Tag: Oil

Oil under renewed pressure as glut overwhelms production cuts – BNN Bloomberg
— Read on www.bnnbloomberg.ca/oil-under-renewed-pressure-as-glut-overwhelms-production-cuts-1.1427358

(Bloomberg) — Saudi Aramco began reducing oil production earlier this week ahead of the May 1 start date for OPEC+ output cuts, according to a Saudi industry official familiar with the matter.Aramco has begun to curtail production from about 12 million barrels a day to achieve the agreed level of 8.5
— Read on ca.finance.yahoo.com/news/saudi-aramco-starts-cutting-output-064421680.html

Dyer: Double whammy has big oil staring down barrel of ‘inexorable decline’ | London Free Press
— Read on lfpress.com/opinion/columnists/dyer-double-whammy-has-big-oil-staring-down-barrel-of-inexorable-decline/wcm/f32906a2-d468-41df-91e9-ebdf358346cb/

Light sweet crude oil futures for June undefined surged nearly 14% in electronic action, to $15.67 a barrel, as the Brent contract undefined added 9% to…
— Read on www.marketwatch.com/story/oil-futures-rally-taking-june-contract-above-15-a-barrel-2020-04-23

Oil extends recovery from furious selloff as glut worries linger – BNN Bloomberg
— Read on www.bnnbloomberg.ca/oil-extends-recovery-from-furious-selloff-as-glut-worries-linger-1.1425555

Oil prices jumped on Wednesday, despite ongoing concerns about a building supply glut and a lack of available storage.
— Read on www.cnbc.com/2020/04/22/meltdown-in-oil-continues-as-brent-plunges-more-than-15percent.html

Oil tankers carrying enough crude to satisfy 20% of the world’s daily consumption are gathered off California’s coast with nowhere to go as fuel demand collapses.
— Read on www.bloomberg.com/news/articles/2020-04-21/oil-tankers-are-surrounding-california-with-nowhere-to-unload

Oil in London traded near a 21-year low as the global benchmark was sucked into the rout that sent U.S. futures below zero for the first time ever this week.
— Read on www.bloomberg.com/news/articles/2020-04-21/oil-edges-up-after-historic-meltdown-pushes-june-to-near-10

Orbiting hundreds of miles above the Earth, the Sentinel-1 satellites are the eyes in the sky that show why U.S. oil prices dropped below zero and why much of the world is likely to follow.
— Read on www.bloomberg.com/news/articles/2020-04-22/tanks-full-why-oil-at-negative-100-isn-t-a-crazy-bet-anymore