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 Energy slashes its global oil demand growth forecast for 2020 by 25 percent after assessing the impact of the coronavirus.
The Norwegian Petroleum Directorate has revealed that $1.84 million of the $1.90 million it was frauded out of last year has been returned.
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.
Investors and activists want to know just how much appetite he has to take on the existential crisis facing the oil industry.
OPEC+ needs to balance production with the demand trajectory, which looks down.
The UK's Oil and Gas Authority has launched a year-long UK Continental Shelf mediation pilot.
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.
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.
The proposed drawdown would be in addition to about 260 million barrels of congressionally mandated sales through fiscal year 2027.
Oil fell below $50 a barrel to the lowest level in more than a year.
The cost increase threatens to be a political liability for the Canadian prime minister.
Here's a roundup of Rigzone's top five most popular articles during the last week, just in case you missed them...
Coronavirus clouded the demand outlook and OPEC awaited Russia's decision on whether to cut production.
Oil pared its fifth straight weekly loss on optimism that OPEC+ will deepen output cuts.
Fitch Solutions Macro Research has revised down its Brent oil price forecast for 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 m ...
American officials are wary that the move could cause chaos in global oil markets.
The uptick was on hopes that OPEC and its allies would further curb oil production.
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.
Oil majors have boosted demand for floating drilling units as deepwater drilling takes off, according to Rystad Energy.
An OPEC+ production cut overshadowed an uptick in US crude inventories.
"With respect to our ability to influence it, I think that's still an open question," Tillerson said.
Oil closed below $50 a barrel for the first time in a year as investors grappled with the prospect of the coronavirus paralyzing economic activity.
The UK's subsea engineering industry is set to create 8,928 jobs in the next three years, according to the findings of a new report by industry body Subsea UK.
Oil climbed before OPEC and its allies gather Tuesday for an urgent meeting to assess the impact of the coronavirus on global demand.
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.
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.
Russia signaled for the first time it was open to Saudi Arabia's push for an emergency meeting.
WTI and Brent prices fell Friday and are down for the week.
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.
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...
Oil jumped after the World Health Organization said there's no need for travel bans due to the coronavirus.
The index achieved its cyclical peak in February and fell for the next 10 months.
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 members are considering holding an emergency meeting next month, as oil prices sink on concern the coronavirus outbreak will hit demand.
After three trading days showing relatively modest price movements, the WTI and Brent benchmarks exhibited greater volatility Thursday.
Before its name change, the Canada-listed shares of EnCana had been falling for a decade.
The bounce happened after inventories fell and Alberta's premier pledged to defend prices.
Oil and gas operators globally will continue to push for faster returns with shorter cycle investments as the industry moves away from giant developments, according to GlobalData.
OPEC+ stands ready to take appropriate actions, if and when necessary, to maintain oil market stability.
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 i ...
The recent WTI and Brent losing streak failed to continue for a seventh day.
BP's outgoing CEO Bob Dudley warned Big Oil of moving too fast on investing in new technologies to counter climate change.
A new project will test whether mental exercises can improve offshore safety and reduce burnout among offshore energy workers.