The small South American country has become a hot prospect for oil companies looking to produce fossil fuels while spending less.
Tag: Production
Saudi Arabia Will Cut Its Oil Production, Allowing Russia’s to Grow
Oil prices rose to levels not seen since February. The two major oil producers had been moving in lock step since an April agreement to cut output.
Natural Gas Exports Slow as Pandemic Reduces Global Demand
Businesses in the United States, Israel and other countries were planning to invest billions in export terminals. Now, those projects are being canceled or delayed.
‘I’m Just Living a Nightmare’: Oil Industry Braces for Devastation
Across the United States, companies are laying off workers, shutting down wells and preparing for a prolonged slump as oil prices tumble.
OPEC and Russia Agree to Cut Oil Production
The reductions for May and June were smaller than some investors and analysts had expected, and oil prices gave up earlier gains.
Oil Companies on Tumbling Prices: ‘Disastrous, Devastating’
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.
Coronavirus Could End China’s Decades-Long Economic Growth Streak
The weakness raises the possibility that the Chinese economy may have shrunk in the first quarter of this year. It would be the first contraction since 1976.
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 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.
Flood of Oil Is Coming, Complicating Efforts to Fight Global Warming
New supplies from Brazil, Canada, Guyana and Norway may add to a glut, posing a threat to producers in Saudi Arabia, Russia and the United States.