Oil Price

By calling for an urgent OPEC+ meeting to discuss oil price stabilization under pressure from President Donald Trump, Saudi Arabia has admitted defeat in its price war against Russia, Mamdouh Salameh, a visiting…

Low gas prices have been turning more heads than wheels in recent weeks in the wake of an oil price war and as the Covid-19 pandemic continues. The average cost of a gallon of regular gas in Washington state, as of April 29, was…

(Adds estimate of Guyana lifting costs, analyst comment)GEORGETOWN, April 2 (Reuters) - The recent plunge in crude oil prices has had no impact on production at Guyana’s flagship Liza project, operated by Exxon Mobil Corp, but the…

Euro zone inflation slowed sharply in March, a first estimate from Eurostat showed today. This comes as an oil price war between Russia and Saudi Arabia slashed energy prices and the coronavirus pandemic brought economic activity…

Saudi Aramco shares have shaken off the ravages of an oil-price war to briefly regain the $1.7 trillion valuation that the company achieved in its record-breaking initial public offering. The stock rose as much as 2.8 per cent to 32.55…

With the oil price war between Saudi Arabia and Russia showing no signs of relenting, some analysts are now warning that the standoff could extend much longer.  Saudi policy now appears to revolve around inflicting pain on both OPEC and…

Text size Helima Croft says Iraq is among the “shaky six” nations particularly vulnerable to cheap oil. Above, the Adora oil…

Delegates from Russia and the Saudi-led OPEC agreed in principle Thursday, April 9, to slash oil production in an effort to raise global prices during the coronavirus pandemic, according to a Bloomberg…

DUBAI, March 24 (Reuters) - Oman has put on hold discussions to raise debt via loans as the Gulf oil exporting country deals with the coronavirus outbreak and plunging oil prices, sources familiar with the matter said.The Gulf state had…

The US has raised the pressure on Saudi Arabia to change course in its oil price war with Russia, calling on the kingdom to “rise to the occasion” and start working to stabilise global energy markets.Mike Pompeo, the US…

Shares of oil and gas companies slipped on Tuesday, a day after the US crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced…

Nationwide, the price at the gas pump has plummeted as normally car-crazy Americans stay off the roads and in their homes to avoid spreading the novel coronavirus, which has already killed more than 19,000 people around the world.That…

Inter Pipeline Ltd. is slashing its dividend 72 per cent as the energy industry faces the fallout from the COVID-19 outbreak and the oil price war between Saudi Arabia and Russia. The company, which operates pipelines and other energy…

Starting tomorrow, we will be holding a special call every Tuesday for entrepreneurs and other business leaders about the day-to-day challenges of running a business during the pandemic. The DealBook Helpline will feature experts from a…

For some countries, an extended period of low prices could be crippling. Many oil exporters depend on oil sales for government revenue and their current account balance. But the pain will go beyond the headline oil states of Saudi…

FILE PHOTO: A man walks in front of the headquarters of Petroleo Brasileiro S.A. (Petrobas) in Rio de Janeiro, Brazil March 9, 2020. REUTERS/Sergio Moraes/File Photo Banks…

Want this in your inbox each morning? Sign up here.It’s all happeningMarket turmoil shows no signs of letting up, as fears over the spread of the coronavirus were met by an oil price war between two of the world’s largest producers.…

1. What’s this bustup about?Russia had joined forces with OPEC in 2016, along with nine other non-member countries, and the group controlled almost half of the world’s oil production. The “OPEC+” pact led to a resurgence of the cartel,…

BRUSSELS, March 31 (Reuters) - Euro zone inflation slowed sharply in March, a first estimate showed on Tuesday, as an oil price war between Russia and Saudi Arabia slashed energy prices and the coronavirus pandemic brought economic…

Are you rubbing your eyes in disbelief that crude price became zero last evening? What do you think the implications of this would be for oil-producing nations, for oil-producing companies, for shale gas producers? Are we staring at a…