Oil giant, Saudi Arabia, records $29bn deficit in Q2 as oil demand continues to fall
World oil-producing giant, Saudi Arabia, has recorded an oil revenue deficit of $29 billion for the second quarter of the year due to
Oil up on weaker dollar, high U.S. inventory
Oil prices rose on Thursday on the back of a weaker dollar, but gains were capped by concerns about rising U.S. oil inventories and a
Oil prices fall as COVID-19 infections rise
Oil prices, on Monday, fell as coronavirus cases increase in many countries of the world. However, investors remained cautiously
Oil prices fall as demand outlook worsens in US
Oil prices fell early on Friday amid surging new coronavirus infections in the United States, which had market participants worried
Oil prices drop on prospect of returning Libyan supplies
Oil prices fell on Tuesday amid rising COVID-19 cases and a possible return of Libyan oil production, which has been down to a trickle
Oil gains amid status of trade deal and Covid-19 pandemic
Oil gained on Tuesday even in the middle of confusing arising from the status of the trade deal between the U.S. and China. Prices
Optimism around OPEC+ output pact lifts oil prices
Oil producing nations have something to cheer about as oil prices rose on Monday as indications of increase in demand for crude oil
Oil rebound eases concerns about devaluation of Nigeria’s naira
The rebound in oil prices has given Nigeria’s naira a reprieve, easing investors’ concern that a steep devaluation may be unavoidable.
Brent oil rises to $40 amid hopes for recovery
Oil rose on Wednesday, with Brent at $40 for the first time since March, as optimism mounted that major producers will extend
Oil up nearly 3% ahead of OPEC+ meeting and on easing lockdowns
Oil prices climbed about $1 a barrel on Tuesday on hopes that major crude producers will agree to extend output cuts during a video