Industry Headlines News for Europe & Russia


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Oil Posts Weekly Gain
Friday, February 14, 2020 Investor confidence was lifted after China reassured the international community that a huge spike in new coronavirus cases was a one-off event.

EIA Cuts 2020 Oil Price Forecast
Thursday, February 13, 2020 The U.S. Energy Information Administration has cut its Brent oil price forecast for 2020.

Oil Rally Stumbles After Jump in Virus Cases
Thursday, February 13, 2020 A nascent rebound in oil prices ran into turbulence after China's Hubei province reported almost 15,000 new coronavirus cases as it changed its method for counting infections.

All Eyes on McDermott
Thursday, February 13, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...

IEA Sees First Global Oil Demand Drop in a Decade
Thursday, February 13, 2020 Global oil demand will drop this quarter for the first time in over a decade as the coronavirus batters China's economy, the International Energy Agency said.

Oil Climbs on Easing Coronavirus Concerns
Thursday, February 13, 2020 The World Heath Organization rekindled optimism that the coronavirus outbreak could be abating.

Oil Rallies While Russia Ponders OPEC+ Plan
Wednesday, February 12, 2020 Oil rallied back above $50 a barrel as investors waited to see whether Russia would accept an OPEC+ plan for production cuts to cope with demand destruction from the coronavirus.

Rystad Slashes Oil Demand Growth Forecast
Wednesday, February 12, 2020 Rystad Energy slashes its global oil demand growth forecast for 2020 by 25 percent after assessing the impact of the coronavirus.

NPD Gets Back Most of Swindled Funds
Wednesday, February 12, 2020 The Norwegian Petroleum Directorate has revealed that $1.84 million of the $1.90 million it was frauded out of last year has been returned.

Oil Posts Biggest Gain Since Early January
Wednesday, February 12, 2020 Signs that the spread of the coronavirus may be slowing boosted investor confidence that crude's sell-off has peaked.

Oil Bounces Back from One-Year Low
Tuesday, February 11, 2020 Oil bounced back from a one-year low in New York but the emergence of a glut since the coronavirus outbreak loomed over the market.

Amidst Big Oil's Struggles, New BP Boss Shares His Vision
Tuesday, February 11, 2020 Investors and activists want to know just how much appetite he has to take on the existential crisis facing the oil industry.

Oil Climbs Despite Russia's Indecision on OPEC+ Cut
Tuesday, February 11, 2020 OPEC+ needs to balance production with the demand trajectory, which looks down.

Oil Down as Expectations of Urgent OPEC Meeting Fade
Monday, February 10, 2020 Oil hovered around $50 a barrel in New York on signs a much-touted emergency meeting of OPEC+ ministers probably won't happen after all.

Shipping Gets Smashed by Coronavirus
Monday, February 10, 2020 The shipping industry tends to do badly when Chinese demand disappoints, but the outbreak of the coronavirus has done more than just damage the amount of cargo that needs to be transported.

Oil Sinks as OPEC Dithers on Output Cut
Monday, February 10, 2020 Oil fell below $50 a barrel to the lowest level in more than a year.

Top Rigzone Articles Roundup
Friday, February 07, 2020 Here's a roundup of Rigzone's top five most popular articles during the last week, just in case you missed them...

Oil Pares Fifth Weekly Loss on OPEC+ Plan
Friday, February 07, 2020 Oil pared its fifth straight weekly loss on optimism that OPEC+ will deepen output cuts.

Oil Posts Longest Weekly Losing Streak Since 2018
Friday, February 07, 2020 Coronavirus clouded the demand outlook and OPEC awaited Russia's decision on whether to cut production.

Global Oil, Gas Discoveries Hit Four-Year High in 2019
Thursday, February 06, 2020 2019 was the best since 2015 for new hydrocarbon supplies.

Oil Up on OPEC+ Optimism and China Tariff Cut
Thursday, February 06, 2020 Oil surged for a second day on optimism OPEC+ will agree on deeper cuts in response to virus-led demand destruction, and as China signaled it will cut tariffs on imports from the U.S. later this month.

Fitch Solutions Slashes Oil Price Forecast
Thursday, February 06, 2020 Fitch Solutions Macro Research has revised down its Brent oil price forecast for 2020.

US Considering Sanctions on Rosneft
Thursday, February 06, 2020 American officials are wary that the move could cause chaos in global oil markets.

Oil Climbs on Hopes Russia Will Agree to OPEC Cuts
Thursday, February 06, 2020 The uptick was on hopes that OPEC and its allies would further curb oil production.

Deepwater Drilling Takes Off
Wednesday, February 05, 2020 Oil majors have boosted demand for floating drilling units as deepwater drilling takes off, according to Rystad Energy.

