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Business leader troubled by Saudi-Turkey trade tensions
- Politics aims to facilitate trade, but opposite being done, says head of exporter association
Brent oil price up 0.70% for week ending Oct. 16
- OPEC, IMF, Fitch Ratings and IEA release outlooks on future of oil with pessimistic views for 2020, slight recovery in 2021
US crude oil inventories fall in week ending Oct. 9
- Commercial crude oil stocks decrease by 3.8 million barrels compared to market forecast of around 2.8 million-barrel draw
China could reach net-zero target in "hybrid" pathway
- President Xi Jinping announced aim last month for China to achieve carbon neutrality before 2060
15.10.2020
Asia
Oil prices down on conclusive signs in strike in Norway
- Norwegian Oil and Gas Association warns 25% of hydrocarbon output on Norwegian shelf will be affected if strike continues
Oil prices slightly up as Hurricane Delta halts output
- Almost 29% of oil output is forced to shut down due to Hurricane Delta which is expected to reach Gulf of Mexico on Friday
US crude oil inventories rise for week ending Oct. 2
- Commercial crude oil stocks increase by 500,000 barrels compared to market forecast of around 400,000 million-barrel rise
US energy agency revises down oil price forecast
- Brent expected to drop by 4%, according to Energy Info. Administration's Short-Term Energy Outlook for October
Next US admin. to face huge economic hurdles: Moody’s
- Economic revival, China trade conflict, health care among challenges, says global rating agency
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US trade deficit soars in August to highest in 14 years
- Deficit with China decreased $1.9B but increased with Germany, Japan
Oil prices fall as Trump postpones virus stimulus talks
- US President Donald Trump says he called off negotiations for coronavirus stimulus deal until after elections
Oil prices up as Trump discharged from hospital
- US President Donald Trump was receiving treatment after he tested positive for COVID-19 last week
Oil prices up over news of Trump’s improving health
- US President Donald Trump has been receiving medical treatment since he tested positive last week
California solar generation drops 30% due to wildfires
- As of Sept. 28, 2020, California wildfires burned an estimated 3.6 million acres, an area about the size of Connecticut
Brent slightly up on optimism over US covid relief deal
- US Treasury Secretary Steven Mnuchin relays progress in talks with House Speaker Nancy Pelosi on stimulus bill
US crude oil inventories fall for week ending Sept. 25
- Commercial crude oil stocks decline by 2 million barrels compared to market forecast of around 1.4 million-barrel rise
Turkey's energy import bill down 34.5% in August 2020
- Country's energy bill decreases due to fall in country's crude oil purchases
Chinese firms worried about stocks on US markets
- US Senate bill wants 'to kick deceitful Chinese companies off US exchanges', but those firms have other markets to go
Oil prices decline as US stocks drop less than expected
- US crude oil inventories fall by 1.6 million barrels compared to market expectation of 2.3 million-barrel draw
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US crude oil inventories fall for week ending Sept. 18
- Commercial crude oil stocks decline by 1.6 million barrels compared to market forecast of around 2.3 million-barrel rise
US oil exports fall since record high in February: EIA
- Oil imports also decrease 12% in first half of 2020 following surge in Saudi Arabia’s crude oil production in April
Brent oil price up 7.02% for week ending Sept. 18
- OPEC+ meeting results in full commitment to oil cut agreement and compensation mechanism to ease oversupply concerns
UAE fully committed to OPEC deal: energy minister
- United Arab Emirates energy minister's remarks come during press conference following OPEC's 22nd Joint Ministerial Monitoring Committee
US crude oil inventories fall in week ending Sept. 11
- Commercial crude oil stocks decline by 4.4 million barrels compared to market forecast of around 1.3 million-barrel rise
Hitachi to quit suspended Horizon nuclear plant in UK
- Decision was taken as investment environment has become increasingly severe due to COVID-19, Hitachi says
US trade tariffs on China 'inconsistent' with WTO rules
- WTO says US tariffs on Chinese imports in 2018 were inconsistent with organization's rules
G20 economies see unprecedented shrinkage in Q2
- Among G20 countries, China records highest annual growth with 3.2%, while India sees largest annual fall with 23.5%
15.09.2020
World
Brent oil price down 5.16% for week ending Sept. 11
- Saudi Arabia’s decision to trim October prices for its sales to US and Asia causes sharp oil price decline