• Electricity
    • Nuclear
    • Thermal
    • Coal
  • Natural Gas
    • Upstream
    • Shale/Unconventional
    • Downstream
    • Lng/Lpg
  • Oil
    • Upstream
    • Downstream
    • Refining/Petro Chemistry
    • Transportation/Fuel Oil
  • Renewable
    • Wind
    • Solar
    • Hydro
    • Geothermal/Biomass
  • Finance
    • Projects
    • Invesments
    • Stock Market
  • Regulation
    • Oil
    • Electricity
    • Natural Gas
    • Renewable
    • LPG
  • Energy Diplomacy
    • Energy Security
    • International Relations
    • International Organization
    • Energy Projects
  • World
    • Turkey
    • Europe
    • Eurasia
    • Asia
    • Americas
    • Middle East-Africa
  • Reports
  • other
    • News from companies
    • Energy Meetings
    • Video
  • Türkçe
  • English

Anadolu AgencyAnadolu Agency

  • Log Out Log in
  • Anadolu Agency
  • Electricity
    • Nuclear
      Iran-EU tensions reach fever pitch over nuclear program

      Iran-EU tensions reach fever pitch over nuclear program

      Iran confirms plan to enrich uranium up to 20 percent

      Iran confirms plan to enrich uranium up to 20 percent

      Spot market electricity prices for Friday, Jan. 1

      Spot market electricity prices for Friday, Jan. 1

      Iran nuke deal sides' ministers due for talks next week

      Iran nuke deal sides' ministers due for talks next week

    • Thermal
      Spot market electricity prices for Friday, Jan. 22

      Spot market electricity prices for Friday, Jan. 22

      Uzbekistan: 3 killed in thermal power plant blast

      Uzbekistan: 3 killed in thermal power plant blast

      Spot market electricity prices for Wednesday, Jan. 6

      Spot market electricity prices for Wednesday, Jan. 6

      Turkey's daily power consumption down 1.85% on Dec. 30

      Turkey's daily power consumption down 1.85% on Dec. 30

    • Coal
      Turkey's daily power consumption up 18.76% on Jan. 4

      Turkey's daily power consumption up 18.76% on Jan. 4

      Spot market electricity prices for Friday, Jan. 1

      Spot market electricity prices for Friday, Jan. 1

      Highlights of Turkish energy market in 2020

      Highlights of Turkish energy market in 2020

      2021 global coal demand to grow 2.6% after record drop

      2021 global coal demand to grow 2.6% after record drop

  • Natural Gas
    • Upstream
      Eni announces oil discovery in Western Desert of Egypt

      Eni announces oil discovery in Western Desert of Egypt

      US produces, consumes record high natural gas in 2019

      US produces, consumes record high natural gas in 2019

      Nigeria's president launches new gas pipeline project

      Nigeria's president launches new gas pipeline project

      OPEC holds first technical meeting with gas exporters

      OPEC holds first technical meeting with gas exporters

    • Shale/Unconventional
      Spot market natural gas prices for Sunday Aug. 23

      Spot market natural gas prices for Sunday Aug. 23

      Spot market natural gas prices for Monday, March 2

      Spot market natural gas prices for Monday, March 2

      Spot market natural gas prices for Tuesday, Feb. 11

      Spot market natural gas prices for Tuesday, Feb. 11

      British LNG carrier arrives in Turkey

      British LNG carrier arrives in Turkey

    • Downstream
      3rd Turkish drillship leaves Mersin bound for Black Sea

      3rd Turkish drillship leaves Mersin bound for Black Sea

      Dialogue, de-escalation in E.Med benefit everyone: NATO

      Dialogue, de-escalation in E.Med benefit everyone: NATO

      Turkey’s giant gas find worth $80 billion: IEA Head

      Turkey’s giant gas find worth $80 billion: IEA Head

      US' gas-fired electricity generation rises 9% in 1H20

      US' gas-fired electricity generation rises 9% in 1H20

    • Lng/Lpg
      Asian spot LNG prices jump due to cold weather, low gas stock

      Asian spot LNG prices jump due to cold weather, low gas stock

      US LNG vessel arrives in Turkey on Jan. 21

      US LNG vessel arrives in Turkey on Jan. 21

      Aygaz enters LPG business in Bangladesh via new partner

      Aygaz enters LPG business in Bangladesh via new partner

      Rising LNG demand to curb supply glut in 1H21: Fitch

      Rising LNG demand to curb supply glut in 1H21: Fitch

  • Oil
    • Upstream
      ExxonMobil makes first discovery offshore Suriname

      ExxonMobil makes first discovery offshore Suriname

      Rosneft income falls 77%, revenue down 51% in 2Q20

      Rosneft income falls 77%, revenue down 51% in 2Q20

      Oil prices flat with 0.04% rise in week ending August 14

      Oil prices flat with 0.04% rise in week ending August 14

      Brent oil prices down amid global pandemic crisis

      Brent oil prices down amid global pandemic crisis

    • Downstream
      ExxonMobil makes first discovery offshore Suriname

      ExxonMobil makes first discovery offshore Suriname

      US oil rig count rises by four for week ending Oct. 9

      US oil rig count rises by four for week ending Oct. 9

      Lundin upgrades Edvard Grieg field reserve estimates

      Lundin upgrades Edvard Grieg field reserve estimates

      Norway's Equinor discovers oil and gas in North Sea

      Norway's Equinor discovers oil and gas in North Sea

    • Refining/Petro Chemistry
      Turkey's Petkim profits up 36% year-on-year in 3Q20

