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Daily (28.04.2020): WTI crude plunges by 25% amid concerns over storage

Crude oil futures crashed on Monday amid signs that the worldwide oil storage is filling rapidly, increasing worries that production reductions will not come fast enough to fully offset the collapse in demand due to the coronavirus pandemic. Hence, Brent crude fell by $1.45, or 6.8%, to settle at $19.99 a barrel. At the same time, the U.S. WTI crude plunged by $4.16, or 24.6%, to end at $12.78 a barrel

read more... 28/04/2020


Austria shuts down last coal-fired power plant

Austria has shut down its last coal-fired power plant as part of a plan to end the use of fossil fuels for energy production by 2030.

read more... 20/04/2020


COVID-19: Siemens Gamesa reopening Spanish plants

Siemens Gamesa is reopening all turbine production facilities across Spain after a two week “pause” in non-essential work due to the coronavirus pandemic.

read more... 14/04/2020


Russia expects oil cuts of 5 mln bpd on top of OPEC

Russian Energy Minister Alexander Novak said on Friday he expected oil production cuts by countries outside of the OPEC+ group to amount to 5 million barrels per day (bpd).

read more... 13/04/2020


Global coal production to grow just 0.5% in 2020 – study

Global coal production is set to grow by just 0.5% in this year, as efforts to limit the spread of the coronavirus pandemic have hampered production in China, data and analytics firm GlobalData said on Thursday.

read more... 10/04/2020