UK Plunges Into Recession as GDP Shrinks by Record 20.4% in Q2

The pandemic has caused a major crisis in the country, with thousands of Britons losing their jobs amid mass layoffs. According to the National Institute of Economic and Social Research (NIESR), the unemployment rate...

Robinhood Investors Have A New Favorite Oil Stock

By Julianne Geiger If COVID has solidified one thing, it is that playing the market must be democratic. And as always in a democracy, people get what they deserve: That means we are seeing tons of...

Lull In Trading Keeps Oil Prices Range-Bound

By Irina Slav A seasonal lull in oil trading has kept price movements largely range-bound recently, but this can still change this week as OPEC and the International Energy Agency are due to release their latest...

How COVID-19 Completely Disrupted Car Markets

By Julianne Geiger The coronavirus pandemic has already destroyed oil demand growth. It has dented oil demand. It has sent oil and gas companies under. It has stymied exploration and production the world over, and triggered...

China To Expand Its Influence In The Middle East With Major Oil Deal

By Simon Watkins China continues to expand its influence in the Middle East through oil and infrastructure deals, and the latest deal with ADNOC is a great example of how Beijing looks to grow its presence...

Has The Oil Market Finally Turned A Corner?

By Alex Kimani August has historically been brutal for oil and gas stocks. According to data from Schaeffer Research, the energy sector has consistently underperformed in August, with returns coming in negative in 8 of the...

Across The Board Draws Send Oil Prices Higher

By Julianne Geiger The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 4.401 million barrels for the week ending August 7. Analysts had predicted a modest inventory draw of 2.875-million barrels. In the...

Turkey’s central bank cuts cheap dealer funding in latest lira move: report

Turkey’s central bank will halt funding that had allowed primary dealers to borrow well below its policy rate of 8.25 percent, it said on Tuesday in the latest step to squeeze credit and try...

Treasury sees $4.4 bln cash deficit in July

The Turkish Treasury's cash balance this July posted a deficit of 30.8 billion Turkish liras ($4.4 billion), the Treasury and Finance Ministry said on Aug. 10. Cash revenues of the Treasury totaled 87 billion Turkish liras...

Turkish Central Bank zeros open market liquidity limits

The Turkish Central Bank will reduce to zero liquidity limits offered to primary dealers as part of open market operations, it announced on Aug. 11. The decision will be effective as of Aug. 12, the bank said in a...

Virus surge makes U.S. weak link in global economic recovery

FILE - In this Feb. 24, 2019 file photo, model Arizona Muse, left, is flanked by designer and Officina del Poggio owner Allison Hoeltzel Savini as they present a creation of the Officina del...

Asian shares extend rally; S&P 500 within 1% of record

FILE - In this Aug. 3, 2020, file photo, a woman wearing a face mask walks by an electronic stock board of a securities firm in Tokyo. Shares advanced in Asia on Tuesday, Aug....

Big Oil Forced To Change Strategy After The Oil Price Crash

By Tsvetana Paraskova In one of the most challenging quarters for the oil industry in recent memory, the five Big Oil firms wrote down nearly US$50 billion from the value of their oil and gas assets...

Russia Looks To Lure Shell Into New Arctic Oil Project

By Simon Watkins Central now to Russia’s hydrocarbons-related power is its Arctic sector oil and gas reserves. These comprise over 35,700 billion cubic metres of natural gas and over 2,300 million metric tons of oil and...

Green Hydrogen Prices Are Set To Drop By 50% During The Next Decades

By Irina Slav Hydrogen, the most abundant element in the universe, has been stealing the spotlight from EVs and renewables lately. From a sort of boutique car fuel a couple of decades ago, hydrogen has evolved...

OPEC’s No.2 Drags Down Output Cut Compliance Rate

By Julianne Geiger Since the landmark deal that saw OPEC+ agree to cut nearly 10 million barrels per day of oil production to clear the global gut created by the coronavirus pandemic and wreckless production on...

Here’s How Oil Could Skyrocket By 138%

By David Messler   The market is gradually beginning to give credence to something I've been discussing in past OilPrice articles for a long time now. In a June, 2020 article entitled, Underinvestment Could Send Oil Prices Soaring,...

Atlantic Basin Oil Supply Plunges To 8-Year Low

By Tsvetana Paraskova Western Europe’s largest oil producer, Norway, which is not officially part of the OPEC+ coalition, is cutting its oil production because of the slump in demand and prices and is likely to help...

Hong Kong goods for export to U.S. to be labelled made in China

Kanishka Singh (Reuters) - Goods made in Hong Kong for export to the United States will need to be labelled as made in China after Sept. 25, according to a U.S. government notice posted on...

UK suffers biggest job losses since 2009 as COVID hits

William Schomberg, David Milliken LONDON (Reuters) - The number of people in work in Britain fell by the most since 2009 in the three months through June as the coronavirus crisis took a heavy toll...