      Turkey's Petkim profits up 36% year-on-year in 3Q20

      Iran moves from oil to petrochemicals in export

      Iran moves from oil to petrochemicals in export

      Oil prices up with estimated decline in US crude stocks

      Oil prices up with estimated decline in US crude stocks

      US crude oil stocks rise against market expectation

      US crude oil stocks rise against market expectation

    • Transportation/Fuel Oil
      Venezuela condemns US policy of seizing fuel shipments

      Venezuela condemns US policy of seizing fuel shipments

      Battery patents grow by 14% in 13 years: Study

      Battery patents grow by 14% in 13 years: Study

      Turkish start-up to produce lithium-ion battery cathode

      Turkish start-up to produce lithium-ion battery cathode

      US jet fuel demand falls by 29% in Jan-May 2020

      US jet fuel demand falls by 29% in Jan-May 2020

  • Renewable
    • Wind
      Equinor chosen for largest-ever US offshore wind award

      Equinor chosen for largest-ever US offshore wind award

      New Mexico to have largest wind installation in region

      New Mexico to have largest wind installation in region

      Wind, water produce most of EU renewable power in 2019

      Wind, water produce most of EU renewable power in 2019

      2020 sees big developments in Baltic Sea offshore wind

      2020 sees big developments in Baltic Sea offshore wind

    • Solar
      Turkey expects to add 1,500 MW of solar power this year

      Turkey expects to add 1,500 MW of solar power this year

      Wind, water produce most of EU renewable power in 2019

      Wind, water produce most of EU renewable power in 2019

      Turkey to open mini solar tenders in 2 months

      Turkey to open mini solar tenders in 2 months

      Esenboga Elektrik pays in full for 11 solar power plants

      Esenboga Elektrik pays in full for 11 solar power plants

    • Hydro
      Hydro produces 90.8% of Norway's electricity in Dec.

      Hydro produces 90.8% of Norway's electricity in Dec.

      Wind, water produce most of EU renewable power in 2019

      Wind, water produce most of EU renewable power in 2019

      Hydro produces 89% of Norway's power in November

      Hydro produces 89% of Norway's power in November

      Hydro produces 92.8% of Norway's power in October

      Hydro produces 92.8% of Norway's power in October

    • Geothermal/Biomass
      Turkey in top 4 countries with geothermal capacity

      Turkey in top 4 countries with geothermal capacity

      Biomass can meet one-third of Turkey's annual power

      Biomass can meet one-third of Turkey's annual power

      EU approves €550M Danish aid to support biomass plants

      EU approves €550M Danish aid to support biomass plants

      ESCAP, IRENA to cooperate for sustainable solutions

      ESCAP, IRENA to cooperate for sustainable solutions

  • Finance
    • Projects
      Siemens Energy to drive hydrogen economy in Middle East

