Grant Smith
OPEC Sees Demand for Its Crude Above Pre-Virus Levels in 2021
Gas flares burn from pipes aboard an offshore oil platform. (Ali Mohammadi/Bloomberg News)
OPEC expects demand for its crude oil to rebound sharply next year, surpassing levels seen before the coronavirus crisis, as rival producers struggle to revive output.
July 14, 2020Oil Demand to Drop This Year for First Time Since 2009, IEA Says
Luke Sharrett/Bloomberg News
Global oil demand will decline this year for the first time since the 2009 financial crisis as the coronavirus slams the world economy.
March 9, 2020Oil Extends Rally Above $50 Amid Signs Virus Spread Is Easing
(Carina Johansen/Bloomberg News)
Oil extended its rebound above $50 a barrel as tentative signs that Asia’s coronavirus may be easing spurred speculation that the worst of crude’s sell-off could have passed.
February 12, 2020Oil Holds Biggest Weekly Loss Since July on Easing Gulf Tension
The sun sets beyond an oil pumping unit at a drilling site operated by Tatneft OAO near Almetyevsk, Russia. (Andrey Rudakov/Bloomberg News)
Oil was steady after the biggest weekly drop since July as an easing of geopolitical tension in the Middle East turned attention back to a flood of new supply set to hit the market this year.
January 13, 2020Oil in London Set for Biggest Weekly Gain in Eight Months
Ali Mohammadi/Bloomberg News
Oil in London was on track for its biggest weekly increase since January as traders waited to see whether Saudi Arabia can fulfill promises to swiftly repair critical facilities attacked last weekend.
September 20, 2019Oil in Longest Run of Weekly Gains Since 2017 on Tight Supply
Ali Mohammadi/Bloomberg News
Oil in New York headed for the longest weekly winning streak since November 2017 as crises from Venezuela to Libya threatened supplies, while optimism over U.S.-China trade talks buoyed the outlook for demand.
April 5, 2019Oil Nears $70 as OPEC Tightens Supply, Hopes for Trade Deal Grow
Al Seib/Los Angeles Times
Oil rose near $70 a barrel in London, a level last breached in November, as global crude supplies tightened while hopes for an end to the U.S.-China trade impasse lifted financial markets.
April 3, 2019Oil Falls From Four-Month High on Concerns of Economic Slowdown
Al Seib/Los Angeles Times
Oil fell from its highest closing level in four months in New York as signs of a slowing global economy stirred concerns about fuel demand.
March 22, 2019OPEC Sees Weaker Demand for Its Crude as US Oil Supply Thrives
Jim Gehrz/Minneapolis Star Tribune
OPEC reduced its estimate for the amount of crude the world needs it to pump this year as U.S. production continues to thrive and the demand outlook falters.
February 12, 2019US Could Soon Pump More Crude Than Saudis Can at Their Peak
Jim Hickcox/ Flickr
Propelled by the shale-oil boom, the U.S. is already producing more crude than either Russia or Saudi Arabia, who until recently vied for the top spot. By midyear America will go one better.
January 18, 2019