Oil Up With OPEC+ Split on Cuts
Wednesday, February 05, 2020 Oil increased from a one-year low even as Saudi Arabia ran into Russian resistance in its push for further production cuts to combat a virus-driven demand decline.

Oil Ends 5-Day Losing Streak
Wednesday, February 05, 2020 An OPEC+ production cut overshadowed an uptick in US crude inventories.

Oil Up Before OPEC+ Meeting to Assess Demand
Tuesday, February 04, 2020 Oil climbed before OPEC and its allies gather Tuesday for an urgent meeting to assess the impact of the coronavirus on global demand.

Oil Sinks to One-Year Low on Virus Fears
Tuesday, February 04, 2020 Oil closed below $50 a barrel for the first time in a year as investors grappled with the prospect of the coronavirus paralyzing economic activity.

API Applauds USMCA Signing
Monday, February 03, 2020 American Petroleum Institute President and CEO Mike Sommers has applauded the signing of the U.S.-Mexico-Canada agreement at the White House.

Strong UK-EU Oil and Gas Ties Should Endure Post-Brexit
Monday, February 03, 2020 GlobalData predicts the strong relationship the U.K. oil and gas industry enjoys with partners in the EU should continue.

China Oil Demand Said to Have Plunged 20 Percent
Monday, February 03, 2020 Chinese oil demand has dropped by about three million barrels a day as the coronavirus squeezes the economy, according to people with inside knowledge of the country's energy industry.

Citi Does Not See Oil Revival from Virus Until 4Q
Monday, February 03, 2020 Citigroup Inc. slashed its price forecasts for commodities from oil to copper and iron ore as it said the impact of the coronavirus looks much worse than it initially thought.

OPEC+ Mulls Emergency Response
Monday, February 03, 2020 Russia signaled for the first time it was open to Saudi Arabia's push for an emergency meeting.

Oil Slides After Virus Curbs China Demand
Monday, February 03, 2020 Oil extended the worst start to a year since 1991.

Oil Rebounds After WHO Update
Friday, January 31, 2020 Oil jumped after the World Health Organization said there's no need for travel bans due to the coronavirus.

Top Rigzone Articles Roundup
Friday, January 31, 2020 Here's a roundup of Rigzone's top five most popular articles during the last couple of weeks, in order, just in case you missed them...

China Demand for Latin America Oil Grinds to Halt
Friday, January 31, 2020 Sales of Latin American oil cargoes to China have ground to a halt this week as the deepening crisis around the coronavirus further stifles an already quiet holiday period.

Oil Prices Down Amid Ongoing Pathogen Impact
Friday, January 31, 2020 WTI and Brent prices fell Friday and are down for the week.

Oil Down After US Stockpiles Jump
Thursday, January 30, 2020 Oil resumed declines as the biggest jump in U.S. crude stockpiles in almost three months added to concern over weak demand in a market already grappling with China's spreading coronavirus.

OPEC May Call Early Meeting
Thursday, January 30, 2020 OPEC members are considering holding an emergency meeting next month, as oil prices sink on concern the coronavirus outbreak will hit demand.

US Oil and Gas Jobs Increase
Thursday, January 30, 2020 The U.S. oil and gas industry employed 895,629 professionals in 2019.

Oil Prices Show More Volatility
Thursday, January 30, 2020 After three trading days showing relatively modest price movements, the WTI and Brent benchmarks exhibited greater volatility Thursday.

What Themes Will Dominate Oil in 2020?
Wednesday, January 29, 2020 A variety of themes will dominate oil in 2020.

Oil Claws Back Some Virus Losses
Wednesday, January 29, 2020 Oil extended its recovery from a virus-induced slump as a report showing a drop in U.S. crude inventories, a rebound on Wall Street and speculation OPEC+ will step in to prop up prices reassured investors.

OPEC+ Stands Ready for Appropriate Action
Wednesday, January 29, 2020 OPEC+ stands ready to take appropriate actions, if and when necessary, to maintain oil market stability.

Operators Will Keep Pushing for Faster Returns
Wednesday, January 29, 2020 Oil and gas operators globally will continue to push for faster returns with shorter cycle investments as the industry moves away from giant developments, according to GlobalData.

Oil Prices Close Mixed at Midweek
Wednesday, January 29, 2020 WTI and Brent price movements diverged during Wednesday.

Nerves Over Coronavirus Demand Hit Keep Oil Down
Tuesday, January 28, 2020 Oil steadied after closing at the lowest level since mid-October as the deadly coronavirus wreaked havoc on China's economy and threatened to crimp worldwide energy demand.

New Oil Minister Appointed in Norway
Tuesday, January 28, 2020 Tina Bru has been appointed as the new minister of petroleum and energy in Norway, replacing Sylvi Listhaug.

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