      Siemens Energy to drive hydrogen economy in Middle East

      Turkey launches trade center in Chicago

      Turkey launches trade center in Chicago

      Esenboga Elektrik pays in full for 11 solar power plants

      Esenboga Elektrik pays in full for 11 solar power plants

      Turkey's new lithium prod. plant to save $20M imports

      Turkey's new lithium prod. plant to save $20M imports

    • Invesments
      Aygaz enters LPG business in Bangladesh via new partner

      Aygaz enters LPG business in Bangladesh via new partner

      Turkey allocates $18.5B for 2021 investments

      Turkey allocates $18.5B for 2021 investments

      Venezuela open to foreign investment in oil sector

      Venezuela open to foreign investment in oil sector

      Turkey's gold production set to break records in 2021

      Turkey's gold production set to break records in 2021

    • Stock Market
      Spot market natural gas prices for Tuesday, Dec. 22

      Spot market natural gas prices for Tuesday, Dec. 22

      Spot market natural gas prices for Sunday, Dec. 20

      Spot market natural gas prices for Sunday, Dec. 20

      Iraq’s central bank devalues national currency

      Iraq’s central bank devalues national currency

      Spot market electricity prices for Sunday, Dec. 20

      Spot market electricity prices for Sunday, Dec. 20

  • Regulation
    • Oil
      Oil up on US inventory fall, UK vaccine approval

      Oil up on US inventory fall, UK vaccine approval

      Fitch reduces oil price forecast due to higher supply

      Fitch reduces oil price forecast due to higher supply

      S. Arabia, Iraq discuss efforts to stabilize oil market

      S. Arabia, Iraq discuss efforts to stabilize oil market

      US crude oil inventories fall for week ending Aug. 14

      US crude oil inventories fall for week ending Aug. 14

    • Electricity
      Spot market electricity prices for Friday, Dec. 4

      Spot market electricity prices for Friday, Dec. 4

      24/7 power with Turkey’s new mobile monitoring system

      24/7 power with Turkey’s new mobile monitoring system

      Turkey's daily power consumption up 3.28% on Sept. 8

      Turkey's daily power consumption up 3.28% on Sept. 8

      Sudan: Flashpoint Ethiopian dam not related to floods

      Sudan: Flashpoint Ethiopian dam not related to floods

    • Natural Gas
      Turkey's daily power consumption down 0.77% on Oct. 23

      Turkey's daily power consumption down 0.77% on Oct. 23

      Russian Lukoil starts Chashkino gas-turbine power plant

      Russian Lukoil starts Chashkino gas-turbine power plant

      Gazprom posts 26% loss in 1H20

      Gazprom posts 26% loss in 1H20

      Trump scraps Obama methane limits in oil, gas sectors

      Trump scraps Obama methane limits in oil, gas sectors

    • Renewable
      EBRD to give €26M to build new wind farms in Poland

      EBRD to give €26M to build new wind farms in Poland

      Denmark leads zero-emission urban buses in Europe

      Denmark leads zero-emission urban buses in Europe

      Equinor chosen for largest-ever US offshore wind award

      Equinor chosen for largest-ever US offshore wind award

      US renewable energy installation set to grow in 2021

      US renewable energy installation set to grow in 2021

    • LPG
      Pandemic reveals importance and reliability of LPG

      Pandemic reveals importance and reliability of LPG

      Turkish fund Oyak to buy Demiroren's auto fuel ops.

      Turkish fund Oyak to buy Demiroren's auto fuel ops.

      Turkey's LPG imports down over 19.02% in June 2019

      Turkey's LPG imports down over 19.02% in June 2019

      Equinor inks agreement for LPG storage in Malaysia

      Equinor inks agreement for LPG storage in Malaysia

  • Energy Diplomacy
    • Energy Security
      S. Arabia becomes largest oil supplier to China in 2020

      S. Arabia becomes largest oil supplier to China in 2020

      Libya records 92% loss of oil, gas revenues in 2020

      Libya records 92% loss of oil, gas revenues in 2020

      Biden signs 15 orders in sweeping erasure of Trump acts

      Biden signs 15 orders in sweeping erasure of Trump acts

      Uzbekistan: 3 killed in thermal power plant blast

      Uzbekistan: 3 killed in thermal power plant blast

    • International Relations
      Azerbaijan, Turkmenistan sign deal on Caspian hydrocarbon field

      Azerbaijan, Turkmenistan sign deal on Caspian hydrocarbon field

      US now needs an ambitious climate plan: Experts

      US now needs an ambitious climate plan: Experts

      S. Arabia becomes largest oil supplier to China in 2020

      S. Arabia becomes largest oil supplier to China in 2020

      Turkish, Greek militaries conclude NATO-hosted meeting

      Turkish, Greek militaries conclude NATO-hosted meeting

    • International Organization
      Fitch warns of oil demand decline in 1st quarter 2021

