Oil Edges Up After US Crude Supplies Shrink Most This Year
Oil was propped up by the biggest decline in U.S. crude inventories this year, signaling a bright spot in a market weakened by COVID-19.
Falling Oil Prices May Stem Demand for Trucks, Experts Warn
The rapid plunge in oil prices could cut into sales of both tractors and liquid tank trailers as well as the trucks that haul fossil fuel extraction equipment, experts said.
US 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.
Oil 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.
Saudi 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.
Global 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.
Stocks, 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.
Oil Demand to Drop This Year for First Time Since 2009, IEA Says
Global oil demand will decline this year for the first time since the 2009 financial crisis as the coronavirus slams the world economy.
Oil Plummets in Worst Week Since 2008 Amid Coronavirus Panic
Oil plunged to the lowest level in 14 months as panic from the fast-spreading coronavirus spiraled global markets deeper into losses for the seventh straight day.
Oil Set for Biggest Weekly Loss Since July as Mideast Risk Eases
Oil is headed for its biggest weekly loss since July as the prospect of an immediate confrontation between the U.S. and Iran abated, allaying fears of disruption to Middle East energy supplies.