In brokering the end to the global oil-price war last month, the Trump administration assured leaders that America’s shale patch would throttle back production.

Over the last eight weeks, the Newfoundland and Labrador Oil and Gas Industries Association (Noia) has had ongoing discussions with the federal and provincial governments about providing immediate help to Canada’s offshore industry, which has been hit extremely hard by COVID-19 and the collapse of oil prices.

OPEC+ is responding to the oil market’s collapse with an urgency never seen before.

As the international community seeks answers with regards to the failed armed incursion into Venezuela that took place May 4, allegedly with the immediate participation of former US military veterans, President Maduro has once again proved to be a masterful survival artist.

UK-based oil and gas operator Premier Oil has said it has suspended the Sea Lion-1 oil project offshore the Falkland Islands

Neptune Energy has conducted the world’s first dual drilling operation from an integrated subsea template structure at the Fenja field in the Norwegian North Sea.

Global oil demand will take at least a year--and probably much longer--to return to the pre-crisis levels of 100 million barrels per day (bpd), Fatih Birol, Executive Director of the International Energy Agency (IEA), told Gulf Intelligence in an interview on Wednesday.

Norwegian offshore drilling contractor Odfjell Drilling does not expect the Covid-19 and low oil prices to have a major impact on its business in the short to medium term.

Saudi Arabia and Russia see signs that oil demand is recovering as countries around the world start to relax lockdowns imposed to fight the spread of the coronavirus outbreak.

OPEC presented a bleaker assessment of global oil markets for the second quarter as the coronavirus crisis continues to drain demand, days after some of the cartel’s biggest producers pledged to make even deeper production cutbacks