      Fitch warns of oil demand decline in 1st quarter 2021

      Total's exit from API politically motivated: Experts

      Total's exit from API politically motivated: Experts

      Global oil demand to increase 6% in 2021: IEA

      Global oil demand to increase 6% in 2021: IEA

      Oil supplies via BTC p/line buoyant despite lockdowns

      Oil supplies via BTC p/line buoyant despite lockdowns

    • Energy Projects
      Keystone XL pipeline in political gridlock again

      Keystone XL pipeline in political gridlock again

      Biden signs 15 orders in sweeping erasure of Trump acts

      Biden signs 15 orders in sweeping erasure of Trump acts

      Baghdad to pump oil to Beirut in 2021

      Baghdad to pump oil to Beirut in 2021

      Qatargas delivers first commercial LNG to Philippines

      Qatargas delivers first commercial LNG to Philippines

  • World
    • Turkey
      Spot market natural gas prices for Thursday, Jan. 21

      Spot market natural gas prices for Thursday, Jan. 21

      Turkey's daily power consumption down 0.45% on Jan. 21

      Turkey's daily power consumption down 0.45% on Jan. 21

      2020 marks a year of highest gas flow via TANAP

      2020 marks a year of highest gas flow via TANAP

      US LNG vessel arrives in Turkey on Jan. 21

      US LNG vessel arrives in Turkey on Jan. 21

    • Europe
      Brent oil price down 0.18% for week ending Jan. 22

      Brent oil price down 0.18% for week ending Jan. 22

      Oil prices down as China tightens virus restrictions

      Oil prices down as China tightens virus restrictions

      Oil down over estimated rise in US stocks

      Oil down over estimated rise in US stocks

      Oil prices up as markets await higher stimulus in US

      Oil prices up as markets await higher stimulus in US

    • Eurasia
      Brent oil price down 0.18% for week ending Jan. 22

      Brent oil price down 0.18% for week ending Jan. 22

      Oil prices down as China tightens virus restrictions

      Oil prices down as China tightens virus restrictions

      Oil down over estimated rise in US stocks

      Oil down over estimated rise in US stocks

      Oil prices up as markets await higher stimulus in US

      Oil prices up as markets await higher stimulus in US

    • Asia
      Brent oil price down 0.18% for week ending Jan. 22

      Brent oil price down 0.18% for week ending Jan. 22

      Asian spot LNG prices jump due to cold weather, low gas stock

      Asian spot LNG prices jump due to cold weather, low gas stock

      Oil prices down as China tightens virus restrictions

      Oil prices down as China tightens virus restrictions

      S. Arabia becomes largest oil supplier to China in 2020

      S. Arabia becomes largest oil supplier to China in 2020

    • Americas
      US crude oil inventories rose for week ending Jan. 15

      US crude oil inventories rose for week ending Jan. 15

      Brent oil price down 0.18% for week ending Jan. 22

      Brent oil price down 0.18% for week ending Jan. 22

      Keystone XL pipeline in political gridlock again

      Keystone XL pipeline in political gridlock again

      Oil prices down as China tightens virus restrictions

      Oil prices down as China tightens virus restrictions

    • Middle East-Africa
      Brent oil price down 0.18% for week ending Jan. 22

      Brent oil price down 0.18% for week ending Jan. 22

      Oil prices down as China tightens virus restrictions

      Oil prices down as China tightens virus restrictions

      Israel concerned over Biden’s stance on Iran, Palestine

      Israel concerned over Biden’s stance on Iran, Palestine

      S. Arabia becomes largest oil supplier to China in 2020

      S. Arabia becomes largest oil supplier to China in 2020

  • Reports
  • other
    • News from companies
    • Energy Meetings
    • Video
  • Anadolu Agency

Oil ends rally with forecast rise in US crude stocks

- Crude prices soared by more than 2% on previous session with US dollar index hitting lowest level since March

home > Downstream, Stock Market, Energy Security, Europe, Americas 22.07.2020 10:30

Oil ends rally with forecast rise in US crude stocks

Oil prices were down on Wednesday to end their rally from the previous session as a forecast increase in US crude oil inventories reignited fears of a supply glut on the global oil market.

International benchmark Brent crude was trading at $44.11 per barrel at 0650 GMT on Wednesday for a 0.47% loss after closing Tuesday at $44.32 a barrel.

American benchmark West Texas Intermediate was at $41.65 a barrel at the same time for a 0.74% decline after ending the previous session at $41.96 per barrel.

On Tuesday, Brent crude gained 2.4% and WTI soared by 2.8% after the US dollar index, which includes the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc, fell to its lowest level since March 9 this year to $95.05.

The steep index decline offered cheap dollar opportunities for oil-importing countries that purchased more crude inventories causing oil price rises.

Prices were further supported in Europe with the decision early Tuesday of European Union (EU) leaders to provide a €750 billion ($858 billion) coronavirus relief fund for EU countries.

However, the American Petroleum Institute (API) announced later Tuesday its estimation that US crude oil inventories increased by 7.5 million barrels for the week ending July 17, which renewed fears that the supply glut could last until at least the end of 2020.

On the demand side, the rising number of novel coronavirus (COVID-19) cases throughout the globe dims the outlook for global oil demand, thus dragging down prices.

The total number of COVID-19 cases in the world has reached 14.9 million, according to the latest data from Johns Hopkins University.

The US continues to lead with the most cases at 3.9 million, followed by Brazil with more than 2.1 million cases, while India has the third highest with almost 1.2 million cases.

By Ovunc Kutlu

Anadolu Agency

energy@aa.com.tr


related news

Brent oil price down 0.18% for week ending Jan. 22
Oil prices down as China tightens virus restrictions
Oil down over estimated rise in US stocks
Biden signs 15 orders in sweeping erasure of Trump acts
Oil prices up as markets await higher stimulus in US
Total's exit from API politically motivated: Experts
Facebook Facebook Twitter Google LinkedIn

ExxonMobil makes first discovery offshore Suriname

- Evaluation of Sloanea-1 exploration well in offshore Block 52 is ongoing to determine its resource potential, says company
13.12.2020 Oil , Upstream , Downstream , News from companies

US oil rig count rises by four for week ending Oct. 9

- Number of oil rigs in US declined by a total of 519 from year ago
10.10.2020 Oil , Downstream , Americas

Lundin upgrades Edvard Grieg field reserve estimates

- Company expects 90% more reserves, and will extend production period up to 2023
01.10.2020 Oil , Downstream , World , Europe

Norway's Equinor discovers oil and gas in North Sea

- Estimated recoverable resources are between 13 and 38 million barrels of oil equivalent
01.10.2020 Downstream , World , Europe

Oil prices down with US crude stock buildup estimates

- Crude oil inventories in US are expected to rise by 3 million barrels for week ending Sept. 4
11.09.2020 Oil , Downstream , Americas

