Global petrol prices news digest

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28-Sep-2020

World: Venezuela and Iran continue to defy U.S. oil sanctions with new shipments
28-Sep-2020 by World Oil
The first vessel in an Iranian convoy of ships bringing desperately needed fuel arrived in Venezuela, demonstrating both nations’ determination to undermine U.S. efforts to isolate the governments in Tehran and Caracas. more information
World: Oil prices finish higher amid stimulus optimism
28-Sep-2020 by RigZone
Crude oil rose to the highest in more than a week in New York and London on optimism that a deal could still be struck for a fresh round of stimulus spending before the election. more information
World: Gasoline suspected to be for Venezuela arrives in U.S. port after private sale
28-Sep-2020 by Reuters
A vessel carrying some 100,000 barrels of gasoline that a shipping company suspected was destined for fuel-starved Venezuela arrived at a U.S. port on Monday, Refinitiv Eikon data showed, after a U.S. court approved a private sale of the cargo. more information

22-Sep-2020

Saudi Arabia: Gasoline stocks fall to multi-year lows
22-Sep-2020 by Argus Media
Saudi Arabia's gasoline stocks fell to a more than a six-year low in July as a push to keep refinery run rates low coincided with an upswing in domestic gasoline demand with the easing of Covid-19-related restrictions on movement. more information
World: Crude oil prices drop again after losing 4% on Monday
22-Sep-2020 by Nairametrics
Crude oil prices drifted lower at the later part of Asia’s trading session on Tuesday, as Tropical Storm Beta in the Gulf of Mexico weakened. more information
China: The country amends customs supervision on crude oil imports to improve efficiency
22-Sep-2020 by Reuters
Chinese customs said on Tuesday it will amend the way it supervises crude oil imports as part of a broader effort to boost efficiency, allowing cargoes to clear customs before quality inspections have been finalised. more information
USA: Low demand continues to pull national average lower
22-Sep-2020 by AAA News
The latest Energy Information Administration (EIA) report measures demand at 8.48 million b/d, which is a slight uptick from the previous week’s 8.39 million b/d. However, the small increase — likely due to holiday road trips — is still 461,000 b/d lower than last year at this time. more information

21-Sep-2020

World: How are global crude oil giants responding to the New Normal?
21-Sep-2020 by Kalkine Media
Saudi Arabia, the world’s largest crude oil producer, has been supplying crude oil at a price lower than international prices to China in order to capture higher market share. more information
India: The country bought crude oil at $19 a barrel to fill its strategic reserves
21-Sep-2020 by LiveMint
Country saved $685.11 million by leveraging depressed prices and lack of demand on account of the coronavirus pandemic, to fill its existing storage capacity of 5.3 million tonnes. more information
India: Gasoline sales revive in positive sign for oil demand
21-Sep-2020 by Bloomberg
Indian gasoline sales rose for the first time since the nation imposed one of the world’s strictest virus lockdowns in late March, a positive sign for global oil markets amid a stalling energy demand recovery. more information
China: Why the country is suddenly buying record amounts of American crude oil
21-Sep-2020 by Forbes
Relations between the United States and China may be near all-time lows, but the trading of energy commodities between the two powers remains active—at least for crude oil. more information

17-Sep-2020

North Macedonia opposition block roads over electricity price hike
17-Sep-2020 by Balkaninsight.com
The right-wing party launched the protests on Wednesday with a march of several thousand supporters in Skopje, amid ongoing parallel protests for the same purpose organised by various workers’ associations and unions that have been regularly marching in the capital and other towns since the regulatory commission increased the electricity price for households by 7.4 percent on July 31. more information

08-Sep-2020

World: Fragile demand for gasoline, keeps pressure on crude oil prices
08-Sep-2020 by Yahoo! Finance
Crude oil bears increased their selling pressures as oil traders reacted to Saudi’s massive price cuts for supply to Asia. more information
Asia: Production issues bolster gasoline refining margin
08-Sep-2020 by Argus Media
The Asian gasoline refining margin rose to about a two-week high against a series of issues affecting gasoline production units in South Korea and Thailand. more information
USA: Trump signs order extending ban on new offshore drilling sites off Florida's Atlantic coast
08-Sep-2020 by FOX Business
President Trump on Tuesday signed an order extending the moratorium on offshore drilling on Florida’s Gulf and Atlantic coasts, as well as off the coasts of Georgia and South Carolina. more information

04-Sep-2020

Malaysia: TNB expects slightly lower electricity tariff next year
04-Sep-2020 by www.thestar.com.my
TNB projects slightly lower electricity tariff next year following the reduction in the cost of production of coal and gas currently. more information

03-Sep-2020

New electricity tariffs in Nigeria 2020 hike for kilowatt unit of energy frustrate people from Ikeja
03-Sep-2020 by www.bbc.com
Nigerian Electricity Regulatory Commission (NERC) suddenly increase light bill AKA electricity tariff from 30.23 Naira for one kwh (kilowatt unit of energy per hour) to as much as 62.33 Naira per kwh. more information

31-Aug-2020

Saudi Arabia: Saudi Aramco discovers two oil, gas fields in North of Kingdom
31-Aug-2020 by Bloomberg
Saudi Aramco discovered two oil and gas fields in northern parts of Saudi Arabia, the kingdom’s official news agency reported, citing Energy Minister Prince Abdulaziz bin Salman. more information
USA: Changing demand for petroleum products has led to operational changes at U.S. refineries
31-Aug-2020 by U.S. Energy Information Administration
Demand for transportation fuels in the United States has fallen since mid-March because of the spread of coronavirus and efforts to mitigate it. Demand for motor gasoline and jet fuel in particular has fallen to its lowest levels in years. In response, U.S. refineries reduced their operations to adjust to changing levels of overall demand for petroleum products and made other changes that resulted in proportionately less production of motor gasoline and jet fuel and more production of distillate fuel oil. more information
World: Oil trades near $43 with virus back in focus after storm fades
31-Aug-2020 by Yahoo! Finance
Oil traded near $43 a barrel in New York with focus returning to the fragile demand recovery after the hurricane threat eased. Attention shifted once again to the outbreak and the struggles by many major economies to contain the virus, with India recording its biggest daily spike in cases and New York State reporting a surge in infections. more information
Angola: The country aims to ramp up oil production
31-Aug-2020 by OilPrice.com
Angola, Africa’s second-largest oil producer after Nigeria, will need foreign and government investments to discover up to 57 billion barrels of crude oil by 2025, according to a new energy strategy reported by state news agency ANGOP. more information

25-Aug-2020

Historically low electricity prices in Norway
25-Aug-2020 by e24.no
Especially households with a spot price agreement paid little for electricity with an average price in the second quarter of 12.3 øre for each kilowatt hour excluding taxes and fees. Not since 2007 have the prices of electricity at spot prices been lower. more information
World: Crude oil prices mixed Tuesday as traders consider effects of twin tropical storms on Gulf of
25-Aug-2020 by FOX Business
- Crude oil prices were mixed on Tuesday as traders weighed massive production cuts in the U.S. Gulf Coast from Tropical Storms Marco and Laura against rising coronavirus cases in Asia and Europe. more information

24-Aug-2020

Canada: Gasoline prices to rise across the country
24-Aug-2020 by BNN Bloomberg
Roger McKnight, chief petroleum analyst at En-Pro International, joins BNN for a closer look at why Canadian consumers can expect to pay more at the gas pumps in most cities. more information
Azerbaijan: BP says it has no plans to scale down oil and gas in the country
24-Aug-2020 by Economic Times
British oil major BP has no plans to scale down its oil and gas business in Azerbaijan amid global plans to rebalance its portfolio towards renewables, Bakhtiyar Aslanbayli, BP's vice president for Azerbaijan, Georgia and Turkey, said. more information
Argentina: The country authorizes first hike in fuel prices in nine months
24-Aug-2020 by S&P Global Platts
Argentina's government authorized YPF, the country's biggest refiner, to hike diesel and gasoline pump prices by an average of 4.5% nationwide effective Aug. 19, the first increase in nine months, a move that is expected to help the state-backed company revive oil production after a slump during a coronavirus-induced lockdown of the economy. more information
Energy consumption drops 7.9% in Central America (in Spanish)
24-Aug-2020 by www.eleconomista.net
The reduction of industrial activity and trade during the quarantine periods in the countries of the region led to a decrease in consumption, impacting on the reduction of energy transactions in the Electricity Market, "this caused the regional transmission network , a relief in its transmission capacity and created conditions for El Salvador. more information

21-Aug-2020

Guatemala: These will be the electricity rates that will be in force as of August 1
21-Aug-2020 by www.prensalibre.com
The National Electric Energy Commission (CNEE) reported that the new rates remain stable, without changes in Energuate and with a decrease of Q0.02 per kilowatt hour for the users of Empresa Eléctrica de Guatemala, SA (EEGSA). more information

20-Aug-2020

Why Nicaragua Pays the Most Expensive Electricity in Central America?
20-Aug-2020 by Confidencial.com.ni
As of 2015, Nicaragua became the country that pays the most expensive electricity in the Central American region, due to a combination of decisions and regulations that distorted this activity, to the detriment of consumers. more information

18-Aug-2020

World: US crude flows to China poised to surge
18-Aug-2020 by Argus Media
The pace of US crude exports to China is quickening as state-controlled Sinopec begins filling new storage capacity in central China. more information
Australia: Electricity prices plunge to lowest in five years
18-Aug-2020 by www.afr.com
Wholesale electricity prices traded at the lowest in five years as the coronavirus lockdown crimped energy demand, especially from businesses in NSW and Queensland. more information
Brazil: Petrobras launches development of major deepwater oil field
18-Aug-2020 by OilPrice.com
Brazil’s state oil major Petrobras has launched a new phase in the development of the first deepwater oil project since the start of the crisis, at the Mero field in the Santos Basin. more information
World: Oil slips as gasoline stocks rise
18-Aug-2020 by The Bull
Oil gave ground in early Asia after a report showed a disconcerting increase in gasoline stocks as OPEC+ returns more barrels to market in August. more information

