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Commodities

The upstream oil and gas sector’s biggest commercial fear from the Coronavirus (COVID-19) epidemic is its impact on demand and prices. Only a small proportion of global supply comes from the worst-affected regions. Read more

Commodities

The three-month rolling average is up despite a small recent decline. Read more

Refining & Petrochemical Processing

Lower oil prices and investor demand for higher returns have forced U.S. shale producers to scale back investment after output surged over the past three years to total 13 million barrels per day. Read more

Commodities

Oil fell below $56 a barrel on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses. Read more

Commodities

Global shares and oil extended losses on Monday while safe-haven gold soared as the spread of the coronavirus outside China accelerated with infections jumping in South Korea, Italy and the Middle East, in a worrying new development in the outbreak. Read more

Commodities

The coronavirus outbreak may curb demand for oil in China and other Asian countries, depressing oil prices further to as low as $57 a barrel and clouding growth prospects across the Middle East. Read more

Commodities

The oil market’s pricing structure signals a potential tightening in supplies from a surge in demand as fears about the impact of the coronavirus subside and following tighter U.S. sanctions on Venezuelan exports. Read more

Commodities

Texas’ oil production rose to an estimated 5.4 million barrels per day (bpd) in December. Read more

Commodities

In the February 2020 update of its Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that global liquid fuels demand will average 101.7 million barrels per day in 2020. Read more

Commodities

Oil fell below $57 a barrel on Tuesday, pressured by concerns over the impact on oil demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market. Read more

Commodities

U.S. sanctions will make it more difficult for Venezuela to export oil, particularly to countries such as China and India, where Rosneft part-owns an oil refiner, Nayara Energy. Read more

Regulations

President Donald Trump’s 2021 budget released on Monday proposed a sale of 15 million barrels of oil from the emergency petroleum reserve to help pay for projects overseen by the Department of Energy. Read more

Commodities

The coronavirus outbreak in China will curb global oil demand growth by at least a quarter this year, and the production cuts of 600,000 barrels per day (bpd) proposed by an OPEC+ committee are far from enough to balance the market. Read more

Commodities

The U.S. Energy Information Administration projects that the United States will export more crude oil and petroleum products combined than it imports until 2050. Read more

Commodities

Oil gained more than 1 percent, recovering from a 13-month low as the number of new coronavirus cases slowed in China. Read more

Commodities

Oil prices dipped on Monday on weaker Chinese oil demand in the wake of the coronavirus outbreak and as traders waited to see if Russia would join other producers in seeking further output cuts. Read more

Commodities

In November 2019, the United States exported 772,000 barrels per day (b/d) more petroleum than it imported, marking the third consecutive month in which the United States was a net petroleum exporter. Read more

Commodities

Oil futures gave up early gains despite potential action from the OPEC+ group of producers to counter an expected fall in oil demand as a consequence of the coronavirus outbreak. Read more

Commodities

U.S. crude oil stockpiles rose far more than anticipated last week as refiners cut runs on the back of weakened demand for fuel, with gasoline inventories building to a record high, the Energy Information Administration said on Wednesday. Read more

Commodities

Independent U.S. refiner Valero Energy Corp topped Wall Street estimates for quarterly profit on Thursday, as it earned more from refining low-cost Canadian heavy crude. Read more

Commodities