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Tag: oil prices


Commercialization, Conventional Fuels

Exxon cuts capital spending by 30%, but CEO says it’s ‘committed to maintaining’ dividend

April 7, 2020

Via: CNBC energy

Exxon is slashing its 2020 capital spending plan as depressed oil prices hammer the energy sector, but CEO Darren Woods said that the company’s dividend is safe for the time being. “A lot of our shareholders are retail shareholders — […]


Commercialization, Conventional Fuels

Oil Was A Strategic Prize In 1940. It Likely Will Be In 2040 As Well

April 6, 2020

Via: Forbes

Recent commentaries have been quick to peg the unfolding coronavirus pandemic as the second, or perhaps third, ringing of oil’s death knell. To be sure, the lockdowns are destroying oil demand at an unprecedented scale. Yet trying times demand perspective. […]


Commercialization, Conventional Fuels

Oil Price Truce? Brent Futures Jump 10% As OPEC+ Scrambles Urgent Meeting

April 3, 2020

Via: Forbes

Barely a month on from the collapse of OPEC+ and the subsequent slump in oil prices, the crude producers’ group has announced it will attempt another round of negotiations via an online meeting on Monday (April 6), prompting a price […]


Commercialization, Conventional Fuels, News and Policies, World

6 Questions About Trump’s Oil Deal Announcement With Russia And Saudi Arabia

April 2, 2020

Via: Forbes

On Thursday Morning, President Trump announced that he spoke with the Saudis who spoke with the Russians, and that they planned to cut at least 10 million barrels of oil production. This is a huge cut, but it may be […]


Commercialization, Conventional Fuels

The oil price war could persist until year-end, analyst says

April 1, 2020

Via: CNBC energy

The oil price war could last until the end of the year, an analyst said Wednesday. Prices have plummeted more than 60% since the beginning of year after OPEC+ failed to reach an agreement, leading Saudi Arabia and Russia to […]


Commercialization, Conventional Fuels

Could Covid-19 drive a structural shift in the oil markets?

March 31, 2020

Via: Forbes

Given the enormous funds currently being dedicated to support the economy during the COVID crisis, there has been a lot of talk of the need for ‘green’ stimulus, to ensure that economic recovery doesn’t tank the environment. Yet the fundamental […]


Commercialization, Conventional Fuels

Oil Headed To $10 A Barrel As Virus Lockdown Eradicates Fuel Demand

March 26, 2020

Via: Forbes

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 […]


Commercialization, Conventional Fuels, Energy Economics

Texas Regulator To Trump: The ‘Appropriate Time’ To Intervene In Oil Markets Is Now

March 20, 2020

Via: Forbes

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, […]


Commercialization, Conventional Fuels

Central Asia Needs A Financing Solution To Low Oil Prices

March 17, 2020

Via: Forbes

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 […]


Commercialization, Conventional Fuels

What Does The Oil Price Crisis Mean For The Energy Transition?

March 13, 2020

Via: Forbes

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 […]


Commercialization, Conventional Fuels

Oil drops as much as 8%, on pace for worst week in more than a decade

March 12, 2020

Via: CNBC energy

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 […]


Commercialization, Conventional Fuels

Saudi Arabia unveils plans to maximize oil output, escalating a price war with Russia

March 11, 2020

Via: CNBC energy

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 […]


Commercialization, Conventional Fuels

Is This The Next Oil Price Collapse?

March 9, 2020

Via: Forbes

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, […]


Commercialization, Conventional Fuels

OPEC deal in jeopardy as Russia stalls over deepest round of supply cuts since 2008

March 6, 2020

Via: CNBC energy

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 […]


Commercialization, Conventional Fuels

Oil Prices Hinge On OPEC Decision In Light Of COVID-19 Outbreak

March 5, 2020

Via: Forbes

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 […]