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Developing nations may lose up to 85% of oil and gas income this year - IEA, OPEC
Developing nations’ oil and gas income will fall by 50% to 85% this year to a more than two-decade low if current market conditions persist, the International Energy Agency and OPEC said in a rare joint statement on Monday, citing recent IEA analysis.
read more... 17/03/2020
Daily (11.03.2020): Oil, stuck between coronavirus and price war, sharply recovered on Tuesday as Russia is open to renew cooperation with OPEC
Crude oil futures rebounded on Tuesday after having hit the worst session since 1991the previous day as ongoing talks between OPEC and Moscow remain possible.
read more... 11/03/2020
Daily (09.03.2020): Brent crude records the biggest daily loss since 2008 after OPEC deal collapses
Crude oil futures plunged on Friday after the disintegration of the OPEC+ alliance led to an all-out price war between Saudi Arabia and Russia that is likely to have political and economic consequences.
read more... 09/03/2020
Daily (06.03.2020): Brent crude below $50 a barrel on Thursday as non-OPEC producers not yet ready to further cut output
Crude oil futures continued to decline on Thursday as worries about global oil demand and slower economic growth caused by the coronavirus outbreak were heightened by concerns that non-OPEC crude producers haven’t yet agreed to further reduce output in order to support prices.
read more... 06/03/2020
Daily (05.03.2020): Brent down 1.4% on Wednesday as Russia resists to OPEC calls for drastic oil cuts
Crude oil futures fell on Wednesday after Russia opposed Saudi Arabia’s plans requesting OPEC+ deeper oil production cuts in order to offset an eroding demand due to the coronavirus outbreak.
read more... 05/03/2020