T-Room

The Best in Alternative News

Oil Could Fall Back to $20 a Barrel…

at

Oil demand is set to plunge by as much as 27 million barrels per day (mb/d) in April, a decline larger than anything that has occurred in the history of oil. The decline in demand could cause inventories to fill up, enforcing substantial curtailments by refineries and shut ins at oil wells, according to a […]

The Oil Glut Is About to Get Even Worse…

at

With only a week to go before OPEC+ countries start flooding the world’s total oil production with an estimated extra 2.5 million barrels per day (bpd) amid the Covid-19 crisis, building one of the biggest oil supply gluts the world has ever seen, UK operator INEOS has decided to postpone its scheduled maintenance for the […]

Oil Jumps As Fed Pledges “Unlimited” Cash to Bolster the Economy…

at

Oil prices jumped by 4 percent early on Tuesday after the U.S. Federal Reserve launched on Monday extensive new measures to support the economy as the coronavirus pandemic spreads. But prices slid later in the morning. At 9:34 a.m. EDT on Tuesday, WTI Crude was up 3.98 percent on the day at $24.41, and Brent […]

Trump to Fill Strategic Oil Reserves, Easing Price Pressures During Saudi-Russia Dispute…

at

President Trump has directed the Energy Department to secure 77 million barrels of American oil to fill the nation’s Strategic Petroleum Reserve, amid the ongoing global coronavirus crisis and an oil war between Russia and Saudi Arabia. The department will begin filling the reserves by soliciting up to 30 million barrels of oil and will […]

The New Saudi Plan to Send Oil Prices Lower…

at

Saudi Arabia continues to signal to the market that it is not backing down from the oil price war despite the crumbling oil prices amid coronavirus-hit demand and promises of huge extra supply next month. Oil giant Saudi Aramco will proceed with the reduction of its refinery rates in Saudi Arabia in April and May […]

Saudi’s Ramp Up Oil Production to Record Levels…

at

Saudi Arabia will once more be the world’s biggest producer of crude oil under plans announced Wednesday to further increase the Kingdom’s output to a new record level. Prince Abdul Aziz bin Salman, the Saudi energy minister, told Saudi Aramco to prepare to increase its maximum sustainable capacity — the limit to the crude it […]

The Reason Why Russia Refused to Cut Oil Production…

at

OPEC asked Russia to cut an additional 300,000 bpd in oil production at last week’s meeting in Vienna, but according to Russia’s Deputy Energy Minister, this would’ve been ‘technically challenging.’ OPEC asked Russia to add another 300,000 bpd to its production cut quota art the Vienna meeting last week, but it would have been technically […]

Saudi Aramco to Increase Oil Output 12.3M Barrels Per Day Starting April…

at

Saudi Aramco said Tuesday that the company would increase its crude output to 12.3 million barrels per day in April. The new production level will be ”an increase of 300,000 barrels per day over the company’s maximum sustained capacity of 12 MMBD,” Aramco said in a statement to the Saudi stock exchange. The Company has […]

Can Saudi Arabia Survive the Oil Price War It Started?…

at

As the world watches an oil price war unfold between Russia, OPEC, and US shale, another major crisis is looming in the Middle East. Saudi Arabia is facing multiple existential threats as a renewed oil price slump threatens to not only hit the country’s revenues and economic diversification programs but also the already fragile position […]

Any publication posted at The T-Room and/or opinions expressed therein do not necessarily reflect the views of The T-Room. Such publications and all information within the publications (e.g. titles, dates, statistics, conclusions, sources, opinions, etc) are solely the responsibility of the author of the article, not The T-Room.