crude oil
Stocks Sink Under Weight of Another Collapse in Oil Prices
Oil storage tanks stand in Tuapse, Russia, on March 23. (Andrey Rudakov/Bloomberg News)
Stocks have fallen in early trading on Wall Street April 20, as energy stocks get hammered by the latest collapse in the price of oil.
April 20, 2020Oil Drops to 18-Year Low on Record Demand Collapse
Pipelines run near oil storage tanks in Cushing, Okla., in 2015. (Daniel Acker/Bloomberg News)
Oil plunged to the lowest in two decades amid a record collapse in U.S. fuel demand and the biggest-ever weekly build in domestic crude supplies.
April 15, 2020Saudi Oil Keeps Flooding Market With Output Pact Yet to Begin
An employee looks out over a facility in Saudi Aramco's oilfield in Shaybah, Saudi Arabia. (Simon Dawson/Bloomberg News)
Saudi Arabia and other Gulf suppliers may have agreed to cut oil production again starting next month, but by all indications the taps are set to remain wide open until then — swelling stockpiles for at least a few more weeks.
April 15, 2020OPEC, Oil Nations Agree to Nearly 10 Million Barrel Cut Amid Virus
Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia, third right, chairs a virtual summit of the G20 energy ministers in Saudi Arabia on April 10. (Saudi Energy Ministry via AP)
OPEC, Russia and other oil-producing nations on April 12 finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said.
April 13, 2020Mexico Strikes Deal With US, Paving Way for OPEC Output Cuts
The sun sets behind an idle pump jack near Karnes City, Texas, on April 8. (Eric Gay/Associated Press)
Mexico says it has reached an agreement with the United States that will allow it to agree to a deal on production cuts with OPEC, Russia and other countries.
April 10, 2020Oil Soars After Trump Says Saudis and Russia Will Cut Production
(Carina Johansen/Bloomberg News)
Oil soared after President Trump said that he expects Saudi Arabia and Russia to cut output back by 10 million barrels or more after he spoke with Crown Prince Mohammed Bin Salman.
April 2, 2020Oil Tanks at Vital Africa Hub Almost Full as Crude Floods Market
An oil storage tank during construction in Saldanha Bay, South Africa, in 2019. (Waldo Swiegers/Bloomberg News)
Oil tanks at one of the world’s largest storage hubs on Africa’s southern tip already are almost full, limiting traders’ options as a historic flood of crude hits the market.
April 2, 2020Trump: World’s Biggest Oil Producers to Meet on Market Crash
Lights illuminate oil storage tanks at the RN-Tuapsinsky refinery, in Tuapse, Russia, on March 22. (Andrey Rudakov/Bloomberg News)
President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching a historic plunge in oil prices.
April 1, 2020Canadian Crude Now Costs More to Ship Than to Buy
Water is pumped into a tailings pond at the Suncor Energy Steepbank mine in Fort McMurray, Alberta, in September 2018. (Ben Nelms/Bloomberg News)
Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself, a situation that may result in even more oil-sands producers shutting operations.
March 27, 2020Projections Show World Could Run Out of Places to Store Oil
Oil tanker trucks sit parked beside storage silos in Germany in June 2019. (Alex Kraus/Bloomberg News)
The world will run out of places to store oil in as little as three months, according to an industry consultant.
March 26, 2020