S. Arabia, Iraq discuss efforts to stabilize oil market

- S. Arabian energy min. and Iraqi PM stress compliance to OPEC+ pact, and compensation mechanism to meet targeted production
21.08.2020 Downstream , Oil , Middle East-Africa

Brent oil prices up as US economy signals recovery

- US records lowest numbers of jobless claims since mid-March
14.08.2020 Oil , Downstream , World , Europe , Eurasia , Asia , Americas , Middle East-Africa

US gasoline supply post largest monthly rise since 1945

- Easing stay-at-home orders cause rise in gasoline use, but jet fuel demand remains low with weak commercial air travel
14.08.2020 Downstream , Energy Security , Americas

US crude oil inventories fall more than expected

- Commercial crude oil stocks fall by 4.5 million barrels, exceeding market forecast of 2.9 million barrels decrease
13.08.2020 Downstream , Europe , Eurasia , Asia , Americas , Middle East-Africa

Brent oil $45 a barrel as markets await US relief bill

- US Treasury Secretary Steven Mnuchin says a deal could be reached this week
11.08.2020 Downstream , Stock Market , Energy Security , Americas

Libya welcomes US sanctions on oil smuggler network

- Competition for control of smuggling routes, oil facilities deprives Libyan people of economic resources, US Treasury Department says
07.08.2020 Downstream , Energy Security , Americas , Middle East-Africa

Forty US firms reduce asset value by $48B in 1st qtr.

- The 40 publicly traded oil companies produce about 30% of all US liquids production in first quarter
29.07.2020 Downstream , Projects , Energy Security , Americas

Oil mixed as US dollar plunge ends and virus cases rise

- After recording lowest rate since June 2018, US dollar index was up 0.3% with $1 trillion stimulus package introduced in US
29.07.2020 Downstream , Stock Market , Energy Security , Americas

Oil up with low dollar index and US-China tension

- Escalating tensions between US and China reignite fears of poor economic activity and low oil demand
28.07.2020 Downstream , Stock Market , International Relations , Asia , Americas

Oil prices head for 1% weekly gain with weak US dollar

- US dollar index declines in 10 of last 11 trading days, offering cheaper prices for oil importers and raising their demand
26.07.2020 Downstream , Stock Market , Energy Security , Americas

Oil prices steady as weak dollar balances low demand

-Importers benefit from weak US dollar which hit lowest level since Sep. 2018 to offset low demand from rising COVID-19 cases
24.07.2020 Downstream , Stock Market , Energy Security , Americas

Oil prices up as weak US dollar spurs higher demand

- US dollar index at lowest level of four and a half months
24.07.2020 Downstream , Stock Market , Energy Security , Americas

Oil ends rally with forecast rise in US crude stocks

- Crude prices soared by more than 2% on previous session with US dollar index hitting lowest level since March
23.07.2020 Downstream , Stock Market , Energy Security , Europe , Americas

US petroleum demand to remain low until August 2021

- US consumption of liquid fuels in April reached all-time monthly low since early 1980s
22.07.2020 Downstream , Energy Security , Americas

Oil prices up as EU agrees on budget, coronavirus aid

- Investors hopeful that €750 billion relief package will restart European economy and boost oil consumption on continent
22.07.2020 Downstream , Stock Market , International Organization , Europe , Americas

Oil prices down with rising coronavirus cases worldwide

- Rising COVID-19 cases weakens world economic outlook and oil demand, implying oil consumption will likely remain low
21.07.2020 Downstream , Stock Market , Energy Security , Asia , Americas

Oil prices down with record new virus cases in US state

- Rising number of COVID-19 cases lowers economic recovery outlook and oil consumption in US
13.07.2020 Downstream , Stock Market , Energy Security , Americas

Oil prices down with record new COVID-19 cases globally

- Daily number of coronavirus cases in world spiked by 223,230 on Thursday to break single-day record
10.07.2020 Downstream , Stock Market , Energy Security , Asia , Americas

Oil prices down with surprise rise in US crude stocks

- On demand side, risks over a second wave of COVID-19 continue to keep outlook for global oil demand weak
09.07.2020 Downstream , Stock Market , Energy Security , Americas

Oil down with more COVID-19 cases in key US states

- Number of COVID-19 cases in California, Texas, Florida are each above 200,000 mark
07.07.2020 Downstream , Stock Market , Energy Security , Americas

Swedish Tethys Oil signs exploration deal offshore Oman

- In case of any commercial oil or gas discovery, agreement will be transformed into 15-year production license, company says
07.07.2020 Downstream , Downstream , Europe , Middle East-Africa

Oil prices down with record new COVID-19 cases in US

- Record number of new cases in world's biggest oil consumer indicates that oil demand is likely to remain low in 3rd quarter
03.07.2020 Downstream , Stock Market , Energy Security , Americas

Goldman Sachs expects full oil demand recovery in 2022

- Global oil demand to decline by 8% in 2020, and increase by 6% in 2021
02.07.2020 Downstream , Energy Security , Asia , Americas

Oil prices gain as demand picks up with summer season

- With rise in gasoline and diesel consumption, global oil demand begins to pick up
26.06.2020 Downstream , Stock Market , Europe , Asia , Americas

