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Crude Oil

Oil slides on COVID-19 resurgence, strong dollar

Oil slides on COVID-19 resurgence, strong dollar

  • In Europe, some countries were reviving curfews and lockdowns to fight a surge in new coronavirus cases, with Britain imposing tougher COVID-19 restrictions in London on Friday.
Published 16 Oct, 2020 04:54pm
Oil eases as new lockdowns raise concern about fuel demand
Markets

Oil eases as new lockdowns raise concern about fuel demand

  • US petroleum products supplied increase last week – EIA.
  • US distillate inventories post biggest drop since 2003 – EIA.
  • Europe revives lockdowns amid soaring coronavirus cases.
  • OPEC+ made little progress in compensating for overproduction.
  • Top global oil traders see slow oil demand recovery.
Published 16 Oct, 2020 01:51am
Mexico's Pemex sees output reaching 2.3mn bpd by end-2024
Markets

Mexico's Pemex sees output reaching 2.3mn bpd by end-2024

  • He said private output is expected to reach just 70,000 bpd by the end of 2020, and some 280,000 bpd by 2024.
  • Romero, a longtime confidant of the president, said Pemex's domestic refineries will process 1.1 million bpd of crude by the end of this year, up 10%.
Published 15 Oct, 2020 12:19am
Hurricane Delta's winds topple gear, disrupt US oil refineries
World

Hurricane Delta's winds topple gear, disrupt US oil refineries

  • Delta's fierce winds tore roofs off homes, cut electric power and disrupted energy operations as far away as Port Arthur, Texas, 65 miles.
  • Total SA's 225,500 barrel-per-day (bpd) refinery lost power, Valero Energy Corp's 335,000 bpd plant lost a cooling tower.
Published 11 Oct, 2020 12:09am