Crude stocks are just 32 million barrels away from smashing the record level of 535.5 million barrels reached in March 2017
Author Archives: Staff Writer
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Most Gulf Cooperation Council IPO aspirations in doubt due to COVID-19 impact, says GlobalData
After Saudi Aramco’s initial public offering, other countries in the GCC have expressed the possibility of an IPO
Measures to contain COVID-19 outbreak weaken Indian LNG demand: GlobalData
The drop in industrial and domestic gas consumption in India has led to a drop in demand
Canada, Iraq and Venezuela lead production shut down: Rystad
Globally, at least 1.9 million barrels per day of oil production have been shut down in April
US oil price returns to above zero after hitting -$37 low
Demand for oil has crashed due to the coronavirus pandemic
ADNOC cancels $1.65 billion Dalma contracts
Dalma is part of the Ghasha ultra-sour gas concession, a major component of ADNOC’s gas self-sufficiency plan
How the OPEC+ deal will impact the oil market: IEA
The IEA shares its view on the OPEC+ deal, and how the oil market will respond in the midst of the coroanvirus outbreak
Global oil demand to hit 25-year low in April, IEA says
The IEA expects the market to start recovering in the second half of the year if restrictions are lifted
Coronavirus hits demand, oil seen down 9.6%: Rystad Energy
Rystad Energy’s estimates show that total oil demand in 2019 was approximately 99.9 million bpd, which is now projected to decline to 90.3 million bpd in 2020
Indian refiners forced to issue force majeure notices: GlobalData
The lockdown in India has resulted in a sharp drop in fuel demand, forcing refiners to operate at lower capacities