17-Aug-2020

Delayed tariff adjustments for Karachi create serious challenges
17-Aug-2020 by Nation.com.pk
In December 2019, the National Electric Power Regulatory Authority (NEPRA) approved a PKR 4.88 increase in the tariff for Karachi consumers to account for unclaimed fuel price variations, power purchase cost and other adjustments. more information
World: Short-term energy outlook
17-Aug-2020 by U.S. Energy Information Administration
The August Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because mitigation and reopening efforts related to the 2019 novel coronavirus disease (COVID-19) continue to evolve. Reduced economic activity related to the COVID-19 pandemic has caused changes in energy demand and supply patterns in 2020. more information
World: Oil companies wonder if it’s worth looking for oil anymore
17-Aug-2020 by Bloomberg
A few dots near the bottom corner of the world map in the southern Atlantic, the Falkland Islands were once at the forefront of a new era for the oil industry as companies scoured the planet for resources. Yet a decade after the discovery of as much as 1.7 billion barrels of crude in surrounding waters, the British overseas territory known for sheep rearing and tension with Argentina looks as remote as ever. more information
Mexico: The country could draw more gasoline, diesel
17-Aug-2020 by Argus Media
Mexico's gasoline and diesel imports may continue to rise beyond the 22pc increase seen in mid-July, supported by lower freight costs and domestic refinery problems, initial data indicates. more information

14-Aug-2020

In Haiti, Electricity Is A Luxury
14-Aug-2020 by Haitiantimes.com
Low energy production, mismanagement of EDH, dependence of the ANARSE on the United Nations, and unfair kilowatt-hour cost policy are one of the main causes of the country’s economic degradation. more information

13-Aug-2020

Delhi’s revised power tariffs likely to be announced by month-end
13-Aug-2020 by www.hindustantimes.com
As keeping power tariffs low has been a key poll promise of the Aam Aadmi Party (AAP) government, electricity charges have not been hiked in the capital in the past four years. Senior government officials said an increase in tariff is highly unlikely. more information

11-Aug-2020

Chile: Government announces discount in electricity rate for heating in 10 communes
11-Aug-2020 by www.latercera.com
Regarding how much the discount would be on electricity bills, President Sebastián Piñera estimated that it would be around 20%. more information

10-Aug-2020

Norway: The country cuts September crude shipments to help limit global supply
10-Aug-2020 by World Oil
Norway may not officially be part of the OPEC+ alliance to curb oil supply in the face of the coronavirus pandemic, but next month it looks like the Scandinavian country will do its bit toward helping the producer alliance to avert a global glut of crude. more information
World: Oil rises after Saudi Aramco sees Asia demand nearing full rebound
10-Aug-2020 by Market Insider
Crude oil futures rose on Monday after Saudi Aramco issued a bullish forecast for market demand. The oil producer's CEO said Sunday he sees Asian demand nearing pre-pandemic highs as economies reopen. more information
Comparison of electricity prices in Austria 3rd quarter 2020 (in German)
10-Aug-2020 by www.geldmarie.at
Whether it is the economic downturn, low prices for fossil fuels and good yields from renewables, electricity prices have been holding back for many months in the wholesale sector. more information
World: OPEC+ oil cut compliance dips in July, ahead of quota easing
10-Aug-2020 by S&P Global Platts
OPEC+ production discipline slipped in July, as Gulf members led by Saudi Arabia ended their voluntary extra output cuts, while some countries that have struggled to adhere to their quotas continued to pump above their caps, the latest S&P Global Platts survey found. more information

07-Aug-2020

France: Electricity bill increased by 1.55% in August
07-Aug-2020 by www.lenergietoutcompris.fr
Electricity prices had remained relatively stable since February 2020, after a 2.4% increase in EDF regulated tariffs. From this August, however, they will start to rise again. more information

06-Aug-2020

Buenos Aires government extends the electricity rate freeze until the end of the year
06-Aug-2020 by www.telam.com.ar
This is an addendum that suspends the rate increases that were in force until June 30 for an additional period of 180 calendar days. more information
Lebanon's electricity problems are poised to become much worse
06-Aug-2020 by Aljazeera.com
The government has fallen behind on payments to a Turkish company responsible for a quarter of the country's electricity-generation capacity. It's also struggling to access enough foreign exchange to purchase imports of fuel for state-owned power plants. Together, these stumbles could lead to more outages and pain for businesses already reeling from 90% inflation. more information

05-Aug-2020

Australia: It's time to cash in on lower wholesale electricity prices
05-Aug-2020 by www.smh.com.au
Wholesale prices, which make up about one-third of your electricity bill, are down 48 per cent to 68 per cent on what they were a year ago. more information

04-Aug-2020

South Africa: Electricity prices are going up by 15% next year
04-Aug-2020 by www.businessinsider.co.za
The immediate result is that, in April next year, the average standard Eskom tariff approved by Nersa will go up from 116.72 c/kWH to 128.24 c/kWh – an increase of 9.8% - as the first R23 billion is added back. more information

03-Aug-2020

World: 7-Eleven owner to buy Marathon gas stations for $21 billion
03-Aug-2020 by Yahoo! Finance
Seven & i Holdings Co., the world’s largest convenience-store franchiser, agreed to buy Marathon Petroleum Corp.’s Speedway gas stations for $21 billion, betting that an expanded U.S. footprint will deliver growth amid the uncertainty of the pandemic. more information
World:Oil advances with signs of economic recovery buoying demand view
03-Aug-2020 by Bloomberg
Oil edged up in tandem with U.S. equities with economic data from Europe to Asia signaling a flicker of life in languishing demand. more information
USA: Why energy demand is plummeting in the U.S.?
03-Aug-2020 by OilPrice.com
All the way back in April (which may as well be years ago at the rate that the news cycle is moving these days) Oilprice reported that in the throes of the novel coronavirus pandemic, which had relatively recently washed over the United States, had caused the nation’s energy consumption to fall to a stunning 16-year low. more information
China:The country under pressure to export more refined products after Q2 oil shopping spree
03-Aug-2020 by S&P Global Platts
While the rest of the world is still on a relatively slow recovery phase, China's crude imports and throughput levels are hitting record highs. Its GDP has flipped back to positive territory with a 3.2% growth the second quarter, from a 6.9% decline in the first quarter. more information

28-Jul-2020

China: Record crude oil storage flies under the radar
28-Jul-2020 by Reuters
China’s refineries imported and processed record amounts of crude oil in June, and while these are undoubtedly bullish economic signals, it’s worth noting that flows into storage tanks were also likely at an all-time high. more information
UAE: Fuel prices to remain unchanged in August
28-Jul-2020 by Gulf News
Fuel prices across the UAE will remain unchanged in the month of August. With this decision from the UAE Fuel Price Follow-up Committee, this will be the fourth consecutive month that fuel prices have remained stable in the country. more information
South Africa: Here’s what you can expect to pay for petrol in August
28-Jul-2020 by BusinessTech
South African motorists should expect another petrol price hike next week, with month-end data from the Central Energy Fund showing an under-recovery in the daily make up of the basic fuel price. more information
USA: Fuel prices decrease as demand remains low
28-Jul-2020 by CStore Decisions
As COVID-19 case numbers surpass 4 million, demand for gasoline is weakening across the country, reports AAA. The latest Energy Information Administration (EIA) demand reading measures at 8.5 million b/d, which is about 11% less than a year ago. more information

27-Jul-2020

Kuwait: Kuwait Petroleum keen on preserving public funds, CEO says
27-Jul-2020 by Arab News
Kuwait Petroleum Corporation (KPC) wants to preserve public funds to counter the economic consequences of the coronavirus pandemic, the state-owned firm’s CEO said, after it started to implement austerity measures and reduce expenses. more information
OPEC Commentary: One equal temper of heroic hearts
27-Jul-2020 by Organization of the Petroleum Exporting Countries
Fortunately, the story of OPEC has shown that the national, individual perspective is always best served by working towards the common good. The individual and the collective synchronize in harmony. It chimes with the saying in the Irish language: Ní neart go cur le chéile — there is no strength without unity. more information
World: How COVID-19 helped to simplify the transition to low-sulphur diesel in the shipping business
27-Jul-2020 by Hellenic Shipping News
Any crisis, whether in energy or any other sector, inevitably creates unanticipated costs and benefits. The crisis created by the COVID-19 pandemic has produced all manner of unforeseen consequences in the energy and environment space, both in the U.S. and globally. more information
Pakistan: Government preparing long-term LPG policy, petroleum levy set at Rs 5.5b for 2020-21
27-Jul-2020 by Pakistan Today
The government is preparing a long-term Liquefied Petroleum Gas (LPG) policy aimed at increasing the commodity production, stabilising its price and ensuring uninterrupted supply at affordable prices across the country, especially during the peak winter season, a national daily reported on Sunday. more information

14-Jul-2020

USA: California gasoline demand falling with next lockdown
14-Jul-2020 by RigZone
Gasoline demand in America’s biggest fuel market is headed toward a decline with California imposing a new round of business closures to fight a spike in coronavirus cases. more information
Venezuela: The country restarts gasoline output at only operating refinery
14-Jul-2020 by OilPrice.com
Venezuela’s state oil firm PDVSA has resumed gasoline production at the only operating refinery in the country home to the world’s largest oil reserves that is experiencing severe gasoline shortages, sources with knowledge of the matter told Reuters. more information
Egypt: The country imposes conditions to convert vehicles from gasoline to natural gas
14-Jul-2020 by Egypt Independent
Vehicles in Egypt set to be converted from gasoline to natural gas must be no older than 20 years and should have a motor capacity of at least 75 percent, said Minister of Trade and Industry Nevine Gamei. more information
Saudi Arabia: Saudis angered as petrol prices rise 34%
14-Jul-2020 by Middle East Monitor
Saudi social media users rejected state-owned oil company Aramco’s decision to increase petrol and other fuel prices by 34 per cent this month. more information

13-Jul-2020

World: Oil prices end lower with OPEC+ seen preparing to ease production curbs
13-Jul-2020 by Market Watch
Oil futures ended lower on Monday as major oil-producing countries were said to consider easing output curbs as global crude demand has seen improvement as some economies have reopened from closures due to the coronavirus pandemic. more information
World: OPEC meeting has oil investors worried
13-Jul-2020 by Barron's
OPEC+ and its allies may be ready to start pumping more crude, and that prospect is sending shivers through oil markets. more information
World: OPEC crude oil production drops to its lowest in nearly 30 years
13-Jul-2020 by Nairametrics
The over-performance by Saudi Arabia that has cut its crude oil production by 1 million barrels per day (more than mandated), has helped in reducing OPEC crude oil production to its lowest point in nearly 30 years, thus sending crude oil price soaring to about $42 support levels, and dampening growing concerns of COVID-19 resurgence. more information
World: Ecuador seeking new oil-backed loan from China
13-Jul-2020 by Argus Media
Ecuador's austerity-minded government is in discussions with China to secure a new loan backed by oil sales. more information

06-Jul-2020

Ukraine: Government not to raise electricity tariffs for population
06-Jul-2020 by 112.international
According to Buslavets, without raising social protection level, as well as without raising the living wage and pensions, it is inappropriate to talk about raising the tariff for the population today. more information
Nigeria: Country analysis brief
06-Jul-2020 by U.S. Energy Information Administration
Nigeria is the largest oil producer in Africa. It holds the largest natural gas reserves on the continent and was the world’s fifth–largest exporter of liquefied natural gas (LNG) in 2018. more information

