Tag: oil price

Tuesday, March 10th 2020 - 08:15 UTC
Black Monday cocktail: oil price war and coronavirus trigger market panic

World oil prices crashed on Monday, fuelling a vicious selloff on stock markets that were already buckling from the spreading coronavirus outbreak. Stocks tanked as the global oil market nosedived 30% at one stage after top exporter Saudi Arabia slashed the prices it charges customers following a bust-up with Russia over crude production cuts.
Friday, January 24th 2020 - 08:44 UTC
Record oil production in Brazil during 2019

By Irina Slav for Oilprice.com – Brazil produced more than 1 billion barrels last year, the first time it has breached the 1-billion-barrel mark, according to reports from the country’s oil regulator, ANP. The daily average stood at 3.106 million bpd, up 7.78% on 2018, ANP also said.
Monday, September 9th 2019 - 09:45 UTC
OPEC+ wants to further cut output to support oil price, but admits it no longer controls the market

Top oil producers will consider fresh output cuts at a meeting this week, but analysts are doubtful they will succeed in bolstering crude prices dented by the US-China trade war.
Friday, August 23rd 2019 - 09:34 UTC
Oil super majors investing heavily in West Texas Permian

The towns in the heart of the Permian in West Texas—once notoriously known as boom or ghost towns depending on the price of oil and drilling activity—have seen steady growth since 2017 and look to expand community and school services as the boom hasn’t been affected by the recent oil price slide.
Monday, August 12th 2019 - 06:38 UTC
Oil prices down dragged by the China/US trade conflict

Oil prices fell on Monday, dragged down by an economic slowdown and worries about the Sino-U.S. trade war, which have led to a cut in the growth outlook for oil demand.
Thursday, June 27th 2019 - 15:10 UTC
Argentina's shale boom at Vaca Muerta seems to be finally taking off

By Tsvetana Paraskova for Oilprice.com - After years of drilling and development and billions of U.S. dollars of investment, Argentina’s vast shale play Vaca Muerta has finally seen the first tangible results with the first exports of light crude oil and liquefied natural gas (LNG) from the resource-rich formation.
Friday, June 21st 2019 - 15:51 UTC
Oil prices shoot up as Iran says, “It's ready for war”

By Nick Cunningham of Oilprice.com - Oil was woken out of its slumber by yet another round of escalation between the U.S. and Iran, although the matter took on greater importance to oil markets only because of a more upbeat economic outlook.
Friday, February 22nd 2019 - 09:24 UTC
Brazilian oil production challenges OPEC' attempts to balance the market and prices

While everyone is talking about how surging U.S. crude oil production will offset a large part of the ongoing OPEC/non-OPEC production cuts, there are other oil producers not taking part in the OPEC+ deal and poised to see their output jump this year.
Monday, January 7th 2019 - 09:03 UTC
Oil Is at the mercy of Financial Markets

Oil prices regained more ground on Wednesday, pushed higher after equity markets rebounded from an initial selloff at the start of 2019 trading. The price gains are not entirely convincing. WTI and Brent posted strong gains, each up more than 3 per cent by midday in New York, but come largely after U.S. equity markets shook off an earlier bout of pessimism.
Monday, December 3rd 2018 - 07:18 UTC
Oil prices recover following on US/China trade conflict 90-day truce

Oil prices surged in early trading on Monday after the United States and China agreed on a truce in their trade conflict and ahead of a meeting by producer club OPEC this week that is expected to result in a supply cut.