Global oil refiners shut down as coronavirus destroys demand
The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns.
Crude extends fall with U.S. gasoline down 20% as global shutdowns sap demand
Oil prices extended their decline on Monday, with record low U.S. gasoline prices leading the energy complex lower, as the coronavirus pandemic crushes demand worldwide after travel and industrial activity contracted across the globe in a bid to stem the spread of the virus.
BAML cuts Latam 2020 GDP forecast to 0.7% on coronavirus, oil shocks
Economists at Bank of America Merrill Lynch have substantially lowered their 2020 economic growth forecast for Latin America, citing the hit to activity from the global coronavirus outbreak and the region’s exposure to lower oil prices.
Equinor's offshore oil rig infection exposes coronavirus dangers
Equinor (EQNR.OL) reported the oil industry’s first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms.
OPEC slashes 2020 oil demand view on coronavirus, sees more downside
OPEC slashed on Wednesday its forecast for global growth in oil demand this year due to the coronavirus outbreak and said more revisions might follow, underlining the deepening impact of the virus on the market days after a pact on output cuts collapsed.
Oil gives up gains even as OPEC works on big output cut
Crude oil prices were mixed, giving up early gains despite expectations that major producers were closing in on an agreement to cut supply aimed at offsetting a slump in demand caused by the coronavirus outbreak.
OPEC struggles to win Russian backing for big oil cut amid coronavirus
Saudi Arabia and other OPEC members struggled on Wednesday to win support from Russia to join them in additional oil output cuts in a bid to prop up prices which have tumbled by a fifth this year because of the coronavirus outbreak.
Turkey, Russia launch TurkStream pipeline carrying gas to Europe
The presidents of Turkey and Russia on Wednesday formally launched the TurkStream pipeline which will carry Russian natural gas to southern Europe through Turkey, part of Moscow’s efforts to reduce shipments via Ukraine.
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