The reductions for May and June were smaller than some investors and analysts had expected, and oil prices gave up earlier gains.
Author: STANLEY REED
The World Is Running Out of Places to Store Its Oil
A chaotic mismatch between the supply and demand for oil is saturating the world’s ability to store it all.
How a Saudi-Russian Standoff Sent Oil Markets Into a Frenzy
Moscow refused to accept production cuts to offset the effect of the coronavirus outbreak. Now Saudi Arabia is trying an alternative: inflicting pain.
OPEC Proposes a Large Cut in Oil Output
The cartel wants to take 1.5 million barrels a day off the market as the coronavirus outbreak curbs demand. But the assent of Russia and others is needed.
OPEC Tries to Head Off Oil Glut as Coronavirus Saps Demand
A rise in oil prices on Monday suggested traders believe OPEC and Russia will agree on a new cut in oil production this week.
Saudi-Russian Alliance Is Strained as Coronavirus Saps Demand for Oil
OPEC is still trying to forge an agreement on new output cuts to sop up an oil glut.
OPEC Scrambles to React to Falling Oil Demand From China
As the coronavirus hits China’s economy, threatening fuel demand, policymakers are weighing an emergency meeting to discuss cuts to crude output.
Climate Change Takes Center Stage in Davos
With businesses under pressure to act, solutions are emerging, but not fast enough, some participants fear.
Saudi Arabia Wants Your Next Vacation
The oil-rich kingdom is betting on tourism to broaden its economy, but will visitors come?
Saudi Arabia Insisted Aramco Was Worth $2 Trillion. Now It Is.
On their fourth trading day, shares closed with a value that eluded the oil company before its initial public offering.