Oil prices steady despite US-China trade tension

- Sino-American relations could be hurt if US firms are not allowed to compete fairly in China, US Treasury Secretary warns
24.06.2020 Downstream , Stock Market , International Relations , Asia , Americas

Gasoline accounts for half of US oil consumption in '19

- US consumed more than 20 million barrels per day of petroleum last year, with motor gasoline taking the majority share
24.06.2020 Downstream , Americas

Oil down with US-China tension, second wave virus risk

- White House trade advisor Peter Navarro points to 'lack of trust' between China and US
24.06.2020 Downstream , Stock Market , International Relations , Asia , Americas

Oil prices down with rising virus cases in key US states

- Recent spike in new COVID-19 cases in US threatens overall oil demand in world's biggest oil-consuming country
23.06.2020 Downstream , Stock Market , Energy Security , Americas

Oil prices fall with rising virus cases in US, China

- These countries are world's two largest oil consumers
16.06.2020 Downstream , Stock Market , Energy Security , Asia , Americas

Oil prices down with worries over second COVID-19 wave

- Fears of a second-wave sends US indexes plummeting more than 5% with Dow Jones falling the most by 6.9%
12.06.2020 Downstream , Stock Market , Energy Security , Americas

Russia: 4 arrested over major fuel leak

- Nornikel's top management, responsible for power plant that caused disaster, excluded from investigation
12.06.2020 Oil , Downstream , Renewable , Energy Security

Oil prices down with surprise US gasoline stock buildup

- On supply side, OPEC+ widely expected to extend current production curb into second half of 2020
05.06.2020 Downstream , Stock Market , International Organization , Americas

Brent crude price up with decline in US gasoline stocks

- Fall in US gasoline inventories suggests consumer demand is picking up
29.05.2020 Downstream , Stock Market , Americas

Oil prices down with oversupply, low demand

- Investors await gradual lifting of quarantine measures of major economies for uptake in global oil demand
27.05.2020 Downstream , Stock Market , Americas

Over 200 US firms file for bankruptcy amid low prices

- 'Loss of drilling revenue is more than $60 billion to the industry,' an expert in Houston says
27.05.2020 Oil , Finance , Downstream , Americas , Middle East-Africa

FILE - US reigning champion in oil, natural gas

- US becomes world's largest crude oil and natural gas producer because of shale revolution
24.05.2020 Oil , Downstream , Americas

US oil rig count falls tenth week in a row

- In the past ten weeks, the decline in US oil rig count totaled 446, according to the data
24.05.2020 Finance , Downstream , Americas

Oil loses most of weekly gains with US-China tension

- World's two largest economies at forefront of global economic slowdown, weakening oil consumption
23.05.2020 Downstream , Stock Market , International Relations , Asia , Americas

Oil prices down with lack of growth outlook in China

- China does not set economic growth target for 2020 amid "big uncertainties in economy and trade"
22.05.2020 Downstream , Stock Market , Energy Security , Asia

Oil prices remain low with virus-related low demand

- Global oil consumption is expected to increase once countries soften quarantine measures against COVID-19
14.05.2020 Downstream , Energy Security , Europe , Asia , Americas

Oil prices up as softer quarantine measures rise demand

- Price of Brent crude gains more than 3%
09.05.2020 Downstream , Stock Market , Energy Security , Europe , Americas

Oil prices up with optimism over easing of lockdowns

- Investors are optimistic that reopening of major economies will increase oil consumption
05.05.2020 Downstream , Stock Market , Energy Security , Europe , Asia , Americas

Oil prices sees slight fall with oversupply concerns

- Due to coronavirus-related cumulative rising supply, oil producers are desperately seeking additional storage
27.04.2020 Oil , Finance , Downstream , Americas , Middle East-Africa

US oil rig count falls sixth week in a row

- In the past six weeks, the decline in oil rig count in the U.S. totaled 305
27.04.2020 Oil , Downstream , Americas

Global oil production up in March 2020

- OPEC crude demand in 2020 is forecast at 24.5 million barrels per day, around 5.4 million barrels per day lower than 2019
17.04.2020 Oil , Finance , Downstream

Global oil demand to drop by record 29 mbpd in April

- This month could go down as 'Black April' in global oil industry, IEA head says
15.04.2020 Oil , Downstream , International Organization

Exxon Mobil cuts 2020 capital expenditure by 30%

- Biggest share drop in capital spending will be in Permian Basin in Texas with decline in drilling pace and well completions
08.04.2020 Oil , Upstream , Downstream

Total, Apache make new oil discovery in Suriname

- Discovery of Sapakara West-1 follows first find at Maka Central-1 in same region
03.04.2020 Oil , Downstream , World

Fitch lowers oil price forecast on Covid-19, oversupply

- Brent crude expected to average $35 a barrel this year, down from previous estimate of $41 a barrel
03.04.2020 Downstream , Stock Market , International Organization , Americas

