be years before consumption rebounds from the impact of …
LONDON – Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by the coronavirus pandemic, …
It’s not all about storage.
Yes, the world is watching the available amount of oil storage to try to figure out when the ‘tank tops’ and there’s simply no more space to fill with unneeded crude. There are, however, …
The widow-making collapse in oil prices came to a pause in Asia trade on Thursday, but analysts aren’t convinced that the worst sell-off in oil market history is over yet.
“We think that this is the inflection phase,” Goldman …
Marathon Petroleum Corp. to acquire a terminal and retail locations in Buffalo, New York
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Global oversupply in the oil market has almost become a curse word in the oil and gas industry. Since the OPEC decision to maintain output levels on November 28, 2014, the industry …
