One day after WTI crude closed at -$37.01, the Texas Railroad Commission declined to vote on a proposal to set limits on oil production in the state. In political parlance, the commission kicked the proverbial can down the road for two weeks.

President Donald Trump said his administration is working on a plan to make money available to the oil industry to prevent the loss of jobs after prices plunged below zero.

The most ambitious bid to rescue the global oil industry ever seen has been swept aside by a brutal wave of demand destruction.

https://www.worldoil.com/news/2020/4/17/adnoc-terminates-dalma-gas-project-with-petrofac

The world’s biggest independent oil storage company said that space for traders to store crude and refined fuels has all but run out as a result of the fast-expanding glut that Covid-19 has created.

The oil price will stay low for some time as supply exceeds demand and the current situation on global oil markets is reminiscent of the 1980s oil glut, former BP boss John Browne said on Tuesday.

An offshore worker was injured last week after falling from a height of 3.6 meters aboard the Equinor-operated Oseberg B platform in the North Sea offshore Norway.

President Donald Trump said he wants to add as much as 75 million barrels of oil to the nation’s Strategic Petroleum Reserve, taking advantage of record low prices for crude, and that he’ll consider blocking imports of crude from Saudi Arabia.

With over 7000 live jobs companies are still hiring.

BP is joining forces with the U.S. government, leading universities and the world’s largest technology companies by providing access to its supercomputer to help researchers halt the spread of COVID-19.