01-Jul-2020

USA: Gasoline demand more than ‘halfway’ back from pandemic lows
01-Jul-2020 by Bulk Transporter
Gasoline consumption in the United States recently hit a big milestone. It is now more than halfway back to pre-COVID-19 levels as motorists get back on the road amid at least a partial recovery of the US economy, according to OPIS, an IHS Markit company. more information
Israel: Gasoline prices to rise 4.5% Tuesday night
01-Jul-2020 by Globes
The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will rise by NIS 0.23 to NIS 5.44 per liter on Tuesday night, July 1. more information
USA: U.S. court to auction gasoline allegedly destined for Venezuela
01-Jul-2020 by Reuters
A federal court in Houston on Wednesday was expected to auction 100,000 barrels of gasoline that a shipping company suspected a Venezuelan shipping magnate close to the socialist government in Caracas planned to send to the country. more information
Russia: Gasoline demand recovering but lower than 2019
01-Jul-2020 by Argus Media
Gasoline demand in Russia will continue to recover next month as Covid-19 restrictions ease, but it will remain below last year's levels, according to Russian energy ministry estimates. more information

30-Jun-2020

Gas tariffs reduced from July 1 in Latvia
30-Jun-2020 by eng.lsm.lv
These tariffs would be the lowest in 12 years - since October 2008. Tariffs are reduced in accordance with global price declines. more information
USA: Gas prices rise, but could slow soon
30-Jun-2020 by FOX Business
The price at the pump for regular-grade gasoline increased by 6 cents over the past two weeks, as states continue reopening efforts. more information
World: Aramco chief optimistic about second-half of 2020 as China gasoline and diesel demand acceler
30-Jun-2020 by Arab News
Saudi Aramco CEO Amin Nasser expects oil demand to rebound in the second-half of the year as more countries ease travel restrictions. more information
China: The country increases retail prices of gasoil and gasoline
30-Jun-2020 by S&P Global Platts
China increased retail prices for gasoil and gasoline on June 29, the first change in prices since March 18, state planner National Development and Reform Commission said. more information

29-Jun-2020

World: Oil prices extend losses as coronavirus spike cools demand hopes
29-Jun-2020 by Reuters
Oil prices slid for a second straight session on Monday as coronavirus cases rose in the United States and other places, leading some countries to resume partial lockdowns that could hurt fuel demand. more information
Japan falls as global coronavirus death toll crosses 500,000; oil prices decline
29-Jun-2020 by CNBC
Oil prices fell in the afternoon of Asian trading hours, with international benchmark Brent crude futures dropping 1.37% to $40.46 per barrel. U.S. crude futures also slipped 1.33% to $37.98 per barrel. more information
The world’s top 10 oil producers and consumers
29-Jun-2020 by Forbes
Following last week’s release of the BP Statistical Review of World Energy 2020, I began to review and analyze the data. Today I take a deeper dive into the numbers on petroleum. more information
World: Are crude production models ignoring rig count and oil price realities?
29-Jun-2020 by WorldOil
World Oil Editor-in-Chief Kurt Abraham and Digital Editor Cameron Wallace review the Dallas Fed's recent oil production survey, and discover a "split personality" between production estimate and pricing models that could lead to an oil supply shock in 2021. more information

25-Jun-2020

Nepal: Electricity regulatory body releases new power tariff rates
25-Jun-2020 by Thehimalayantimes.com
Nepal Electricity Regulatory Commission has released a new power tariff rate, according to which electricity will be provided free of cost to domestic customers with five ampere meters who consume between one and 10 units per month. more information

22-Jun-2020

World: Oil ends higher as long-term demand outlook improves
22-Jun-2020 by MarketWatch
Oil prices finished higher Monday, marking the expiration of the July contract for U.S. benchmark crude futures, as the improvement in the longer-term outlook prompted one major investment bank to raise its price targets for the commodity. more information
World: Everything you need to know about gasoline
22-Jun-2020 by Top Speed
Gasoline is one of the driving forces that make the world go round. It’s been so for the past century, and until we will all be driving around in electric cars and internal combustion engines will live on in museums, gasoline is going to be an integral part of the car world and the way we get from point A to point B. more information
The oil countries suffering most from the oil price crash
22-Jun-2020 by OilPrice.com
Oil producing nations with a high average fiscal break-even, but also oil traders have been caught off guard by the plunge in oil prices this Spring. more information
USA: Motor gasoline accounted for almost half petroleum consumption in 2019
22-Jun-2020 by U.S. Energy Information Administration
Petroleum was the largest primary source of energy consumed in the United States in 2019, accounting for 37% of total energy consumed. In 2019, motor gasoline accounted for about 45% of petroleum products consumed in the United States. more information

17-Jun-2020

USA: Fuel demand increases steadily with pump prices
17-Jun-2020 by CStore Decisions
The national average is $2.10 — seven cents more on the week, 24 cents more on the month, but 59 cents cheaper on the year. more information
India: In 11 days, fuel rates went up by ₹6 a litre
17-Jun-2020 by LiveMint
With the demand for fuel gradually returning to pre-Covid levels due to easing of lockdown restrictions, petrol and diesel prices were hiked for the 11th consecutive day today. more information
World: Oil giant Saudi Aramco completes purchase of $70B stake in SABIC
17-Jun-2020 by TRT World
Saudi Aramco said on Wednesday it has completed the acquisition of a 70 percent stake in chemical giant SABIC for $69.1 billion, boosting it as one of the world's largest producers. more information
UK: Inflation rate at fresh four-year low as fuel prices slump
17-Jun-2020 by BBC News
A record fall in fuel prices, including petrol, pushed the UK's inflation rate down to 0.5% in May, the second full month of the coronavirus lockdown. more information

16-Jun-2020

South Africa: Brace yourselves, a monster increase is coming
16-Jun-2020 by The South African
More misery on the forecourt for the motorists of Mzansi. The official petrol price is set to skyrocket in July, as the demand for oil takes off once more. more information
Kenya: New tax to raise beer, fuel, motorbike prices
16-Jun-2020 by Business Daily
The prices of a wide range of goods including fuel, bottled water, juice and beer will increase from July 1 following imposition of new taxes on the products, which will be a blow to consumers already hurt by job cuts and unpaid leave in the wake of the Covid-19 pandemic. more information
World: Mexico is prepared to sell Venezuelan oil
16-Jun-2020 by OilPrice.com
Mexico is ready to sell crude oil to Venezuela should it need it, President Andres Manuel Lopez Obrador said, as quoted by Latin American media during his regular Monday press conference. more information
World: UAE sees oil prices returning to ‘normal’ on OPEC+ deal
16-Jun-2020 by World Oil
Oil-production limits adopted by a group of major crude suppliers will soon bring prices back to “normal,” according to the energy minister of the United Arab Emirates. more information

15-Jun-2020

Taiwan: Fuel prices to rise for seventh straight week
15-Jun-2020 by Focus Taiwan
Taiwan's two major fuel suppliers announced price hikes Sunday for the seventh consecutive week, pushing domestic fuel prices to their highest levels in three months. more information
India: No hike in Kerala electricity tariff till March next year
15-Jun-2020 by Manoramaonline.com
There is very little possibility of a tariff hike next year as Assembly elections are likely to be hiked. more information
Croatia: Fuel prices go up – again
15-Jun-2020 by The Dubrovnik Times
Fuel prices in Croatia have risen again since midnight - yesterday it was announced that diesel fuel will go up by five, and petrol by six and a half kuna for a full 50-liter tank – Novi list reports. more information
India: Here's why petrol and diesel prices are increasing during Unlock 1.0
15-Jun-2020 by Times Drive
OMCs have been revising fuel prices daily since June 7 to regain the losses incurred during 82 days of the lockdown. In the last 10 days, petrol and diesel prices have increased by ₹5.47 and ₹5.8, respectively. more information

10-Jun-2020

Kuwait: No expatriates will be hired in Kuwait Petroleum
10-Jun-2020 by Gulf Business
Kuwait has decided to ban the employment of expatriates in state-owned Kuwait Petroleum Corporation (KPC) and its subsidiaries for the year 2020-21. more information
India: Fuel demand nearly doubles in May as lockdowns ease
10-Jun-2020 by The Economic Times
Fuel consumption, a proxy for oil demand in Asia's third biggest economy, totalled 14.65 million tonnes in May, 47.4% higher than in April but still 23.3% lower than a year earlier, the data from the Petroleum Planning and Analysis Cell (PPAC) of the ministry showed. more information
Switzerland: Petrol prices to increase by up to 12 cents per litre
10-Jun-2020 by The Local
Swiss parliament will impose new levies on petrol prices, increasing the cost by up to 12 cents per litre. more information
Nigeria: The country to reach OPEC+ compliance by mid-July
10-Jun-2020 by Reuters
Nigeria did not fully comply with a pact by oil producers to rein in output to balance markets but will make additional cuts to make up for the lapse by mid-July, the head of the Nigerian National Petroleum Corporation Mele Kyari said on Wednesday. more information

09-Jun-2020

Venezuela: New gasoline system fails to end epic lines
09-Jun-2020 by Reuters
Hundreds of Venezuelans queued up in miles-long lines to try to fill their cars with subsidized gasoline over the weekend, a week after President Nicolas Maduro launched a new dual-price system aimed at easing an acute fuel shortage. more information
Barbados: Lowest gas prices at the pump for the year 2020
09-Jun-2020 by Loop
Gasoline prices in Barbados are below BBD $3 (USD $1.50). From 12 am June 8 the retail prices of gasoline, diesel and kerosene decreased. more information
USA: Gas prices rise back over $2
09-Jun-2020 by Fox News
The national average price of gasoline hit $2.003 per gallon on Friday, according to AAA, after spending two months below the mark due to a combination of reduced driving and a production glut. more information
Australia: The end of $1 a litre?
09-Jun-2020 by The Bull
According to the Australian Institute of Petroleum, the national average price of unleaded petrol rose by 1.9 cents last week to 110.5 cents a litre. more information

