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Oil Price Crash Could Wipe Out $131 Billion In New Projects

The double supply-demand shock in the oil market could lead to companies deferring as much as $131 billion worth of oil and gas projects slated for approval in 2020, with everyone in the industry--from Big Oil to the small players--is feeling the pain of the oil price crash and looks to weather the storm.

read more... 25/03/2020


Daily (03.03.2020): Strong gains in oil prices on Monday, on optimism for OPEC further output cuts

Crude oil futures recorded strong gains on Monday, as central banks promised to protect financial markets from the impact of the coronavirus. Moreover, Russia announced its willingness to cooperate with Opec+ partners to support the world oil market.

read more... 03/03/2020


Daily (05.02.2020): Forward gas and power prices recovered on Tuesday after several days of losses

Crude oil prices tumbled on Tuesday, remaining in a bear market, weighed by the coronavirus impact on Chinese and global demand for black gold, despite OPEC+ measures to calm the oil market.

read more... 05/02/2020


Daily (31.01.2020): A continuous strong decline in British gas prices due to warm weather, low demand and weaker oil markets

Crude oil prices had the worst performance in three months on Thursday, as investors continued to worry about a sluggish demand for oil following the continued spread of coronavirus, with OPEC considering the possibility of an early meeting.

read more... 31/01/2020


Daily (21.11.2019): The 3.3% hike in WTI crude due to a lower-than-predicted growth in U.S crude inventories lent support to the entire energy complex

Oil prices increased on Wednesday following a report indicating that U.S crude inventories rose lower than expected. Moreover, Russia promised to continue its cooperation with OPEC to maintain a balanced oil market. Brent crude jumped by 2.5% to $62.40 a barrel. WTI crude climbed by 3.3% to $57.01 a barrel.

read more... 21/11/2019