Tag Archives: oil prices

By Irina Slav – 11 Aug 2020, 9:10 AM CDT U.S. oil companies have begun recovering their crude oil from government storage tanks, suggesting that the glut that forced them to store it there in the first place is now losing. Companies have extracted about 2.2 million tonnes of raw …

ExxonMobil reported its biggest quarterly loss in history on Friday when the coronavirus pandemic reduced demand and oil prices. The Texas-based oil giant lost nearly $ 1.1 billion from April to June, as COVID-19 caused a historic drop in oil prices that hurt its production business. That came immediately after …