08-Jun-2020

Libya: The country's largest oilfield resumes production
08-Jun-2020 by Middle East Monitor
Libya’s El-Sharara oilfield, the country’s largest, resumed production on Sunday, the National Oil Corporation (NOC) said. more information
Saudi Arabia: Saudis raise July Arab light crude official selling price to Asia by $6.10
08-Jun-2020 by Reuters
Saudi Arabia’s state oil giant Aramco has raised the July price for its Arab light crude to Asia to plus $0.20 a barrel, up $6.10 from June, according to a document seen by Reuters on Sunday. more information
OPEC: Organization and allies agree to extend record oil production cut
08-Jun-2020 by CNBC
OPEC and its oil-producing allies agreed on Saturday to extend the group’s historic production cut for an additional month in an ongoing effort to balance the global oil market. The agreement was finalized during the group’s video-conference meeting. more information
OPEC: Iraq renews its full commitment to OPEC+ decisions
08-Jun-2020 by Organization of the Petroleum Exporting Countries
Iraq has renewed its full commitment to the oil production adjustments decisions reached in April 2020 by OPEC Members Countries and non-OPEC oil producing countries participating in the Declaration of Cooperation, noting the importance of team spirit and joint efforts to achieve stability and balance in the global oil market. more information
Mozambique: EDM cuts electricity tariffs as part of COVID-19 relief
08-Jun-2020 by www.esi-africa.com
Two categories of electricity consumers will see their electricity bills fall, these include households who pay the “social tariff” will benefit from a 50% price cut. The second, and much more significant, cut is a 10% reduction in the general tariff, which will benefit businesses. more information

05-Jun-2020

Germany: The country to require EV chargers at gasoline stations in stimulus plan
05-Jun-2020 by Automotive News Europe
The German government said it will require gasoline stations to offer electric car charging to help ease buyers’ concerns about range and support demand for EVs as part of its 130 billion-euro ($146 billion) economic recovery plan. more information
Mexican companies face higher electricity charges
05-Jun-2020 by Financial Times
Mexico’s electricity regulator this week approved an increase in transmission tariffs for companies that generate their own electricity under so-called self-supply contracts dating from before 2014 — the cost of hooking up the power they produce for their own use to the national grid. more information
Venezuela: The country faces gasoline shortage while in quarantine
05-Jun-2020 by Global Comment
The long queues for gasoline in Venezuela are suffocating and humiliating. There, vans have mattresses in the back to sleep on at night, people bring beach chairs to sit in the street, pets lie down at the feet of their owners, some people play dominoes and others use their car door to cover themselves while urinating in the street. more information

04-Jun-2020

India: Electricity to Get Cheaper For Domestic Consumers in Punjab
04-Jun-2020 by www.india.com
In its new tariff order for 2020-21, the Punjab State Electricity Regulatory Commission gave this relief in the wake of hardships faced by the poor section due to the coronavirus crisis. more information

03-Jun-2020

Venezuela: The country to seek more gasoline from Iran
03-Jun-2020 by Argus Media
Venezuela is seeking to consolidate bilateral ties with fellow US-sanctioned Iran with an eye toward importing more desperately needed gasoline and additives. more information
World: Easing lockdown leads to increased gasoline and distillates reserves
03-Jun-2020 by Offshore Technology
An analyst team from Exante, the international investment services company, has shared its outlook that the collapsing oil prices and quarantine softening are prompting an increase in oil refinement levels, which leads to rich reserves of gasoline and distillates. more information
Venezuela: President Maduro vows to make historic Iran visit
03-Jun-2020 by Middle East Eye
Venezuelan President Nicolas Maduro announced yesterday his intention to make an official visit to Iran soon to sign a number of cooperation agreements, including those related to energy and defence. more information

02-Jun-2020

World: Ford doesn't think low gasoline prices will annihilate the electric car segment
02-Jun-2020 by Yahoo! News
On average, American motorists are paying $1.97 for a gallon of regular unleaded. Filling up a gas guzzler is stunningly affordable in 2020, but Ford doesn't think low gas prices will decimate demand for electric cars. more information
World: More than 280,000 tonnes of gasoline stored on Singapore, Malaysia waters
02-Jun-2020 by Economic Times
Oil demand across the world has slumped as governments restricted people movements to curb the spread of the coronavirus, prompting sellers and traders to store all types of excess oil onboard ships more information
Video: Venezuela increases petrol prices, ends fuel subsidy
02-Jun-2020 by AlJazeera
Oil-rich Venezuela has just introduced a new fuel pricing system that ends decades of highly subsidized petrol prices. The government is now selling gasoline imported from Iran. more information

01-Jun-2020

World: Back to too much oil?
01-Jun-2020 by The Japan Times
For most of the oil industry’s earlier history its overarching problem was not shortage but too many producers and too much oil. Could it now be heading back into just that situation? more information
Oil prices outlook
01-Jun-2020 by GlobalPetrolPrices
The futures prices at the New York Mercantile Exchange suggest that market participants expect a slight recovery of the prices over time. more information
World: Oil prices slip as wary traders eye upcoming OPEC+ meeting
01-Jun-2020 by CNBC
Oil prices fell nearly 1% on Monday as traders hedged bets with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June. more information
Saudi Arabia: The country takes steps to revive economic growth stalled by pandemic, oil price crash
01-Jun-2020 by S&P Global Platts
Saudi Arabia, the world's largest crude exporter, has taken steps to revive economic growth hurt by the COVID-19 pandemic and oil price crash, including making an unprecedented transfer of government funds to the sovereign wealth fund. more information

29-May-2020

Pakistan: Government likely to raise electricity tariff by Rs2 per unit
29-May-2020 by www.pakistantoday.com.pk
It claimed that the National Electric Power Regulatory Authority (NEPRA) will take a decision in this regard on June 3. more information

28-May-2020

Venezuela: Maduro vows to raise gasoline price as Iranian tanker nears
28-May-2020 by Reuters
Venezuelan President Nicolas Maduro on Wednesday pledged to begin charging citizens for gasoline, as the fourth cargo of a five-tanker flotilla bringing fuel from Iran approached the South American nation’s exclusive economic zone. more information
Russia: The country to drill new oil wells to be ready to go when current OPEC+ production cut deal
28-May-2020 by RT
A new project to boost the economy’s sustainable development and support the suffering energy sector during the Covid-19 global crisis has been approved by the Russian government. more information
World: Oil traders on the day prices went negative
28-May-2020 by Vanity Fair
On April 20, oil prices dropped below zero for the first time in trading history, leaving industry insiders shell-shocked and scrambling. “Not only have we been consistently wrong,” says one, “we have been wrong on an order of magnitude more than anyone could conceive.” more information
China: The country cuts Saudi oil imports in favour of Russia
28-May-2020 by Middle East Monitor
China cut its imports of oil from Saudi Arabia last month, customs data issued by the authorities in Beijing revealed this week. During the same period, imports of Russian crude oil increased. more information

27-May-2020

World: Demand rise, output cuts could mean oil market balance in June
27-May-2020 by Reuters
Recovering demand as coronavirus lockdowns ease combined with output cuts by top producers could balance global oil markets as soon as June, some analysts and banks predict. more information
World: Will there be another oil price war?
27-May-2020 by OilPrice.com
Two months ago, Russia said no to Saudi Arabia's proposal for deeper oil production cuts. It was enough to start a price war that, coinciding with the Covid-19 pandemic, wiped out billions in oil revenues for both Russia and Saudi Arabia while forcing them to enact even deeper cuts than previously discussed. more information
This is how much Ontario’s COVID-19 electricity price freeze has cost
27-May-2020 by www.sudbury.com
The Ontario government’s decision to freeze electricity rates during the COVID-19 pandemic will cost taxpayers around $175 million by the end of May, the Financial Accountability Office (FAO) said in a report released May 22. more information
Venezuela: Iranian gasoline arrives in fuel-starved Venezuela, three more tankers en route
27-May-2020 by S&P Global Platts
Two Iranian tankers carrying gasoline arrived in Venezuela over the past few days with three more on their way as the country deals with severe fuel shortages and US sanctions. more information
Brazil: Ethanol prices recover in May following gasoline price rise
27-May-2020 by S&P Global Platts
Hydrous ethanol price in Center-South Brazil started an upward price trend on May 13, mostly supported by the increases in the gasoline price ex-refinery and since then is moving up on a daily bases. more information

26-May-2020

Cheap oil will not help Turkey’s electricity prices
26-May-2020 by Hurriyetdailynews.com
A price hike in household electricity consumption is expected in the upcoming months despite historically low oil prices because of currency fluctuation and the structural design of the Turkish electricity market. more information
Uganda: The country spent Shs2 trillion on motor vehicle imports in 2019
26-May-2020 by Daily Monitor
In June 2018, Parliament passed a law that banned importation of cars manufactured earlier than 2003 due to increase in emission of toxic fumes and environmental damage. more information
USA: Pump prices continue to rise ahead of Memorial Day
26-May-2020 by AAA News
Since Monday, the national average for a gallon of regular gasoline has increased by a nickel to $1.92, which is six cents higher than a week ago, 12 cents more than a month ago, and 92 cents less than a year ago. more information
World: Oil hovers above $34 on signs of markets rebalancing
26-May-2020 by The National
The world’s two leading crude commodity benchmarks continue to hover above $34 per barrel on hopes of a recovery in energy demand as countries prepare to ease lockdowns. more information
India: Why EV dream facing deferments, delays & die-offs
26-May-2020 by The Economic Times
The unexpected spread of coronavirus infection has created an unprecedented situation for automotive manufacturing. more information

22-May-2020

USA: Why U.S. oil and natural gas demand will rebound from Coronavirus
22-May-2020 by Forbes
Amid COVID-19 and an oil price war, recent months have marked perhaps the roughest stretch ever for the U.S. oil and natural gas industry. more information
World: Suez Canal suffers double blow from pandemic, collapse of oil prices
22-May-2020 by The Arab Weekly
The Suez Canal has been hit by a double blow. After absorbing the shock of stagnating global trade due to the COVID-19 pandemic, it was hit by the steepest drop in oil prices in 18 years. Consequently, the canal is no longer as competitive as a corridor for global trade. more information
World: Oil prices, gasoline demand climb as countries ease coronavirus curbs
22-May-2020 by The Hindu Business Line
Oil prices were on the rise on Friday, heading for a fourth straight week of gains, amid more evidence that fuel demand is recovering as countries ease business and social restrictions that were imposed to counter the coronavirus pandemic. more information

21-May-2020

Asia: Asian gasoline margins turn positive as demand rebounds
21-May-2020 by Argus Media
Asia-Pacific gasoline refining margins have turned positive for the first time in over two months, as the removal of some Covid-19 travel restrictions leads to an increase in regional driving activity. more information
USA: Gasoline is driving US oil demand as Memorial Day holiday looms, just how much is unclear
21-May-2020 by S&P Global Platts
As the Memorial Day holiday weekend draws near, the allure of beaches, boardwalks and lakes is likely to be greater than ever for many Americans quarantined by the coronavirus pandemic. more information
World: Refiners pin hopes on gasoline for post-lockdown demand recovery
21-May-2020 by Hydrocarbon Processing
Global oil refiners, battling weak profit margins, are pinning their hopes on a recovery in gasoline demand as coronavirus lockdowns start to ease in many countries around the world. more information
Jamaica: JPS customers will see an increase in light bills this month
21-May-2020 by www.loopjamaica.com
This means that the average customer who consistently uses 165 kWh per month will pay about $483 more on their bill this month. more information

