oil

By Nick Cunningham of Oilprice.com Renewable energy has surged to capture a record share of global electricity generation, seizing more market share during the coronavirus downturn. The steep drop in electricity demand,…

Today’s refiners face an array of new challenges, the greatest of which are the need to continue making investments to produce clean-burning fuels, react to market dislocations, and adapt to the widely forecastedplateau in demand for…

By Tsvetana Paraskova for Oilprice.com U.S. demand for petroleum and liquid fuels is expected to remain below the 2019 average from before the COVID-crisis until August 2021, despite the uptick in consumption in recent weeks, the U.S.…

A group of the world’s top oil companies, including Saudi Aramco, China’s CNPC and Exxon Mobil, have for the first time set goals to cut their greenhouse gas emissions as a proportion of output, as pressure on the sector’s climate stance…

Oil prices fell on Thursday after OPEC and other producers including Russia agreed to ease record supply curbs from August, though the drop was cushioned by tightening global inventories as economic activity picks up. Brent crude LCOc1…

By Nick Cunningham of Oilprice.com A wave of new oil refineries coming online in the Middle East and China will knock others offline, ushering in a period of consolidation, according to a new report from Goldman Sachs. Global oil…

By Alex Kimani for Oilprice.com The oil and gas sector is notorious for booms and busts. The ongoing bust cycle, however, is beginning to look like the new norm with investors continuing to give the sector a wide berth. Oil and gas…

By Jen Alic for Oilprice.com After pushing General Haftar from Tripoli and key surrounding areas, Libya's Government of National Accord (GNA) thought it was game over for the general, but now it finds itself describing the latest…

The oil price rally may have come to an end, with the long-feared “second wave” of coronavirus infections having now arrived, posing renewed threats to the global economy. A new outbreak of infections in Beijing over the weekend…

WTI rose almost 90 percent last month, which is the strongest monthly increase in the U.S. benchmark price ever recorded. Naturally, the news has been cause for joy among those rooting for higher oil prices. But should it? It is true…

By Achim Steiner and Francesco La Camera on euractiv.com Governments have a choice: stimulate fossil fuel industries or invest in a more resilient recovery, powered by renewable energy.  This is a once in a generation chance, write Achim…

The April oil market crash will test the determination of majors like Shell and BP, which have recently announced goals to reach net-zero emissions by 2050, according to the International Energy Agency (IEA). “Whether or not their…

Few have a better watchtower over oil demand than Joe Gorder, chief executive officer of major U.S. refiner Valero Energy Corp. But this week Gorder didn’t even need his business insight to know that fuel consumption was starting to recover…

The rout in US oil prices gained momentum on Tuesday as concerns over storage capacity prompted fears the American crude benchmark could again plummet into negative territory. The West Texas Intermediate contract for June delivery fell 18…

The boom-to-bust oil market is experiencing one of its darkest moments in history. Oil demand is collapsing because of the coronavirus crisis. Supply is shrinking -- but not nearly fast enough. The world is literally running out of…

An oil futures contract in the U.S. made a historic plunge on Monday, with West Texas Intermediate crude for May delivery falling below zero for the first time to settle at negative $37.63 per barrel. The crash shows a stark picture of how…

Global oil prices remain on edge after Saudi Arabia and Russia postponed a meeting about a deal to cut output as the virus pandemic hits demand. The two countries have been locked in an oil price war for the last month. Traders are…

A new military ordinance adopted by the Romanian authorities caps the tariffs for electricity and thermal energy, natural gas, water supply, sanitation and fuels. This is the fourth military ordinance adopted in Romania since the president…