Political & Social Unrest News

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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.

Shell Plans Major Drilling in Mexico
Wednesday, February 26, 2020 Royal Dutch Shell is pushing ahead on its massive deepwater drilling plan in Mexico.

Oil Edges Up with Virus Fallout Still Unknown
Tuesday, February 25, 2020 Oil recovered some of its losses following the biggest drop in almost seven weeks as investors attempted to gauge the economic impact of the fast-spreading coronavirus and the potential response from producers.

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.

Teck Pulls Oil-Sands Mine Project
Monday, February 24, 2020 Teck Resources is pulling its application for a controversial new oil-sands mine in Alberta.

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 Rally Sputters on Renewed Virus Concern
Friday, February 21, 2020 Oil pared a second weekly gain on renewed concern about the impact of the coronavirus.

Crew Kidnapped from Oil Tanker
Friday, February 21, 2020 Reporting indicates that the Alpine Penelope crude oil tanker has been attacked while in transit towards Lagos.

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.

OTC Partners with UAHT for Sixth Year
Thursday, February 20, 2020 The Offshore Technology Conference revealed Wednesday that it will continue its partnership with United Against Human Trafficking.

Supply Risks Push Crude Back Toward $60
Wednesday, February 19, 2020 Oil jumped back above $58 a barrel and was set for the longest run of gains in more than a year.

Oil Snaps Rally as Investors Assess Virus Measures
Tuesday, February 18, 2020 Oil snapped the longest run of daily gains this year as investors assessed the demand hit from the coronavirus and stimulus measures being rolled out to cushion its economic impact.

Russia Faces $50B Payout
Tuesday, February 18, 2020 Russia may have to pay a record $50 billion arbitration ruling after a Dutch court ruled in favor of the former owners of Yukos Oil Co.

Trudeau Asks for Patience Amid Disruptive Rail Blockades
Tuesday, February 18, 2020 Indigenous-rights protests that have brought rail traffic to a halt across Canada drag on.

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.

Short-Sellers Give Oil a Break
Monday, February 17, 2020 Short-sellers are giving oil a reprieve after the global coronavirus scare led them to double bearish wagers in just two weeks.

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...

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.

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.

Exxon Cracking Down on Employee Travel
Tuesday, February 11, 2020 Exxon Mobil Corp. has been scrutinizing employee-travel budgets since the largest North American oil explorer posted its worst quarterly profit in almost four years, said people with knowledge of the matter.

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.

OGA Launches Mediation Pilot for License Disputes
Monday, February 10, 2020 The UK's Oil and Gas Authority has launched a year-long UK Continental Shelf mediation pilot.

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 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.

China LNG Force Majeure Rejected
Friday, February 07, 2020 Two of Europe's biggest energy companies rejected a Chinese force majeure on liquefied natural gas contracts in the latest twist to a drama that's gripping global commodities markets.

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.

New BP CEO Contends with Protests on First Day
Wednesday, February 05, 2020 Bernard Looney, who succeeded Bob Dudley as BP's group chief executive on February 5, contended with protests at the company,s headquarters on his first day in the new role.

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.

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.

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.

What Impact Would a Fed. Acreage Frack Ban Have?
Friday, January 31, 2020 Rystad Energy looks at the potential impact of a federal acreage fracking ban.

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 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.

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.

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.

Total Sued Over Carbon Emission Targets
Tuesday, January 28, 2020 Oil giant Total SA is being sued by 14 local governments and a handful of non-governmental organizations in France for not doing enough to reduce its carbon emissions and fight global warming.

Oil Tumbles on Virus Fear
Monday, January 27, 2020 Oil tumbled on fears China's deadly coronavirus will crimp demand.

Oil Traders Made Billions in 2019
Monday, January 27, 2020 The world's largest energy traders enjoyed one of their best ever years in 2019.

Iraq Al Ahdab Oil Field Resumes Production
Monday, January 27, 2020 Iraq's Al-Ahdab oil field resumed production about a week after operations halted there due to protests by security guards amid unrest in one of OPEC's biggest producers.

Virus Anxiety Has Oil Poised for Losing Streak
Friday, January 24, 2020 Oil is heading for the longest run of weekly losses since May on fears China's coronavirus outbreak may dent demand amid plentiful global supplies.

SARS Oil Demand Implications Proved Transitory
Friday, January 24, 2020 While SARS was an extreme event, the oil demand implications proved transitory, according to Standard Chartered.