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.
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.
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, 2020Oil 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.
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.
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.
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.
Most US Oil Job Losses in Pandemic to Remain, Report Says
Almost three-quarters of the pandemic-driven jobs losses in the U.S. petroleum and chemical sectors may not come back before the end of next year, according to Deloitte.
Oil Falls on Growing Chorus of Warnings About Demand Recovery
Oil in New York plunged below a key technical level for the first time since June as concerns over progress on another round of U.S. fiscal stimulus compounded growing fears that a sustained recovery in demand is still some way off.
Oil Dips in Wake of Renewed Concerns Over Virus Surge
Oil fell amid growing concerns that another wave of the coronavirus pandemic will lead to tighter lockdown measures and further stifle crude demand.