Category: Commercialization

March 27, 2020

CNBC’s Jim Cramer said Friday he thinks the price of oil will fall further because of demand and supply shocks from the dual crises of the coronavirus pandemic and global producer infighting. Cramer cited oil prices as something high-frequency, computerized […]

March 26, 2020

Oil prices have collapsed by more than half this year, to $23 per barrel today for West Texas Intermediate crude. But now is not yet the time to buy oil — because the worst is yet to come. Gasoline demand […]

March 23, 2020

The big news related to the oil and gas business over the past few weeks has obviously been related to the crash in oil prices. First, the global demand destruction by the spread of the coronavirus knocked the price for […]

March 20, 2020

During his coronavirus Task Force press conference on Thursday, President Donald Trump said he was considering intervening in the situation with the global oil market “at the appropriate time”: “It’s very devastating to Russia because when you look at it, […]

March 19, 2020

If you’re looking for a little good news during this difficult time dominated by the coronavirus, gasoline prices have fallen, and in some places dramatically so. In Vermont, the lowest price reported on the vermontgasprices.com website (GasBuddy app) is Cunningham’s […]

March 17, 2020

The ongoing slide in global oil prices – catalyzed by the novel Coronavirus and fueled by structural issues including excess supply from oil giants like the U.S., Russia and Saudi Arabia, and slowing demand growth – is creating a new […]

March 13, 2020

The current crisis facing the oil industry happened seemingly overnight, the result of a two-pronged situation: the economic slowdown caused by the global COVID-19 pandemic and the predatory attempt by Saudi Arabia and Russia to eliminate competition from the American […]

March 12, 2020

Oil prices dropped as much as 8% on Thursday as crude continues to take a hit on both the supply and demand side. U.S. West Texas Intermediate crude is now down more than 25% this week, putting it on track […]

March 11, 2020

OPEC kingpin Saudi Arabia unveiled plans Wednesday to dramatically ramp up oil production, raising the stakes of an all-out price war with non-OPEC leader Russia. State-owned oil behemoth Saudi Aramco said Wednesday that it had been asked by the Saudi […]

March 9, 2020

While OPEC and its compatriots struggle to cope with the demand weakness caused by the covid19 virus, it must be asked if this is more than a brief interlude in an otherwise robust oil market (robust in terms of price, […]

March 6, 2020

OPEC and non-OPEC allies have so far failed to agree on how much production to cut amid the coronavirus outbreak, with Russia reportedly refusing to give the green light to the deepest supply cuts since the global financial crisis. Oil […]

March 5, 2020

OPEC ministers reached a deal on Thursday to cut oil production by 1.5 million barrels a day, but it remains to be seen whether Russia and the other OPEC+ partners will go along with the reductions. The OPEC+ is meeting […]

March 2, 2020

OPEC could deliver a larger-than-expected production cut at its meeting later this week, according to MUFG Bank. Oil prices have been under pressure since the outbreak of the coronavirus in January dampened the demand outlook for the year. Following the […]

March 2, 2020

Covid19 has now graduated from a concern to a pandemic, regardless of whether it is officially declared so. (Although it might have been by the time you read this.) It appears highly likely that the effect on the economy is […]

February 27, 2020

Even if OPEC cuts production by 600,000 barrels a day, oil prices could remain weak until April, according to a senior analyst at S&P Global Platts. That’s because inventories are rising amid lower oil demand due to the coronavirus outbreak, […]