20-May-2020

Venezuela: Why oil-rich Venezuela is suffering severe gasoline shortages
20-May-2020 by Hydrocarbon Processing
At least five Iranian tankers carrying fuel are currently en route to gasoline-starved Venezuela, which has the world’s largest crude reserves. The United States, which maintains sanctions on both OPEC members, is weighing a response to the supply. more information
North America: Crude oil prices are closely, but not perfectly, connected
20-May-2020 by U.S. Energy Information Administration
The decline on April 20, 2020 in the price of the front-month New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) futures contract was the largest and swiftest on record. more information
Mexico: Analysis of the Mexican fuels market under the current crisis
20-May-2020 by Petrol Plaza
The sale of petrol and diesel in Mexico has decreased by 62% due to COVID-19, according to Roberto Díaz de León, President of fuel retailing association Onexpo more information
Venezuela: Venezuelans clamor for gasoline as U.S. weighs response to Iran fuel shipment
20-May-2020 by Reuters
With the United States weighing a response to a gasoline shipment from Iran to Venezuela, people waiting in line outside service stations in the country’s capital said they were eager to fill their tanks, regardless of how the fuel arrived. more information

19-May-2020

Mexico: Mexico to stop importing gasoline by 2023
19-May-2020 by Macau Business
Mexican President Andres Manuel Lopez Obrador on Monday estimated the country will be able to stop importing gasoline by 2023 after improving its own capacity to refine crude oil. more information
World: Memorial Day weekend will be stress test for $30 oil
19-May-2020 by Investing
To know if something is worthy of the expectation built around it, we’d just say: “the proof of the pudding is in the eating.” In the context of the crude oil rally, the proof will be in the driving. more information
Russia: Import of gasoline from Belarus skyrocketing in April
19-May-2020 by TASS
Russia imported 40,100 tonnes of gasoline by rail from Belarus, which is 200 times more than over the last year on the whole, Argus agency reports. more information
World: Iran complains to U.N., summons envoy over U.S. threat on Venezuela shipment
19-May-2020 by Reuters
Iran complained to the United Nations on Sunday and summoned the Swiss ambassador in Tehran, who represents U.S. interests in the Islamic Republic, over possible measures Washington could take against an Iranian fuel shipment to Venezuela. more information

18-May-2020

Ukraine: Electricity prices for population to remain unchanged in 2020
18-May-2020 by Menafn.com
As Ukrinform reported, the National Commission for State Regulation of Energy and Public Utilities denied reports about the alleged increase in electricity tariffs and called on the media not to spread false information. more information
World: Iran news agency warns U.S. against any move on fuel shipment to Venezuela
18-May-2020 by Reuters
An Iranian news agency close to the elite Revolutionary Guards said on Saturday there would be repercussions if the United States acted “just like pirates” against an Iranian fuel shipment to Venezuela. more information
Iran: Oil price drop brings more economic challenges for Iran
18-May-2020 by Atlantic Council
On April 20, oil price futures went below $0 for the first time in history. This drop was caused by the decrease in demand due to the coronavirus pandemic, as people abided by stay at home orders and there was a shutdown of transportation—including air travel—around the world. more information
USA: Signs of a rebound in gasoline demand hint at higher oil prices
18-May-2020 by MarketWatch
Gasoline demand in April suffered its worst month on record, but signs of rebound in consumption as some U.S. states emerge from COVID-19 related lockdowns may offer an indication for higher oil prices ahead. more information

13-May-2020

USA: EIA expects energy-related carbon dioxide emissions to fall 11% this year
13-May-2020 by U.S. Energy Information Administration
The U.S. Energy Information Administration (EIA) forecasts that U.S. energy-related carbon dioxide (CO2) emissions will decline by 11% in 2020. more information
Mexico: Pemex fuel line flows up despite anti-theft aims
13-May-2020 by Argus Media
Mexico transported slightly more refined products through pipelines in 2019 than in 2018, despite a much-touted strategy that consisted of shutting down key theft-prone pipelines and shipping more by tanker trucks. more information
USA: Gasoline demand improves as states reopen and drivers hit the road, but it’s still down 30%
13-May-2020 by CNBC
Gasoline demand is improving and is now about 30% below normal across the U.S., but as expected, it is much stronger in some states that have reopened, analysts said. more information
World: Uber commits $50 million to safety supplies for drivers
13-May-2020 by TechCrunch
Uber says it has committed $50 million to procure and provide safety supplies to drivers. more information

12-May-2020

Argentina: Fuel sales dropped by 88% during the lockdown
12-May-2020 by Petrol Plaza
The Argentine Confederation of Hydrocarbon and Related Trade Entities (Cecha) released a report that estimates an 88% drop in fuel sales at gas stations following the implementation of isolation measures in the fight against the expansion of COVID-19. more information
World: Oil prices settle lower, even as Saudi Arabia announces additional June output cut
12-May-2020 by MarketWatch
Oil futures ended lower on Monday, as a slump in demand for crude outweighed support from a move by Saudi Arabia and other major oil producers to further cut output in June. more information
World: Demand for gasoline rebounds
12-May-2020 by NACS
The demand for gasoline is rebounding, as the car—at least for now—makes a comeback. Areas around the globe are reopening, and driving has emerged as the social-distancing transportation mode of choice. more information
Vietnam: The country seeks gasoline imports as economy reopens
12-May-2020 by Argus Media
Vietnam's state-owned Petrolimex has issued a tender to buy gasoline amid easing travel restrictions in the country. more information

11-May-2020

USA: Gas prices rise for 2nd week as demand returns
11-May-2020 by Houston Chronicle
Gasoline prices nationally climbed for the second-straight week as the lifting of stay-at-home orders across the country boosted demand, according to the fuel-tracking website GasBuddy. more information
USA: Empty skies ground crude demand
11-May-2020 by Argus Media
Empty skies this summer cloud an optimistic outlook for gasoline demand and will limit crude processing at US refineries. more information
Europe: Europeans hit the road as traffic jams rise on lockdown easing
11-May-2020 by Bloomberg
Europe’s drivers have started to clog up the roads again in one of the first signs of a possible revival to the region’s economy. more information
Venezuela: Timid gains in taming inflation being wiped out amid pandemic
11-May-2020 by National Post
Venezuela’s modest advances in taming inflation since last year are being wiped out by chronic fuel shortages and a plummeting exchange rate, driving food prices up amid the coronavirus pandemic, according to economists and industry leaders. more information
Video: Saudi Arabia triples VAT rate as oil revenues tumble
11-May-2020 by Reuters
Saudi Arabia will triple its value added tax rate and suspend a cost of living allowance for state employees, the kingdom's finance minister says, seeking to shore up finances hit hard by low oil prices and a coronavirus-driven slowdown. more information
Pakistan: Cut in power tariff urged
11-May-2020 by www.thenews.com.pk
The SITE Association of Industry (SAI) has demanded the prime minister to order immediate reduction of 30 percent in the K-Electric tariff in the wake of lowest oil prices locally and internationally, a statement said. more information

08-May-2020

Brazil: Petrobras halts sale of huge oilfields after oil price collapse
08-May-2020 by OilPrice.com
Amid the low oil prices, Brazil’s state-owned oil firm Petrobras has suspended preparations to sell a minority stake in a cluster of four offshore fields producing 230,000 bpd, Reuters reported on Thursday, quoting three sources familiar with the matter. more information
Bulgaria: The country seeks to boost tax controls over Lukoil's Bulgarian unit
08-May-2020 by Hydrocarbon Processing
Bulgaria’s parliament backed bolstering tax controls over the country’s biggest fuels seller, owned by Russia’s Lukoil, as the government looks to boost revenue depleted by the state of emergency over coronavirus. more information
World: Slumping auto sector faces long road to recovery
08-May-2020 by Argus Media
Automotive production will make only a gradual recovery from the Covid-19 crisis, cutting demand for auto components this year and weighing heavily on industrial metal and steel prices in the months ahead. more information
World: Oil prices signal market may be getting close to switching from surplus to shortage
08-May-2020 by MarketWatch
Less than three weeks after a soon-to-expire U.S. benchmark futures contract made history by trading below zero dollars for the first time ever, there are signs that the market may soon shift from a surplus to a shortage of crude, one analyst argued Thursday. more information

07-May-2020

India: The country now has the highest taxes on fuel in the world!
07-May-2020 by Economic Times
That means every litre of petrol in Delhi that currently retails at Rs 71.26 includes taxes of Rs 49.42 while for every litre of diesel at Rs 69.39 it is Rs 48.09. Taxes now comprise over 69 per cent of the pump price of the two fuels. more information
Canada: Ontario Extends Electricity Rate Relief During COVID-19
07-May-2020 by news.ontario.ca
Customers who pay time-of-use electricity rates will continue to be billed at the lowest price, known as the off-peak price, 24 hours a day, seven days a week. more information
Brazil: Gasoline tax hike threatens Petrobras refinery revival
07-May-2020 by Argus Media
A standoff between Petrobras and the ethanol sector over a proposed gasoline tax increase risks disrupting the state-controlled company's plans to increase fuel production after a demand slump sent utilization rates to fresh lows in April. more information
USA: California sues gasoline trading companies for price manipulation
07-May-2020 by CSP Daily News
The state of California is suing two multinational gasoline trading companies for allegedly manipulating the spot market for gasoline and artificially increasing pump prices during a major refinery outage. more information

06-May-2020

Panama: Gasoline prices get third increase
06-May-2020 by MenaFN
For the third consecutive period, the price of fuel at gas pumps across country will increase on Friday June 5 in Panama and Colon, according to the National Energy Secretariat. more information

