oil

US Energy Information Administration's weekly report shows 15 weeks of consecutive rises in crude stocks

More countries move ahead with plans to relax economic and social lockdowns

Energy demand slumped in April due to coronavirus pandemic

US output cuts, slow return of some activity in Europe lend further support

Brent crude price almost doubles since hitting 21-year low on April 22

Crude price slump may be a reason as company cannot bear high drilling cost

Italy, Spain, Nigeria, India open up construction sites, parks and libraries

Glut created over months in oil storage facilities will loom over markets

Report shows 11.35m barrels per day was highest monthly average since Jan 2019

Brent crude collapses 60% in 2020, hitting 21-year low last month

Chinese firm says its daily sales of refined oil products have climbed

Regulatory authority suggests reducing diesel and petrol prices by Rs34 and Rs21 per litre

Traders hiring expensive vessels to store gasoline or ship fuel overseas

WTI falls over $3 on concerns Cushing storage can reach full capacity

As Saudi-led coalition accused of seizing 20 ships carrying oil and food allowed to operate by UN

Brent on course for 27% loss this week, US WTI set for fall of around 14%

Prices have suffered one of their most tumultuous weeks ever

Fuel demand tumbles roughly 30% worldwide due to the coronavirus pandemic

Since the start of the year, Brent has fallen more than 65% while WTI has dropped around 75%

Glut has been building since OPEC+ failed to renew output cuts last month

Islamabad did not place any oil import orders as its storage is full

Brent crude also falls sharply as demand collapses following reduced economic activity

Gloomy quarterly earnings reports, historic plunge in prices raise spectre of deep global recession

Collapse in prices has threatened to tilt the once-booming US oil industry into bankruptcy

US crude futures contract hits lowest level since 1999

Both oil benchmarks heading for second consecutive week of losses

Both Brent, WTI contracts are poised for weekly losses of around 10%

Demand to plummet by record 9.3m barrels per day for the year

Slumping demand due to coronavirus-related lockdowns also fuels decline

Predicted plunge in US shale output provides some support

The OPEC+ group of oil producers agreed at the weekend to cut output by 9.7 million barrels per day in May

Investors await signs that the world is winning the battle against the disease

Concerns loom that production cuts may be insufficient to reduce glut

Standoff with Mexico casts doubt on efforts to bolster oil prices

Meeting is expected to seal the deal more widely with non-OPEC countries in the group

There's not enough room to even store it, says Trump of the surplus oil around the world

OPEC+ will meet later in the day with expectations growing it will agree to reduce output

As the spread of COVID-19 slashed fuel demand sending crude prices below the cost of production

Moscow, Riyadh, others need to agree baseline for new output cuts

Support comes on hopes of output cuts to shore up prices that have collapsed

Main oil producers expected to agree on output cut of 10m bpd on Thursday

OPEC+ is working on a deal to cut production by about 10% of world supply

OPEC, allies working on production cut equivalent to 10% of global supply

Rumours China will speed up its crude purchases lend further support

Slide in demand due to coronavirus outbreak has hammered market

Pandemic will lead to leaner, stronger oil industry but raise risk of shortages

Analysts say it is becoming unprofitable for many oil firms to remain active

Demand for oil products falling worldwide as more govts announce nationwide lockdowns

Hopes Washington will soon reach deal on $2tr coronavirus aid package also lends support

Crude market faces double shock of coronavirus pandemic and Saudi Arabia-Russia price feud