American Petroleum Institute
American Petroleum Institute News
Crude climbs as storage fills less rapidly than feared; demand may pick up as some European countries, US cities ease lockdowns
While storage is rapidly filling up, production cuts by US shale producers, estimated by consultants Rystad Energy at 300,000 barrels per day (bpd) for May and June, should help slow flows into tanks.
Oil prices rebound: US crude futures show modest rise from $0 a barrel, but gains capped on demand concerns
Oil prices have skidded as travel restrictions and lockdowns to contain the spread of the coronavirus curbed global fuel use, with demand down 30 percent worldwide. That has resulted in growing crude stockpiles with storage space becoming harder to find.
Crude prices inched higher on Wednesday as investors covered short positions after three sessions of losses and eyed potential supply cuts, even as fears of a coronavirus pandemic deepened
Oil jumps as slowdown in new China coronavirus cases eases fuel demand concerns; OPEC, allies recommend to increase output cuts
The US Energy Information Administration (EIA) on Tuesday cut its global oil demand growth forecast for this year by 310,000 bpd as the virus outbreak crimps oil consumption in China.
Sensex jumps over 340 points to hit record intra-day high of 40,816.38, Nifty above 12,000-mark; Reliance Industries jumps 4%
At 10.30 AM, the Sensex soared 302.90 points or 0.75 percent up at 40,772.60-intra day high
Oil prices edge lower ahead of US stockpile data; weaker economic growth offsets hopes of rise in crude demand
US crude oil stockpiles at Cushing, Oklahoma, the delivery point for WTI, have risen by about 1.5 million barrels in the week through 25 October, traders said earlier.
Crude oil hits 2019 high on OPEC cuts, concerns over demand ease; healthy data on US, China bolsters prices
The United States is considering more sanctions against Iran, whose crude oil exports have been halved by existing measures, an official said.
Crude oil rises to $67 on Saudi Arabia's plan for additional output curbs in April, Venezuelan export cut
Crude rallied this year after the OPEC and its allies including Russia, a group known as OPEC+, returned to supply cuts as of 1 January.
Oil prices rise on OPEC-led supply cuts, report of falling US crude inventories despite pressure from Donald Trump
Crude oil has been rising lately, not due to strong growth and rising demand but primarily due to a politically orchestrated cut in production from OPEC and friends, said an analyst
Petrol prices drop nearly 15% from record levels reached in October; Delhi and Chennai record most decline
However, as the Organisation of Petroleum Exporting Countries (OPEC) on Friday decided to reduce its oil supply by 1.2 million barrels per day for the first half of 2019, prices may see an up-turn leading to a reversal in India's domestic fuel prices movement.
Fuel rates have been on the decline since 18 October as a result of falling crude oil prices in the international market due to supply glut and appreciation in the rupee.
The OPEC is due to meet in Vienna on 22 June to decide whether the group and non-OPEC members including Russia will raise production to ease concerns over potential supply shortfalls from Iran and Venezuela.