US, Russia energy ministers discuss oil market

- Two energy officials discuss volatility in prices, oil market developments
02.04.2020 Downstream , Stock Market , International Relations , Eurasia , Americas

MENA oil exporters to see $192B income fall in 2020: IIF

- Quarantines, disruption in supply chains, travel restrictions, business closings point to recession in MENA region
30.03.2020 Downstream , Invesments , International Organization , Middle East-Africa

Brent oil price hits $23 per barrel, lowest in 17 years

- International benchmark hit lowest level since November 2002
31.03.2020 Downstream , Stock Market , Energy Security , Americas , Middle East-Africa

Brent oil up with sharp decline in US oil rig count

- Crude output in US can decline in following weeks to help trimming some of oversupply in market
30.03.2020 Downstream , Stock Market , Americas

Oil heads for weekly loss with virus fears, oversupply

- US House of Representatives to vote later Friday on $2 trillion stimulus bill
28.03.2020 Downstream , Stock Market , International Organization , Americas

Turkey's oil imports up 12.7% in January 2020

- Production of oil refinery products increases by 23.72% to 2.88 million tonnes in January 2020
28.03.2020 Oil , Downstream , Refining/Petro Chemistry , International Organization , Energy Projects , Turkey

Oil up with G20's $5 trillion pledge, weak US dollar

- G20 undertaking 'immediate and vigorous measures' to support economies, sectors most affected by virus
27.03.2020 Downstream , Invesments , International Organization , Americas

Oil prices to remain low through 2020: Moody's

- High uncertainty about pace of recovery in demand may cause oil prices to remain weak in 2021
27.03.2020 Downstream , Stock Market , Energy Security , Americas

Global oil demand forecast to fall 4.9% in 2020: Rystad

- Month of April to take biggest hit as global oil demand estimated to fall by 16%
27.03.2020 Downstream , Energy Security , Asia

Oil down despite US Senate passes $2 trillion package

- Stimulus bill could increase US' crude consumption, and then global oil demand, which remained low due to Covid-19
27.03.2020 Downstream , Oil , International Organization , Americas

Lower oil price to weaken oil-exporters credit profiles

- Fiscal revenues, exports of some countries will decline by more than 10% of GDP, says global rating agency
26.03.2020 Upstream , Downstream , Oil

Shell to cut spending by $5 billion in 2020

- Company will also suspend its plan to buy back $25 billion worth of shares
25.03.2020 Upstream , Downstream , Oil

Covid-19 and oil shock to hurt ratings: Moody's

- Disruption of economic activity to last through June, but some recovery expected in second half of 2020, agency says
25.03.2020 Downstream , Invesments , Americas

Barclays lowers 2020 oil price forecast by $12 a barrel

- Brent crude estimated to average $31 per barrel this year
25.03.2020 Downstream , Stock Market , Europe

Oil prices gain with decline in US dollar index

- American dollar index down after US Senate fails to pass coronavirus support package
24.03.2020 Downstream , Projects , Americas

S. Aramco makes preventive plans to sustain supply: CEO

-"We developed emergency plans to meet needs of customers around world," says company president
24.03.2020 Upstream , Downstream , Transportation/Fuel Oil , Oil

‘Crude oil to outrun storage capacity in few months’

- Production outstrips demand by 6 million barrels per day, equal to 2 billion barrels storage needed in 2020: Rystad Energy
23.03.2020 Upstream , Downstream , Refining/Petro Chemistry

Texas plans huge oil output cut for 1st time since 1972

- US shale companies have cut as much as 50% of planned spending due to falling demand since OPEC+ deal breakdown
21.03.2020 Upstream , Downstream , Oil

Saudis to raise oil export to record 10M barrels a day

-Move comes after Riyadh announces tapping of new Fadhili gas field to compensate for 250,000 barrels of oil consumption
18.03.2020 Downstream , Transportation/Fuel Oil , Oil

Developing states to lose up to 85% oil, gas pay in '20

- Heads of International Energy Agency, Organization of Petroleum Exporting Countries discuss global oil markets over phone
18.03.2020 Upstream , Downstream , Refining/Petro Chemistry

Oil down despite second US Federal Reserve rate cut

- Central bank also launches $700 billion quantitative easing program to support economy
16.03.2020 Downstream , Stock Market , International Organization , Americas

Turkey: 4 fuel firms fined for violating competition law

- Companies include Shell&Turcas Petrol, BP, Petrol Ofisi, OPET, which supply fuel and gasoline to many gas stations all over Turkey
14.03.2020 Downstream , Oil , Turkey

Coronavirus, oil shock to strain MENA region: Fitch

- Rating agency estimates oil price drop of $10 a barrel will affect government revenues by 2% to 4%
11.03.2020 Downstream , Invesments , Middle East-Africa

Low oil prices increase financial risks: Moody’s

- International credit rating agency says it expects oil, gas companies to actively manage their liquidity in 2020
11.03.2020 Downstream , Invesments , Americas

Coronavirus pushes Brent oil to lowest in 31 months

- Benchmark loses 32.5% since Jan. 8, 2020
05.03.2020 Downstream , Stock Market , Energy Security , Asia , Middle East-Africa

