The use of gasoline and other fuels is dropping as Saudi Arabia and Russia increase production, sending oil prices to their lowest level in a generation.
Tag: Prices (Fares, Fees and Rates)
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.
Saudi Oil Price Cut Is a Market Shock With Wide Tremors
Oil producers in the United States and other nations brace for lower revenue, reduced investment and job losses as a global glut is compounded.
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.
Florida Lobster Got a Break on China Tariffs. Then Came Coronavirus.
China, the biggest customer, took aim at the U.S. catch as the trade war escalated. Relief came this week, but now no one there is buying.
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.
With Oil Prices Down 20%, OPEC Pushes for Stability
A meeting of oil ministers is trying to agree to cuts in output as the coronavirus outbreak slows economic activity.
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.
Canada Oil-Sands Plan Collapses Over Politics and Economics
A developer has abandoned a nine-year effort to extend mining, sparing Justin Trudeau a choice between energy interests and environmental concerns.
As Coronavirus Stifles China, Economic Logjams Build Worldwide
A tumble in commodity markets reflects the spreading ripples of an outbreak.