President Donald Trump ordered U.S. energy officials to purchase “large amounts” of oil to fill up the nation’s emergency reserve after the biggest price crash in a generation.
March 14, 2020Search
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Three experts from Transport Enterprise Leasing discuss strategies for buying and selling trucks amid regulatory shifts, trade tensions and economic uncertainty.
China Auto Sales Plunge in February
BEIJING — China’s auto sales plunged 81.7% in February from a year ago after much of the economy was shut down to fight a virus outbreak, an industry group reported March 12.
March 12, 2020US Oil Output to Fall Next Year for First Time Since 2016
U.S. oil output will average 12.7 million barrels a day in 2021, down from an expected 13 million barrels this year, the Energy Information Administration said March 11.
March 11, 2020Oil Traders Are Big Winners in Saudi-Russia Price War
Saudi Arabia and Russia’s price war is handing over a multibillion-dollar profit opportunity to the world’s largest oil traders.
March 11, 2020OPEC Sees No Oil Demand Growth in 2020 as Virus Batters Forecast
OPEC expects there will effectively be no growth in global oil demand this year, slashing its forecasts as the coronavirus hits the world economy.
March 11, 2020Saudi Arabia Increases Oil Output to Record High
DUBAI, United Arab Emirates — Saudi Arabia’s state-run oil giant Saudi Aramco said March 10 it would increase its crude oil production to 12.3 million barrels a day in April, a record amount.
March 10, 2020Global Markets Pick Up After Plunge on Coronavirus, Oil
BEIJING — Global stock markets rebounded March 10 from record-setting declines after U.S. President Donald Trump said he would ask Congress for a tax cut and other measures to ease the pain of the spreading coronavirus outbreak.
March 10, 2020Diesel Falls 3.7¢ to $2.814 a Gallon; Oil Slides Most Since 1991
The U.S. average retail price of diesel fell 3.7 cents to $2.814 per gallon, the Department of Energy reported March 9.
March 9, 2020America’s Days as Net Oil Exporter Numbered Amid Price Rout
America’s nascent status as a net petroleum exporter is already at risk as plunging oil prices threaten domestic production and give a leg-up to the world’s biggest producers.
March 9, 2020Stocks, Oil Plunge Over Global Fight for Crude Production
BEIJING — Global stock markets and oil prices plunged March 9 after a fight among major crude-producing nations jolted investors who already were on edge about the surging costs of a virus outbreak.
March 9, 2020