Coronavirus impact: Fuel demand nearly halves in April as lockdown, travel curbs erode economic activity
Consumption of fuel, a proxy for oil demand, totalled 9.93 million tonnes-its lowest since 2007, government data showed on Saturday.
Crude declines 4% to $28 on oversupply concerns; lack of coordinated oil purchases for strategic storage may hit deal
The IEA on Wednesday forecast a 29 million bpd dive in April oil demand to levels not seen in 25 years and said no output cut could fully offset the near-term falls facing the market.
OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; cut unprecedented deal
OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; unprecedented deal made with oil producing nations
Oil prices jump more than 6% after biggest one-day fall since 1991; sparks hope price war by Saudi Arabia, Russia will not be sustained
Both benchmarks dropped to their lowest since February 2016 in the previous session and recorded their biggest one-day percentage declines since 17 January, 1991, when oil prices fell at the outset of the US Gulf War
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 declines as market surplus forecast counters Libya worries; US crude output expected to rise to record highs in February
US oil fell 29 cents, or 0.5%, to $58.09 a barrel, having declined 0.3% the day before.
India’s oil demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East, the International Energy Agency (IEA) said on Friday
The IEA said, "the world urgently needs to put a laser-like focus on bringing down global emissions."
Oil rises on Middle East tensions, glum demand outlook caps gains; IEA closely monitoring developments in the Strait of Hormuz
The oil market is currently well supplied, with oil production exceeding demand in the first half of 2019, pushing up global stocks by 900,000 barrels per day, the IEA said in a statement.
International Energy Agency praises Ujjwala scheme for providing free cooking gas connection to poor
Prime Minister Narendra Modi's signature Ujjwala scheme for providing free cooking gas connection to poor on Friday came in for praise from the International Energy Agency (IEA), which said it is a "major achievement" in improving the environment and health of women
The International Energy Agency (IEA) is reducing its 2019 oil demand forecast due to a slowing global economy amid a US-China trade spat, its executive director said on Thursday.
Oil prices slip as economic worries outweigh tanker tensions; OPEC meet in July may extend output curbs
Also sapping prices were the dim outlook for oil demand growth in 2019 projected by the International Energy Agency (IEA) on Friday, citing worsening prospects for global trade.
In 2018, investment in oil & gas projects rose by 4% while investment in coal sources rose only by 2%.
Iran's foreign ministry said Monday that Iran "did not and does not attach any value or credibility to the waivers given to the sanctions.
Oil falls as supply still adequate despite Iran sanctions; shipment from US may grow by 1.6 million bpd this year
US sanctions against oil exporter Iran were introduced in November 2018, but Washington allowed its largest buyers limited imports of crude for another half-year as an adjustment period.
The main drivers of this were a robust global economy & heating & cooling needs in some countries.
Oil price slips from 2019 highs as economic concerns weigh on sentiment; Venezuelan crude production dwindles
Crude oil prices this year have been propped up by supply cuts by the OPEC and non-affiliated allies such as Russia, often referred to as ‘OPEC+’.
UAE keen to invest in refining, petrochem projects, store oil in India; wants to develop strategic partnership
UAE's Abu Dhabi National Oil Co and its partner Saudi Aramco have jointly taken a 50 percent stake in the planned $44 billion refinery-cum-petrochemical complex at Ratnagiri in Maharashtra.
India will have the right over 65 percent of 6 million barrels of crude oil that ADNOC will store at the country’s maiden strategic storage at Mangalore.
High oil prices hurt consumers, affect current account deficits of many countries: IEA chief Fatih Birol
The effect of high oil prices will be compounded in Southeast Asia as demand is rising fast but production is falling, resulting in the region becoming a net importer of oil, gas and coal, Birol said.