As Russia’s small oil producers struggle to survive a historic price crash, some say in private they wish they could just set their crude ablaze.
April 23, 2020Search
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Freight Groups Push for Inclusion in ‘Heroes Fund’
Two groups integral to the distribution of fuel in the country called on Congress to include them in a proposal that would provide essential personnel $25,000 in compensation during the pandemic.
April 21, 2020OPEC+ Ministers Hold Impromptu Call to Reflect on Price Rout
Oil ministers from the OPEC+ coalition held an unscheduled conference call on April 21 to discuss the collapse in crude prices, though a closing statement signaled they didn’t settle on any new policy measures.
April 21, 2020Oil Price Turns Negative in Historic First; Diesel’s Decline Continues
The price of oil dropped to its lowest level in history April 20, sinking into negative pricing as oil supplies are beginning to overwhelm the globe’s storage capacity.
April 20, 2020Montana Judge Blocks Keystone XL Permit for River Crossings
TC Energy Corp.’s Keystone XL oil-sands pipeline was dealt a setback with a judge’s ruling that the U.S. Army Corps of Engineers improperly approved a streamlined permit process without fully evaluating the impact on endangered species.
April 16, 2020Fuel Cell Experts Argue for Cleaner Commercial Trucks
The trucking industry needs to continue adopting electric technologies such as fuel cells in order to combat pollution, experts said April 14.
April 16, 2020Governors Ask Trump to Waive Biofuel Quotas Amid Pandemic
Five American governors are asking the Trump administration to waive U.S. biofuel-blending requirements, arguing the cost of complying with the mandates on top of coronavirus-spurred lockdowns pose a “severe economic harm” to the country.
April 16, 2020Oil Drops to 18-Year Low on Record Demand Collapse
Oil plunged to the lowest in two decades amid a record collapse in U.S. fuel demand and the biggest-ever weekly build in domestic crude supplies.
April 15, 2020Saudi Oil Keeps Flooding Market With Output Pact Yet to Begin
Saudi Arabia and other Gulf suppliers may have agreed to cut oil production again starting next month, but by all indications the taps are set to remain wide open until then — swelling stockpiles for at least a few more weeks.
April 15, 2020Trump Negotiating to Lease Oil Storage Space to Nine Companies
The U.S. Energy Department is negotiating with nine companies to rent about 23 million barrels of oil storage capacity in its Strategic Petroleum Reserve as part of a Trump administration bid to help drain the country’s growing glut of crude.
April 14, 2020