05-May-2020

UK: Auto sales plummet to lowest level since 1946
05-May-2020 by CNBC
The sobering statistics reflect a challenging environment for the U.K. automotive industry. more information
Nigerians’ll pay higher electricity tariffs, FG promises IMF
05-May-2020 by Punchng.com
According to details of the review published by the commission in January, for the Abuja Electricity Distribution Company, residential customers in R3 category who were paying N27.20 per unit would have been paying N47.09, had the regime started on April 1, 2020. more information
India: States raise fuel taxes despite slumping demand
05-May-2020 by Argus Media
India's Delhi and Tamil Nadu states have increased taxes on diesel and gasoline in a further blow to the country's oil product demand. more information
USA: Oil surges on big bet that drivers will take to the roads as states reopen
05-May-2020 by CNBC
The U.S. driver is pivotal to global energy demand, and analysts are studying gasoline station surveys, mobility data and tanker unloadings to see if Americans are getting ready to hit the road as states reopen. more information
USA: API data reveal a weekly climb of over 8 million barrels in crude supplies,
05-May-2020 by MarketWatch
The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 8.4 million barrels for the week ended May 1, according to sources. more information

04-May-2020

USA: Ethanol exports fell for the first time in four years in 2019
04-May-2020 by U.S. Energy Information Administration
The United States exported 96,000 barrels per day (b/d) of fuel ethanol in 2019, the first annual drop in U.S. ethanol exports since 2015. Despite the decrease, total exports remained at the second-highest level on record. The United States exported more fuel ethanol than it imported in 2019, the 10th year in a row as a net exporter. more information
World: Global oil demand starts a long, painful and uncertain recovery
04-May-2020 by Bloomberg
Few have a better watchtower over oil demand than Joe Gorder, chief executive officer of major U.S. refiner Valero Energy Corp. But this week Gorder didn’t even need his business insight to know that fuel consumption was starting to recover in America. more information
World: Oil prices lower on US-China trade tension
04-May-2020 by CNBC
Brent crude futures were down 90 cents, or 3.4%, at $25.54, after touching a low of $25.53. Brent rose about 23% last week following three consecutive weeks of losses. more information
OPEC: Algeria insists on need to fully implement oil output cut agreement
04-May-2020 by Algerie Presse Service
Algeria, currently taking on the chairmanship of the Organization of the Petroleum Exporting Countries (OPEC), insisted Thursday on the need to fully implement the agreement on reduction of oil production while affirming its commitment to cutting its output as from tomorrow. more information

30-Apr-2020

World: Oil price jumps 25% after reports that storage demand has dropped
30-Apr-2020 by Markets Insider
Oil bounced 25% on Wednesday against a backdrop of slowing demand for inventory storage, and news of successful early testing of a drug to treat coronavirus. more information
Norway: The country adjusts its oil production to support oil market stability
30-Apr-2020 by OPEC
Norway has announced its plans to voluntarily adjust its production of crude oil to accelerate the stabilisation process in the global oil market, in light of the outbreak of COVID-19 and its impact on the global economy and oil demand. more information
USA: Cushing oil storage hub almost at full capacity
30-Apr-2020 by RTE
The sleepy town of Cushing in Oklahoma made headlines last week when the price of oil dropped to below $0 a barrel. more information
Bulgaria utilities regulator cuts gas, heating prices; electricity prices unchanged
30-Apr-2020 by Sofiaglobe.com
Bulgaria’s Energy and Water Regulatory Commission (EWRC) said that electricity prices will remain unchanged, while the natural gas price will be cut by 42.8 per cent, triggering a reduction in central heating prices starting April 1. more information

29-Apr-2020

World: API data reveal a weekly climb of nearly 10 million barrels in U.S. crude supplies
29-Apr-2020 by MarketWatch
The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 9.98 million barrels for the week ended April 24, according to sources. more information
Venezuela: Bankrupt Venezuelan oil firm PDVSA proposes selling oil assets to private sector
29-Apr-2020 by Forbes
In a total about-face on the “socialism” and “communism” and the Yankee-Go-Home attitude of the ruling Socialists United of Venezuela (PSUV), the country’s beleaguered and bankrupt oil firm PdVSA has apparently thrown in the towel. more information
Israel: Gasoline prices to fall Thu night
29-Apr-2020 by Globes
The maximum price of government price controlled 95 octane gasoline at self-service pumps in Israel will fall by NIS 0.10 to NIS 4.79 per liter on Thursday night, May 1. more information

28-Apr-2020

Thailand: ERC orders Q2 power bills to be cut by 3%
28-Apr-2020 by www.bangkokpost.com
The limited measure is part of the 40-billion-baht nationwide relief package in response to the Covid-19 pandemic, and is intended to reduce the cost of living for power consumers. more information
Venezuela: The country receives gasoline imports from shipping magnate amid fuel shortage
28-Apr-2020 by Reuters
Venezuela has received a 150,000-barrel shipment of gasoline from a company owned by shipping magnate Wilmer Ruperti, three people with knowledge of the matter said, as the OPEC nation suffers from the worst fuel shortages in decades. more information
Venezuela: Maduro names man sanctioned by US as drug kingpin as Venezuela's oil minister
28-Apr-2020 by RTE
Venezuelan President Nicolas Maduro has named a powerful ally sanctioned by the US as a drug kingpin, along with a cousin of the late socialist leader Hugo Chavez, to revamp his country's oil industry amid massive fuel shortages. more information

27-Apr-2020

Venezuela: Gasoline goes from world's cheapest to steepest
27-Apr-2020 by Reuters
Venezuelans reported paying above $2 per liter ($7.57 per gallon) for gasoline last week amid fuel shortages, one of the world’s highest rates and a dramatic reversal for an OPEC nation that long boasted of having the world’s cheapest fuel. more information

24-Apr-2020

India: Why petrol prices remain flat despite global crude oil crash
24-Apr-2020 by Scroll
Global crude prices may have crashed to historic levels but Indians may not benefit directly from this. more information
World: Oil ends volatile week lower despite nearly 50% jump over three days
24-Apr-2020 by CNBC
Crude prices rose on Friday as energy producers continued to cut the number of rigs drilling for oil in the United States and Canada. more information
World: Oil prices gain as Kuwait agrees to cut output
24-Apr-2020 by Offshore Technology
Oil prices have achieved gains as the OPEC producer Kuwait announced plans to cut supplies to global markets. more information
World: Effects of negative WTI will be felt for years, says GlobalData
24-Apr-2020 by Hellenic Shipping News
Following the news that the West Texas Intermediate (WTI) plunged into negative territory;Indrajit Sen, Oil & Gas Editor at GlobalData, a leading data and analytics company, offers their view. more information

23-Apr-2020

Australia: Negative oil futures. How low will petrol prices go?
23-Apr-2020 by Savings
Oil futures have gone into negative territory for the first time, but the effects at the petrol pump could be hard to see. more information
World: Trump’s tough talk on Iran ‘boosts’ oil prices – but demand & storage issues persist
23-Apr-2020 by RT
Traders credited US President Donald Trump’s threats to sink Iranian patrol boats in the Persian Gulf for the sharp increase in oil futures, just days after lack of storage and low demand drove the US benchmark WTI below zero. more information
New Zealand: Why 'negative' oil prices won't mean cheaper petrol at the pump
23-Apr-2020 by Newshub
Despite oil price in the United States going "negative" today, Kiwis filling up their cars are unlikely to see cheaper fuel at the pump. more information

22-Apr-2020

Mexico, Ecuador and Venezuela particularly hit by oil slump among Latam producers
22-Apr-2020 by Reuters
Prices of key Latin American crude grades plunged this week following the crash in benchmark crude futures, aggravating an already-weak market that has seen very few spot sales throughout April, traders told Reuters on Tuesday. more information
USA: Trump promises to rescue oil companies after prices go negative
22-Apr-2020 by CNN Business
President Donald Trump wants to prevent the looming wave of bankruptcies and mass layoffs in America's beleaguered oil industry. more information
Negative oil prices: What does that mean for consumers and the economy?
22-Apr-2020 by CBS News
The world is awash in oil as demand drops from businesses and consumers alike amid the coronavirus pandemic. We're also running out of places to store it. more information
China - 'the biggest winner' of coronavirus-inspired oil plunge
22-Apr-2020 by Yahoo! Finance
A clear winner has emerged from the historic rout in global oil markets: China, which is reaping an unlikely reward from a crisis it helped foment. more information

21-Apr-2020

US oil prices turn negative as demand dries up
21-Apr-2020 by BBC
That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May. more information
World: Oil is experiencing rare oversupply that's threatening to further whipsaw the market and driv
21-Apr-2020 by Markets Insider
Oil has fallen into a rare situation as an expiring futures contract injects extra volatility into an industry already reeling from oversupply and cratering demand. more information
World: Oil prices dip below zero as producers forced to pay to dispose of excess
21-Apr-2020 by The Guardian
US oil prices turned negative for the first time on record on Monday after oil producers ran out of space to store the oversupply of crude left by the coronavirus crisis, triggering an historic market collapse which left oil traders reeling. more information
Video: What negative crude oil prices mean at the pump
21-Apr-2020 by The Globe And Mail
The price of a barrel of benchmark U.S. oil plunged below $0 a barrel on Monday for the first time in history, a troubling sign of an unprecedented global energy glut as the coronavirus pandemic halts travel and curbs economic activity. But what do negative crude prices mean in the real world? more information
Pump prices in Singapore remain unchanged despite plunge in oil prices
21-Apr-2020 by www.straitstimes.com
Fuel pump prices have not moved since late March, despite crude oil prices falling to below zero on Monday (April 20) before rebounding. Meanwhile, gas and electricity tariffs have not changed significantly from a year ago. more information
World: Oil traders have never seen an ‘insane’ market like this, fear more declines to negative pric
21-Apr-2020 by CNBC
The oil market is facing uncharted territory as the drop-off in demand, caused by the coronavirus pandemic, combined with rapidly filling storage, sent prices plunging into negative territory for the first time in history. more information

16-Apr-2020

Spain: 84% fall in gasoline sales during coronavirus curbs
16-Apr-2020 by Reuters
Spain’s gasoline consumption has plummeted during the coronavirus lockdown, with Spaniards buying 84% less during the fourth week of restrictions compared with the last week before they were imposed. more information
Philippines: Meralco to increase rates this month
16-Apr-2020 by www.philstar.com
The overall rate this month rose by P0.1050 per kilowatt-hour (kWh), from P8.8901 per kWh to P8.9951 per kWh. This is equivalent to a P21 upward movement in the total bill of residential customers consuming 200 kWh. more information
World: OPEC's influence on global oil prices
16-Apr-2020 by Investopedia
Many of the largest oil producing countries in the world are part of a cartel known as the Organization of Petroleum-Exporting Countries (OPEC). As of 2016, OPEC allied with other top, non-OPEC, oil exporting nations to form a more powerful entity that has the descriptive moniker OPEC+ (OPEC Plus). more information
World: Price of oil falls as US stockpiles soars to 19 million barrels
16-Apr-2020 by AlJazeera
United States crude oil prices fell to an 18-year low, and Brent crude lost more than 6 percent on Wednesday after the US reported its biggest weekly inventory stockpile on record, while global demand is expected to fall to quarter-century lows due to the coronavirus pandemic. more information

