Shell, one of the world's largest oil companies, has warned that the low price of oil could reduce the value of its assets by up to $22bn
Hopes over the lifting of restrictions buoyed up market sentiment even as the pandemic took a further grim toll on jobs.
Despite the current crisis in the oil and gas sector occasioned by a slide in crude oil prices, industry experts and policy analysts foresee that there will be stabalisation of crude oil prices
Norway has announced it will reduce oil output for the second half of 2020
The two nations acted prior to the May 1 deadline set by OPEC+
The next chapter in the oil crisis is now inevitable: great swathes of the petroleum industry are about to start shutting down.
It has been revealed that there are currently 27 oil tankers with more than 20 million barrels of crude onboard anchored off the coast of Southern California,
The price of US oil has turned negative for the first time in history
Oil prices rose on Monday after the world’s largest producing oil nations agreed to the largest ever production cut in history to end a price war between Russia and Saudi Arabia.
The world’s top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th, putting an end to the devastating price war between Saudi Arabia and Russia.
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