By Julianne Geiger – 19 Aug 2020, 16:00 CDT Global oil demand is set to recover to near pre-covid-19 levels by the end of this year, Saudi Arabia’s Energy Minister Prince Abdulaziz said ahead of the OPEC + Joint Ministerial Monitoring Committee meeting today, according to The National. Specifically, Prince …
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Russia’s 100% compliance with OPEC + production cut quotas, according to Alexander Novak, who spoke to Rossiya-24 television on Wednesday, Russian news agency Tass reported. “We are at a high level. In July, we completed 97% of our level. This is a high figure for us. We reached 100% in …
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By Julianne Geiger – 19 Aug 2020, 16:00 CDT Global oil demand is set to recover to near pre-covid-19 levels by the end of this year, Saudi Arabia’s Energy Minister Prince Abdulaziz said ahead of the OPEC + Joint Ministerial Monitoring Committee meeting today, according to The National. Specifically, Prince …
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Edge oil prices received another lift today, after the Energy Information Administration reported a record crude oil inventory of 4.5 million barrels for the week to 7 August. At 514.1 million barrels, inventories remain above the five-year average for this time of year, despite several hefty weekly draws, including one …
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August has historically been brutal for oil and gas stocks. According to data from Schaeffer Research, the energy sector has consistently underperformed in August, with returns turning negative in 8 of the last ten years. Oilfield services companies were one of the biggest culprits, with Baker Hughes (NYSE: BKR), Schlumberger …
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