International

How an Epic Gamble Exposed the Rot Inside an Oil Empire

The rise and fall of legendary oil trading house Hin Leong: $800 million in hidden losses

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US oil prices crash below $0 a barrel. Global stocks are mixed

US oil prices crashed Monday to a record low as the market continues to be roiled by an epic collapse in demand caused by the coronavirus pandemic

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Saudis to sell 600,000 bbl of oil a day to the U.S. in April

Saudi Arabia is set to sell about 600,000 barrels a day of crude to the U.S. in April, the highest volume in a year, according to a Saudi industry official familiar with allocations to American refiners.

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Schlumberger sees 40% capital spending cuts in North America

Industry leading oilfield service firm Schlumberger sees North American producers cutting their capital spending by 40% in 2020 compared to roughly 15% cutbacks internationally as independent shale firms move more quickly to respond to the demand collapse triggered by the coronavirus pandemic.

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US-Saudi ties strained as Mohammed bin Salman reverses on oil

Crown prince gambled his political capital in Washington by flooding saturated market with discounted crude

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Oil Weighed Down After 10% Drop on Lingering Demand Fears

Oil was anchored near $20 a barrel after tumbling 10% on Tuesday as concerns over virus-driven demand destruction overshadowed a historic deal by the world’s biggest producers slash output.

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Oil Little Changed After Historic OPEC+ Deal to Cut Production

Oil surrendered gains after rising in early trading as investors weighed whether an unprecedented deal by the world’s biggest producers to cut output would would be enough to steady a market pummeled by the coronavirus.

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Détente in oil price war as OPEC+ agrees to 9.7MMbpd cut

The world’s top oil producers pulled off a historic deal to cut global crude output and put an end to a devastating price war.

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