15-Apr-2020

Brazil: Gasoline, ethanol sales down 30-35% amid coronavirus
15-Apr-2020 by Hellenic Shipping News
Brazilian fuel distributor Petrobras Distribuidora SA, better known by its BR Distribuidora brand name, has seen demand for gasoline and ethanol plummet during the new coronavirus outbreak, its chief executive officer told Reuters on Monday. more information
Indonesia: Pertamina offers 50 percent fuel cashback for app-based 'ojek' drivers
15-Apr-2020 by The Jakarta Post
State-owned fuel distributor Pertamina rolled out on Tuesday a fuel discount scheme for app-based ojek (motorcycle taxi) drivers, who are the logistical lifeline for many self-isolating Indonesians. more information
On the scene at the creation of the petrochemical industry
15-Apr-2020 by MIT Technology Review
The petrochemical industry came of age during World War II, ushering in the era of gasoline, polymers, and plastics. But it truly expanded after the war, helped along by pioneering chemical engineers such as Peter H. Spitz ’48, SM ’49. more information

14-Apr-2020

World: Oil drops more than 10% as producer cuts fail to banish demand fears
14-Apr-2020 by CNBC
Oil prices shed more than 10% on Tuesday, with investors apparently unconvinced that record supply cuts could soon balance markets pummeled by the coronavirus pandemic, though a predicted plunge in U.S. shale output provided some support. more information
World: Crude Oil continues to falter
14-Apr-2020 by Yahoo! Finance
The WTI Crude Oil market has fallen again during the trading session on Tuesday, after initially trying to rally. By doing so, it looks as if it is going to threaten the $20 level eventually, as it had offered such a major amount of support. more information
USA: Import prices post largest drop in over five years
14-Apr-2020 by CNBC
U.S. import prices dropped by the most in more than five years in March amid declines in the costs of petroleum products and a range of other goods, pointing to import deflation that could deepen amid the coronavirus pandemic. more information
World: 14 surprising and bizarre photos from oilfield workers
14-Apr-2020 by Business Insider
The success of many of the world's corporate giants, which are worth hundreds of billions in market value, depends on a single substance that formed from the ancient remains of algae and plants — oil. more information

13-Apr-2020

Philippines: Gasoline, diesel prices up
13-Apr-2020 by GMA
After five consecutive weeks of rollbacks, oil firms are set to implement a hike in pump prices of petroleum products this week. more information
USA: Gasoline demand collapses to a 50-year low
13-Apr-2020 by Forbes
The COVID-19 pandemic is having an unprecedented impact on demand for oil and petroleum products. more information
Coronavirus crisis: Indian states announce electricity tariff cut, tax incentives to industrial cons
13-Apr-2020 by www.businesstoday.in
From subsidised electricity to stimulus package, state governments have announced a slew of relief measures for the industries in wake of the rapidly spreading COVID-19 pandemic that has derailed the economy. more information
USA: Gasoline prices are at multi-year lows, but no one is driving
13-Apr-2020 by CNBC
The national average for a gallon of gas — $1.883 as of Friday, according to the latest data from AAA — is the cheapest in more than four years. The coronavirus outbreak has sapped demand for both crude oil and gasoline, just as a price war between Saudi Arabia kicked off as each sought to gain market share in the global oil market. more information
World: In oil market sunk by coronavirus, giant output cuts make ripple, not big waves
13-Apr-2020 by Reuters
Muted oil price gains on Monday show record output cuts by giant producers will still leave them with a mountain to climb to restore market balance, industry watchers said, with the coronavirus pandemic decimating demand just as stocks swell. more information

10-Apr-2020

USA: Refining and oil export slowdowns among top issues
10-Apr-2020 by RigZone
A re-balancing of the United States’ crude oil trade position, coupled with the apparent need for some domestic refiners to idle their facilities, captured the attention of Rigzone’s downstream readers over the past week. Keep reading to find out more about these and other top issues. more information
World: Saudi, Russia seek to finalise oil cuts in G20 talks, want U.S. involved
10-Apr-2020 by Reuters
Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies and will push the United States and other producers to remove a further 5%. more information
World: Mexican standoff imperils proposed 10 mln barrel OPEC+ oil cut
10-Apr-2020 by MarketWatch
A deal between OPEC and nations including Russia to boost oil prices involves a 10 million barrels per day output cut until July, then an 8 million barrels per day cut through the end of the year, though the cartel said Friday its approval hinges on Mexico’s agreement. more information
India: "No mask, no fuel" rule at Odisha petrol pumps to contain virus spread
10-Apr-2020 by NDTV
he petrol pumps across Odisha today came out with a stringent rule - No Mask, No Petrol/Diesel /CNG - in a bid to strictly enforce government's order making wearing of face masks mandatory while going out of homes. more information

09-Apr-2020

World: The 9th (Extraordinary) OPEC and non-OPEC Ministerial Meeting concludes
09-Apr-2020 by Organization of the Petroleum Exporting Countries
The 9th (Extraordinary) OPEC and non-OPEC Ministerial Meeting was held via webinar, on Thursday, 09 April 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation. more information
World: Railroads push against oil industry demands for storage in rail cars
09-Apr-2020 by Yahoo! Finance
Railroads are clamping down on rising demand from oil companies to store crude in rail cars due to safety concerns, sources said, even as the number of places available to stockpile oil is rapidly dwindling. more information
Infographic: Global refining in logjam as lockdowns slash demand for fuels
09-Apr-2020 by S&P Global Platts
Global refining outages have surpassed 14 million b/d and are expected to get worse as coronavirus lockdowns sideline up to 25% of global oil demand and storage tanks fill to capacity. more information

08-Apr-2020

UK: Why is the petrol price nearing £1 a litre?
08-Apr-2020 by BBC News
The cost of petrol in the UK is approaching £1 a litre for the first time since 2016. Some filling stations around the country have even been reported offering petrol at less than £1. more information
World: OMV might cut jobs due to COVID-19, low oil prices
08-Apr-2020 by OE Digital
Oil and gas group OMV plans to extend a 4 billion euro ($4.35 billion) cost-cutting program, its chief executive said, adding it may cut jobs due to the coronavirus crisis and a slump in energy prices. more information
UK: Fears of crisis in UK car finance market as owners seek payments help
08-Apr-2020 by The Guardian
Fears are growing of a crisis in the UK’s £75bn car loan market, where 6.5m vehicles have been financed through leasing deals with monthly payments that are already proving unaffordable for some laid-off as a result of the coronavirus. more information
World: Oil moves higher ahead of OPEC-led talks on output cuts
08-Apr-2020 by CNBC
Oil steadied near $32 a barrel on Wednesday, supported by hopes that a meeting between OPEC members and allied producers on Thursday will trigger output cuts to shore up prices that have collapsed due to the coronavirus pandemic. more information

07-Apr-2020

India: Maharashtra Government Announces 8% Cut In Electricity Tariff For Five Years
07-Apr-2020 by Bloombergquint.com
The Maharashtra Electricity Regulatory Commission has approved a move to cut tariffs by an average of 7-8 percent as part of the move, which is first such measure in the past 10-15 years. more information
World: EIA’s Short-Term Energy Outlook
07-Apr-2020 by U.S. Energy Information Administration
The COVID-19 pandemic has caused significant changes in energy fuel supply and demand patterns. Crude oil prices, in particular, have fallen significantly since the beginning of 2020, largely driven by the economic contraction caused by COVID-19 and a sudden increase in crude oil supply following the suspension of previously agreed upon production cuts among the Organization of the Petroleum Exporting Countries (OPEC) and partner countries. more information
USA: US car insurers refund drivers stuck at home
07-Apr-2020 by BBC News
A major car insurer in the US is refunding millions of dollars to customers stuck at home during coronavirus lockdowns. more information
World: When will oil bounce back?
07-Apr-2020 by OilPrice.com
Last week saw oil move jump in the largest two-day percentage increase in history. A similar movement was seen in Brent, moving back into the mid-$30’s. more information

06-Apr-2020

World: Moscow and Riyadh are ‘very, very close’ to an oil deal
06-Apr-2020 by CNBC
Russia and Saudi Arabia are “very, very close” to a deal on oil production cuts, according to the chief executive of Russia’s sovereign wealth fund RDIF. more information
World: Oil in a post-Covid world
06-Apr-2020 by The Indian Express
In the midst of a global pandemic of epic dimensions, one is hesitant to write about the narrow subject of petroleum. It seems so trivial. But then, if there is one certainty, it is that human ingenuity and technology will push us, sooner (hopefully) than later, into a post-COVID world. more information
World: Kuwait backs Saudi call for talks on cutting oil output
06-Apr-2020 by Middle East Eye
Kuwait supports Saudi Arabia's call to renew talks on cutting oil production due later this week and hopes for a successful outcome to stabilise the oil market, Kuwait's oil minister said on Sunday. more information
World: Oil slips after OPEC meeting is postponed
06-Apr-2020 by CNN Business
Oil prices, meanwhile, slipped — a suggestion that investors might be pessimistic about whether a resolution to the price war between Saudi Arabia and Russia will really be coming this week. more information

03-Apr-2020

Brazil: Gasoline retailers look to domestic market
03-Apr-2020 by Argus Media
market Published date: 02 April 2020 Share: The sharp fall in Brazilian gasoline consumption is prompting risk-adverse independent retailers and traders to considerably reduce import operations and rely more on domestic output. more information
India: Petrol, diesel prices hiked in Mumbai, Bengaluru, Kolkata
03-Apr-2020 by LiveMint
Petrol and diesel prices were left unchanged for the 18th day today by state-run fuel retailers but in some cities like Mumbai, Bengaluru and Kolkata, the rates have been hiked by Re 1- ₹1.5 a litre from this month due to a hike in VAT by the state governments. more information
Cambodia: Big fall in petrol prices
03-Apr-2020 by Xinhua Net
Cambodia’s retail gasoline price has strongly declined for the first time because of the fall on the international market, the Khmer Times reported on Thursday. more information

02-Apr-2020

World: Oil prices surge on hopes of a price war truce
02-Apr-2020 by BBC News
Signs that Saudi Arabia and Russia may end an oil feud sent prices up more than 20% on Wednesday, the biggest one-day leap on record. more information
USA: Storing large quantities of gasoline is dangerous
02-Apr-2020 by Medicine Hat News
The Lethbridge Fire Prevention Bureau is warning residents about the dangers of storing large quantities of gasoline in residential properties and using unapproved storage containers to do so. more information
Singapore: Electricity tariff to fall 5.1% from April to June
02-Apr-2020 by www.channelnewsasia.com
Households will see a drop in the tariff from 24.24 cents to 23.02 cents per kilowatt hour, said SP Group in a media release. more information

