Tag Archives: oil

[ad_1] by Javier Blas Negative oil prices, ships sailing at sea with unwanted cargo, and traders get creative about where to store oil. The next chapter of the oil crisis is now inevitable: large sectors of the oil industry are about to begin to close. The economic impact of the …

[ad_1] From the beginning, on April 20, it was clear that the oil market was heading for trouble. Frantic sell orders had been arriving overnight, and any merchant connecting to the Nymex platform that morning could see a bloodbath coming. At 7 am. in New York, the price of a …

[ad_1] © Reuters. FILE PHOTO: Crude oil storage tanks are seen in an aerial photograph at the Cushing Oil Center By Aaron Sheldrick TOKYO (Reuters) – Oil prices rose again on Friday, gaining more ground as producers such as Kuwait said they would cut production and the United States approved …

[ad_1] © Reuters. By Barani Krishnan Investing.com: From an unloved market, US crude has become something that oil traders seem not to have enough of. West Texas Intermediate, the benchmark for New York-traded crude futures, has gained 65% since Tuesday’s deal, rising like a phoenix from the ashes of Black …

[ad_1] Due to falling fuel demand and overflowing storage capacity, at least three oil refineries in India have ordered lower crude oil imports for May from the Middle East, including the world’s leading exporter from Saudi Arabia, they told Reuters refinery officials. Two oil refineries will cut their imports of …

[ad_1] © Reuters. By Alex Lawler and Ahmad Ghaddar LONDON (Reuters) – Whether or not OPEC + oil producers formally agree to reduce additional oil production, quickly filling up storage capacity and reducing demand due to the coronavirus crisis may compel them to cut further. With the collapse of crude …

[ad_1] Representative image (Reuters). Oil prices have plunged about 80% this year as the pandemic has spread across the world, killing nearly 180,000 people, routing financial markets and causing the worst economic collapse since the depression of the decade. from 1930. Reuters TOKYO Last update: April 22, 2020 1:51 PM …

[ad_1] India is quickly running out of space to store a growing reserve of fuel as all possible containers, including those from 66,000 pumping stations across the country, threaten to overflow. Refineries in India, the world’s third largest consumer of oil, have filled 95% of approximately 85 million barrels of …

[ad_1] © Reuters. The logo of the Organization of the Petroleum Exporting Countries (OPEC) is located outside its headquarters in Vienna By Katya Golubkova, Rania El Gamal and Ahmad Ghaddar BAKU / DUBAI / LONDON (Reuters) – OPEC, Russia and other oil-producing nations met on Sunday in an attempt to …