crude oil News Updates

Government, Business, Fuel, Logistics

China Oil Giant Eyes New Supertankers to Shrink Diesel Glut

China’s biggest refiner is eyeing a creative strategy to help rid Asia of a persistent diesel glut — brand new supertankers usually reserved for crude oil.

November 12, 2020
Government, Business, Fuel

Stocks Rally, Crude Oil Jumps on Election Day

U.S. stocks rose as a gust of optimism swept through global equity markets as millions of Americans headed to vote. The dollar weakened and crude oil increased by the most in a month.

November 3, 2020
Government, Business, Fuel

OPEC+ Inches Closer to Delaying Output Hike After Russian Talks

OPEC+ inched closer to delaying its January output increase, with Russia actively discussing keeping its current curbs for an extra three months as oil markets weaken.

November 2, 2020
Government, Business, Fuel

Oil Poised for Worst Month Since March With Growing Curbs

Oil headed for its biggest monthly drop since March as renewed lockdown measures to contain the coronavirus threatened to upend a shaky demand recovery.

October 30, 2020
Business, Fuel

Exxon Warns of $30 Billion Shale Writedown Amid Record Loss

Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields as crashing energy demand and prices spurred a historic losing streak.

October 30, 2020
Business, Fuel, Logistics

E-Commerce Boom Offers Lifeline for Oil

Look across the street from your home-office window: chances are you will see a delivery van.

October 28, 2020
Government, Business, Fuel

Oil Slumps Below $39 on Surging Virus and Libya Restart

Oil extended its slide to a second day on a cocktail of surging coronavirus cases in the U.S. and Europe, dwindling prospects for pre-election stimulus in Washington and a steady resumption of supply from Libya.

October 26, 2020
Government, Business, Fuel

Oil Slips With Renewed Virus Restrictions Sapping Rebound

Oil slipped as nations reimposed tighter lockdown restrictions in hopes of containing a resurgent pandemic that is depressing demand.

October 20, 2020
Business, Fuel

US Oil Production Has Already Passed Its Peak, Occidental Says

America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.

October 14, 2020
Government, Business, Fuel

Oil Drops With Rising US Supplies Adding to Stimulus Concern

Oil held onto losses after U.S. government data showed the first crude stockpile gain in four weeks, adding to concerns over a demand recovery with stimulus talks in limbo.

October 7, 2020