01-Apr-2020

UK: Fuel prices suffer biggest weekly fall since records began due to coronavirus
01-Apr-2020 by The Sun
The average cost of a litre of petrol was £1.12 on Monday, compared with £1.20 seven days earlier. more information

31-Mar-2020

India: No rate cut for 13 days, crude oil slumps another 5%
31-Mar-2020 by LiveMint
Even as crude oil rates slumped another 5% to below $25 a barrel, petrol and diesel prices were left unchanged for the 13th day in a row today. Fuel rates are directly dependent on crude oil rates as India imports more than 80% of its crude oil requirements. more information
World: US crude dips below $20 as lockdowns hit demand
31-Mar-2020 by CNBC
Oil prices fell sharply on Monday, with U.S. crude briefly dropping below $20 and Brent hitting its lowest level in 18 years, on heightened fears that the global coronavirus shutdown could last months and demand for fuel could decline further. more information
World: IEA Executive Director and OPEC Secretary General discussed the current situation in global o
31-Mar-2020 by Organization of the Petroleum Exporting Countries
Leaders expressed deep concerns about the grave global health crisis caused by the coronavirus (COVID-19) and its related impacts on the stability of economies and markets, notably in developing countries. more information
World: Oil crashes to 18-year low with broken market drowning in crude
31-Mar-2020 by Bloomberg
Oil tumbled to an 18-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus. more information

30-Mar-2020

World: The destabilizing impact of COVID-19
30-Mar-2020 by Organization of the Petroleum Exporting Countries
The dramatic spread of the coronavirus, from a single case in China to a global pandemic in less than three months, has forced governments to take drastic measures to protect public health. more information
India: No fuel crisis - enough stock of petrol, diesel to last lockdown
30-Mar-2020 by Economic Times
India, the world's third largest energy consumer, has enough petrol, diesel and cooking gas (LPG) in stocks to last way beyond the three-week nationwide lockdown as all plants and supply locations are fully operational, Indian Oil Corp (IOC) Chairman Sanjiv Singh said. more information
South Africa: Record fuel price drop on April 1
30-Mar-2020 by Moneyweb
It may come as little relief right now with South Africa’s population of 59 million under a Covid-19 lockdown, but motorists will see a record drop in fuel prices on Wednesday. more information
World: Oil market volatility is at an all-time high
30-Mar-2020 by U.S. Energy Information Administration
Crude oil prices have fallen significantly since the beginning of 2020, largely driven by the economic contraction caused by the 2019 novel coronavirus disease (COVID-19) and a sudden increase in crude oil supply following the suspension of agreed production cuts among the Organization of the Petroleum Exporting Countries (OPEC) and partner countries. more information

27-Mar-2020

India: Petrol pumps open amid lockdown. Petrol, diesel prices unchanged for 10 days
27-Mar-2020 by LiveMint
As fuel falls under the essential services sector, petrol pumps have been asked to remain open across the country during the 21-day nationwide lockdown which began from yesterday. more information
UK: Petrol tumbles to 99.7p per litre because of lack of demand in coronavirus crisis
27-Mar-2020 by MyLondon
Fuel prices have fallen below £1 per litre for the first time in more than a decade. The price of standard unleaded petrol has tumbled with the garage in Birmingham's Kings Heath dropping the cost to 99.7p. more information
Is Covid-19 rapidly spreading through petrol pumps?
27-Mar-2020 by Energy Live News
A series of WhatsApp messages and posts on social media, which have been shared by millions of people, suggest that petrol pumps around the UK are acting as ‘super-spreaders’ of the new virus. more information

26-Mar-2020

Comment: Saudi Arabia is done playing mediator
26-Mar-2020 by Gulf News
In the seminal book The Art of War, Chinese author Sun-Tzu wrote, “In the midst of chaos, there is also opportunity.” Sun’s prose pertained to military strategy, but is apropos to Saudi Arabia’s bold move to surprise global oil markets and regain market share. more information
Cash, petrol pumps, touch screens: all the items off limits to avoid virus
26-Mar-2020 by News.com.au
From filling up the car to crossing roads, to food deliveries, to paying for anything as people avoid “dirty cash”, the world outside your door is changing rapidly. more information
World: Barclays cuts 2020 crude forecasts by $12 on virus and OPEC+ deal collapse
26-Mar-2020 by Arab News
Barclays on Tuesday slashed its oil price forecasts for 2020, citing considerable downward pressure on the market from the Saudi-Russian price war and demand disruption because of the coronavirus. more information
World: More than 1 million oil workers are set to lose their jobs this year
26-Mar-2020 by Business Insider
More than one million oilfield service jobs are likely to be cut this year in the wake of the spreading coronavirus and historic oil price crash, according to an analysis published today by the research firm Rystad Energy. more information
World: Oil spill
26-Mar-2020 by Reuters
The worldwide oil market has dropped precipitously over the past month, due to a price war between Russia and OPEC and demand destruction due to the growth of the coronavirus pandemic more information

25-Mar-2020

World: Mobile location data shows just how much travel has dropped off
25-Mar-2020 by Axios
A new analysis from the data science company Descartes Labs helps provide a window onto how the global coronavirus pandemic is forcing dramatic changes to daily life and energy use. more information
Video: Why are stocks, oil prices continuing to crash?
25-Mar-2020 by Arirang News
Let's begin an in-depth discussion with experts from around the world. Oil prices have fallen sharply for four consecutive weeks now,... slumping by more than 60 percent since the turn of 2020. more information
World: US urges Saudi Arabia to ‘rise to the occasion’ and end its oil price war with Russia
25-Mar-2020 by CNBC
The U.S. has called on OPEC kingpin Saudi Arabia to put a stop to its ongoing oil price war with non-OPEC leader Russia. more information
World: China buys record volume of Russian oil as European demand dives
25-Mar-2020 by Reuters
China is buying a record 1.6 million tonnes of Russian oil for loading at sea over the next four weeks, taking advantage of rock bottom prices for Russia’s flagship Urals grade combined with a collapse in demand in Europe, traders said on Wednesday. more information

24-Mar-2020

China: Crude oil imports surpassed 10 million barrels per day in 2019
24-Mar-2020 by U.S. Energy Information Administration
China’s annual crude oil imports in 2019 increased to an average of 10.1 million barrels per day (b/d), an increase of 0.9 million b/d from the 2018 average. more information
Brazil: Falling fuel prices, weak currency drive the country switch from ethanol to sugar
24-Mar-2020 by Nasdaq
Brazilian mills are expected to make a sharp switch from ethanol to sugar production in the new season kicking off in the world's largest sugarcane producer, as falling gasoline prices and a weak currency reduce the biofuel's appeal, analysts said. more information
USA: A price collapse breaks a fragile shale sector - can it be fixed?
24-Mar-2020 by S&P Global Platts
As oil prices dipped to levels not seen in nearly two decades, US shale operators slashed budgets and rig counts and braced for a hellish few months, if not years. Is even a modest price rebound possible in the near term? more information

23-Mar-2020

World: S&P Ratings slashes crude oil forecast for 2020 by $10 per barrel
23-Mar-2020 by The National
S&P Ratings slashed its forecast for oil prices by $10 a barrel, citing severe supply-demand imbalance due to the coronavirus outbreak. more information
USA: Should you stock up on gasoline when prices drop?
23-Mar-2020 by Fox News
Gasoline prices have plummeted in recent weeks as people started staying at home to help fight the spread of the coronavirus just as Saudi Arabia and Russia increased oil production. more information
China cuts electricity costs of enterprises from February to June
23-Mar-2020 by www.xinhuanet.com
The electricity price of enterprise users except those in high energy consuming sectors will be cut by 5 percent. The price reduction policy can benefit about 50 million users, accounting for about three quarters of all industrial and commercial users, the National Development and Reform Commission said. more information
UK: Ford shuts down UK production due to virus
23-Mar-2020 by BBC News
Ford is to shut down its production in the UK as a result of the coronavirus outbreak. more information
World: Brent crude extends fall as coronavirus shutdowns sap demand
23-Mar-2020 by Reuters
Brent crude prices extended falls on Monday amid more action by governments to contain the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a worldwide economic contraction. more information

20-Mar-2020

US Energy secretary: Contemplating more oil purchases in future
20-Mar-2020 by FOX Business
U.S. Energy Secretary Dan Brouillette discusses the oil price war and says the U.S. believes in its oil industry. more information
World: Volatility to increase in tanker market following oil price war
20-Mar-2020 by Hellenic Shipping News
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of coronavirus (COVID-19). more information
World: Global oil, gas producers cut spending after crude price crash
20-Mar-2020 by Reuters
Oil and gas companies are cutting spending plans in response to the new coronavirus and a push by Saudi Arabia and Russia to ramp up output. more information
USA: Trump urged to embargo Saudi and Russian oil
20-Mar-2020 by RigZone
U.S. President Donald Trump has been urged to embargo Saudi Arabian and Russian oil in an open letter from Kevin Cramer, the U.S. senator for North Dakota. more information

19-Mar-2020

World: Oil bounces back up 24% after Trump says he would consider intervening in price war
19-Mar-2020 by Forbes
After days of plummeting prices and falling demand tied to the global coronavirus pandemic and an ongoing price war between Saudi Arabia and Russia, U.S. oil surged 24% on Thursday afternoon, gaining back about half of its losses from Wednesday, when it reached a multi-decade low. more information
Saudi Arabia: Saudi Aramco to cut refinery runs in April, May to boost oil exports
19-Mar-2020 by Reuters
Saudi Aramco will continue reducing operations at its local refineries in April and May to boost the state energy company’s potential to export crude oil, a company official said on Thursday. more information
Iraq: The country on the verge of economic disaster after falling oil prices
19-Mar-2020 by AFP
Weighed down by falling oil prices and political stagnation, Iraq is on the brink of a financial catastrophe that could force austerity measures, reigniting anti-government protests. more information
World: The world has an oil storage problem
19-Mar-2020 by The Sydney Morning Herald
The oil market could see a record supply surplus in April as coronavirus wipes out demand and big producers pump more, creating a global glut that threatens to overwhelm storage capacity within months and force widespread industry shutdowns, analysts said on Wednesday. more information
Bolivian government plans to reduce electricity rate by 30% of April bill
19-Mar-2020 by www.eju.tv
The Government, by means of a Supreme Decree, decided this Wednesday to reduce the electricity rate of the household category by 30% for April billing, due to the emergency and quarantine due to the outbreak of coronavirus. more information
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