Venezuelan oil company PDVSA is recently considering re-launching another petrol-producing unit, hoping to put an end to the petrol shortage in the country, which sits on top of the world’s largest reserves of crude oil. PDVSA plans to restart the gasoline-producing unit at its CRP refining complex within two weeks, …
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FATHI NASRI / Getty The International Energy Agency lowered its global forecasts for oil demand for 2020 and 2021 over expectations of a further decline in air travel. Although there has been a recovery in business and industrial activity, the agency has not shyed away from its estimate. The Paris-based …
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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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By Julianne Geiger – 12 Aug 2020, 11:00 CDT U.S. crude oil production will fall by an average of 990,000 barrels per day, according to the Energy Information Administration, for an average of 11.26 million bpd. That is a much larger loss than the agency expected during its previous forecast …
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If COVID has one thing in solidarity, it is that playing the market must be democratic. And as always in a democracy, people get what they deserve: that means we see tons of amateur investors in the market, skewing sentiment away from foundations. A large portion of that falls on …
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