Special Coverage

OPEC fallout: Oil plunges

Saudi Arabia's shock decision to increase oil output after OPEC talks failed rattled markets reeling from virus effect. Watch this space for all updates.

oil and gas Oil plunges posting fifth straight weekly loss despite stimulus efforts

oil and gas Russia calls for new enlarged OPEC deal to tackle oil demand collapse

oil and gas Oil majors slash 2020 spending 20% after prices slump; including Saudi Aramco

oil and gas Global oil refiners to deepen output cuts as virus destroys demand

oil and gas Russia to boost April oil exports

oil and gas Oil jumps 5% to over $28 on Fed steps to support economy

oil and gas Saudi Arabia to regain its crown as the largest oil producer in the world

oil and gas S&P cuts Brent price forecast by $10 for 2020

oil and gas U.S. to send envoy to Saudi Arabia; Texas suggests oil output cuts

oil and gas ADNOC's plan for Murban benchmark launch likely delayed beyond June - sources

oil and gas Saudi Arabia, Iraq say they won't compensate for oil freight rate jump -documents

oil and gas Saudi Arabia to keep oil supply at 12.3mln bpd for coming months -ministry

oil and gas Kremlin: we would like to see higher oil price

oil and gas U.S. crude hits 18-year low as lockdowns, restrictions spread

oil and gas Goldman Sachs cuts second-quarter Brent crude oil forecast to $20/bbl

Latest News

oil and gas

Iraq asks foreign oil firms to cut budgets by 30% after oil price crash

A source at one of the foreign oil companies said: "We have received the letter on 30% budget cuts, no decision yet."

oil and gas

Oil majors slash 2020 spending 20% after prices slump; including Saudi Aramco

Cuts already announced by five major oil companies including Saudi Aramco

oil and gas

Global oil refiners to deepen output cuts as virus destroys demand

In Asia, home to over a third of the global refining capacity, India's top refiner has slashed output by up to 25%-30%

oil and gas

Oil falls as sinking demand outweighs stimulus hopes

Brent crude futures fell $1.04, or 3.75%, to $26.35 a barrel

oil and gas

Global oil demand forecast to fall by 4.9mln bpd in 2020 - Rystad

Rystad said oil demand in the month of April was forecast to fall by 16 million bpd, compared to a year earlier.

oil and gas

Russia to boost April oil exports

Plans to increase production and boost overseas supplies follow the collapse early this month of a supply-cut pact

More news

Insights

Big Oil's wipeout invites a new sort of activist

Flush with cash, companies could invest heavily in renewable projects, even if their current spend looks modest

OPEC shock pours fuel on credit-market cinders

Monday’s oil-price crash, sparked by Saudi Arabia’s decision to hike production and the rapid spread of the coronavirus, provide a test of how credit markets can cope in a crisis

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