Oil down with focus on deeper OPEC cut amid coronavirus

- Oil posts largest daily gains from previous trading session since September 2019
04.03.2020 Downstream , Stock Market , Energy Security , Asia

Brent oil heads for biggest weekly decline in 4 years

- Benchmark to post largest weekly loss since January 2016
29.02.2020 Downstream , Stock Market , Energy Security , Europe , Asia , Americas

Rystad revises down oil price forecast amid coronavirus

- Downside risk to oil prices unless minimum 1 million bpd of oil removed from market, research firm says
29.02.2020 Downstream , Stock Market , Energy Security , Europe , Asia

Oil posts losses as virus worries cause low demand

- Oil consumption in Asian and European countries expected to remain low due to weak economic activity in first half of 2020
29.02.2020 Downstream , Stock Market , Energy Security , Europe , Asia

Oil prices hit 14-month low with coronavirus fears

- Brent oil price hits lowest level since Dec. 28, 2018
28.02.2020 Downstream , Stock Market , International Organization , Europe , Asia

Oil prices remain low with coronavirus spread

- Coronavirus spreads to more than 30 other countries, keeping global oil demand low
27.02.2020 Downstream , Stock Market , Energy Security , Europe , Asia

Oil prices rebound from coronavirus fears

- Brent and WTI decrease by around 1.2% on previous session
26.02.2020 Downstream , Stock Market , Energy Security , Asia

Oil set for weekly gain with virus rebound, Libya risks

- This marks second consecutive weekly gain for oil prices as they reach their highest levels since Jan. 29
22.02.2020 Downstream , Stock Market , Energy Security , Asia , Middle East-Africa

Oil prices down with rising US crude stock, coronavirus

- Low global oil demand expectations remain strong due to COVID-19
21.02.2020 Downstream , Stock Market , Asia

Global fuel demand growth revised down amid coronavirus

- Global liquid fuels demand to average 101.7 million bpd in 2020, 378,000 bpd less than EIA's previous forecast in January
21.02.2020 Downstream , Energy Security , Asia

Oil prices gain with supply fears over Libya, Rosneft

- Missiles struck close to highly explosive LPG tanker in Tripoli
20.02.2020 Downstream , Stock Market , Energy Security , Middle East-Africa

Oil prices down with rising coronavirus cases

- Death toll in China from coronavirus outbreak increases to 1,869
19.02.2020 Downstream , Stock Market , Asia

Oil heads for 5% weekly gain as coronavirus fears ease

- Most reported cases are going back over days and weeks, WHO says
15.02.2020 Downstream , Stock Market , International Organization , Asia

More OPEC cuts will fail to curb glut due to coronavirus

-Economic shut-down in China from coronavirus will cause largest negative oil demand shock since 2008, says Rystad Energy
16.02.2020 Downstream , International Organization , Asia

Oil prices remain under pressure with coronavirus woes

- Death toll in China from coronavirus outbreak rises to 1,381
14.02.2020 Downstream , Stock Market , Asia

Coronavirus to delay global recovery, cause oil surplus

- World GDP may contract by 1% in 1Q20, which would be first quarter-to-quarter contraction since 1Q09
14.02.2020 Downstream , Invesments , Energy Security , Asia

US projected to become net oil exporter by 2050

- World's largest oil importer to export more crude if it produces more and oil prices increase
13.02.2020 Downstream , Americas

Oil loses gains as coronavirus deaths reach daily high

- Number of deaths climbed by daily record of 242 in China's Hubei province
14.02.2020 Downstream , Stock Market , Asia

Oil up as coronavirus cases slow to support demand

- Number of new cases marks slowest growth rate since Jan. 31
12.02.2020 Downstream , Stock Market , Energy Security , Asia

Oil up with possibility of OPEC extending output cut

- Coronavirus 'has had a negative impact on oil demand and oil markets,' OPEC president says
12.02.2020 Downstream , Stock Market , International Organization , Asia , Middle East-Africa

Halliburton, Socar AQS agree to joint venture in Azerbaijan

- The JV will provide oilfield products and services with operations start expected for the second quarter of 2020
11.02.2020 Downstream , Downstream , Energy Projects , Eurasia
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11

  • Oil ends rally with forecast rise in US crude stocks
1 / 1

Oil ends rally with forecast rise in US crude stocks

  • up
Anadolu Agency

Corporate

  • History
  • Editorial Guideliness
  • Social Media Policies
  • Executive Team
  • Domestic Offices
  • International Offices
  • Media Center
  • Contact
  • Quality Management
  • Privacy and Cookies Policy
  • Information Policy
  • Diary
  • Coronavirus Infection Map
  • Subscription Requests
  • Announcement Service

  • Company News
  • Finance Terminal
  • Anadolu Images
  • Energy Terminal
  • News Academy

mobile services

  • IPhone Application
  • IPad Application
  • Android Application
  • Windows Application
We use cookies in a limited and restricted manner for specific purposes. For more details, you can see "our data policy".
Accept
© Anadolu Agency 2021