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Results 50 articles shown
Oil Extends Drop After Plunging on US Virus Warning
Wednesday, February 26, 2020 Oil extended losses below $50 a barrel after plummeting more than six percent over the previous two sessions on fears the fast-spreading coronavirus will take a major toll on global economic growth.
No OPEC Oil Cut Decision Yet Says Saudi Minister
Tuesday, February 25, 2020 OPEC hasn't made a decision yet on whether to extend or modify its agreement to cut oil output.
Oil Slumps as Global Virus Spread Quickens
Monday, February 24, 2020 Oil slumped the most since Feb. 3 as a risk-off mood blanketed Asian markets after the global spread of the coronavirus quickened over the weekend.
Oil Demand Growth Set for Strong 2021
Friday, February 21, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...
Oil Shrugs Off Virus to Eye $60
Thursday, February 20, 2020 Oil extended gains to an eighth day on optimism that China will be able to soften the demand hit from the coronavirus.
OPEC Confirms Meeting Date, Ends Saudi-Russia Scuffle
Wednesday, February 19, 2020 Plans for an emergency gathering have faded away.
Fading Hope for Emergency OPEC Meeting Caps Oil Rally
Monday, February 17, 2020 Oil was steady after the biggest weekly gain since September as hopes for an OPEC+ emergency meeting on the virus faded.
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.
All Eyes on McDermott
Thursday, February 13, 2020 Here are Rigzone's top stories during the last week, just in case you missed them...
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.
OPEC+ Cut Extension Wins Support from Russian Execs
Wednesday, February 12, 2020 Russia's key oil producers voiced support for the idea of extending OPEC+ output cuts into the second quarter.
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.
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.
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.
Coronavirus Oil Demand Destruction is Unprecedented
Monday, February 10, 2020 The default implication is that there will be lower economic activity in China and therefore much lower crude consumption.
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 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.
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.
Natural Gas to Drive 40 Percent of 2020 US Electricity
Wednesday, February 05, 2020 The country must continue to produce gas here, or it will be forced to turn to the increasingly precarious global supply chain.
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.
North America To Lead New Non-OPEC Oil Supply
Tuesday, February 04, 2020 By 2040, even OPEC, which has long underestimated North American shale, has U.S. crude output going above 17 million b/d.
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.
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.
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.
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...
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.
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.
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+ 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.
What Themes Will Dominate Oil in 2020?
Wednesday, January 29, 2020 A variety of themes will dominate oil in 2020.
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.
Are US Anti-OPEC Efforts Fading?
Wednesday, January 22, 2020 The current view within the White House is that OPEC's clout "is already waning and there's no pressing need for action".
Kuwait to Resume Oil Output in Area Shared With Saudis
Wednesday, January 22, 2020 Khafji was shut down in 2014 after a spat between the neighbors.
Oil Slides on Plentiful Supply
Tuesday, January 21, 2020 Oil fell below $65 a barrel as ample global supplies offset the loss of exports from Libya.
Higher Non-OPEC Output Will Keep Oil Prices Honest in 2020
Monday, January 20, 2020 OPEC and its allied producers might be cutting output, but incremental non-OPEC production and demand doubts are likely to prevent oil benchmarks from overshooting current trading ranges.
OPEC, IEA or EIA Completely Wrong in 2020 Oil Market Analysis
Monday, January 20, 2020 Somebody big has got their analysis of the 2020 oil market flat wrong.
Oil Up After Unrest Hits Key OPEC Producers
Monday, January 20, 2020 Oil jumped back above $65 a barrel as supply disruptions in Iraq and Libya reignited concerns over the market's vulnerability to geopolitical risk in key production regions.
OPEC+ Focus on Oil Cuts Unmoved by Unrest
Monday, January 13, 2020 Saudi Arabia's Energy Minister said that OPEC and its allies remain focused on using production cuts to reduce oil inventories to normal levels.
Oil Down on Uninterrupted Mideast Supplies
Tuesday, January 07, 2020 Oil retreated after its dramatic start to the year as the uninterrupted flow of Middle East supplies tempered fears over the fallout from the U.S. airstrike that killed a top Iranian general.
Oil Hits $70 as Supply Disruption Fear Deepens
Monday, January 06, 2020 Oil extended its dramatic surge above $70 a barrel as the fallout between the U.S. and Iran escalated after the assassination of one of the Islamic Republic's most powerful generals.
OPEC Output Falls as Gulf Producers Amp Up Delivery of Oil Cuts
Thursday, January 02, 2020 OPEC's output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets.
OPEC Aims to Prop Up Oil Prices
Tuesday, December 31, 2019 Even if all OPEC members and Russia were to comply 100 percent, global oil inventories could still rise by 700,000 b/d in 1Q 2020.
Hedge Funds Stay Bullish on Oil
Monday, December 30, 2019 Hedge funds are approaching the end of the year more optimistic on global oil prices than they've been since May.
Oil Up as US Crude Stockpiles Shrink
Monday, December 30, 2019 Oil traded near the highest close in over three months after U.S. crude stockpiles declined more than expected.
Russia Says OPEC+ Cuts Cannot Last Forever
Friday, December 27, 2019 OPEC+ output cuts have stabilized the global oil market but can't last forever, Russia said.
Oil Near 3-Month High on Signs of Shrinking Supplies
Friday, December 27, 2019 Oil held gains near the highest level in more than three months on indications of shrinking U.S. crude stockpiles and optimism in the global economic outlook.
Oil Up on US Inventory Drop and Trade Deal Optimism
Thursday, December 26, 2019 Oil rose for a third session as an industry report showed American inventories shrank and as optimism over a partial U.S.-China trade deal grew.
Oil Up as US Crude Stockpiles Seen Shrinking
Tuesday, December 24, 2019 Oil traded above $60 a barrel ahead of U.S. government data forecast to show crude stockpiles shrank.
Oil Analysts See Few 2020 Fireworks
Tuesday, December 24, 2019 Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries and a mixed outlook for demand, according to analysts.
Hedge Funds Boost Bets on Rising US Crude Prices
Monday, December 23, 2019 Hedge funds boosted bets on rising U.S. crude prices to the highest level in more than seven months.