U.S. oil sank 10.1 percent on Friday, its largest drop in over five years. Coronavirus Threat Coupled with Saudi Oil Glut Sends Global Markets Into a Dive Wall Street Journal Find all the Latest Business News, Top News, Market Updates, Financial News Today from across the world by WSJ. Explore more on Livemint for Wall Street Journal latest updates, top headlines & more. The Wall Street Journal | Mar 4, 2020 at 6:01 PM Russia opposed a Saudi plan that would ask OPEC and its allies to make drastic crude-production cuts, people familiar with the matter said, as the coronavirus epidemic further erodes demand amid a global oil glut. David Bird, a reporter who covers energy markets for the Wall Street Journal, has been missing for nine days. Bird, who has worked for the parent of the Wall Street Journal, Dow Jones, for more than 20 years, left his Long Hill, New Jersey home on the afternoon of Saturday, January 11, telling his wife he was going for a walk.
The Wall Street Journal Oil glut makes drilling in Alaska reserves less attractive, even with tax bill's help
By Bradley Olson . The world's largest oil companies are feeling the financial pressure of a global decline in natural-gas prices. Exxon Mobil Corp. second-quarter profits fell 21% as diminished returns for gas and petrochemicals offset production growth in America's hottest oilfield, the Permian Basin of Texas and New Mexico. Joel Haynes is looking to sell the bales of hemp he has grown this season, but he says buyers are trying to underpay sellers. Photo: Andrea Morales for The Wall Street Journal By Arian Campo-Flores and Arian Campo-Flores The Wall Street Journal Biography @acampoflores Arian.Campo-Flores@dowjones.com Cameron McWhirter Cameron McWhirter The […] A news story from 2015 about the oil market stated, "the global glut of crude that has hit [oil] prices is starting to shrink." Source: Christopher Harder, "Investors Take Closer Look at Output," Wall Street Journal, May 18, 2015.-----a. In referring to a "global glut of crude," the article describes the result of a significant Oil Prices Fall as Supply Glut Concerns Persist. lower on Friday morning in Europe amid some skepticism that production will shift to a lower gear and reduce the global oil glut. (bpd) in June to just 1.5 million bpd in September, The Wall Street Journal reported earlier this week. Click Read More below for additional information. As a year of deep cuts in exploration and production amid an oil glut draws to a close, the oil industry is facing the contradictory possibility of a crude shortage, Georgi Kantchev and Bill Spindle report. "A big gap is forming in oil-industry investment," said Claudio Descalzi, chief executive of Italian energy company Eni SpA.
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Crude futures fell to near-one-month lows Monday, erasing earlier gains that were spurred by a political rift in the Middle East, before investors refocused on the supply-glut.
Still, The Wall Street Journal reported that U.S. oil industry regulators are set to open talks with OPEC over a potential truce on oil between the U.S., Saudi Arabia
Oil & Gas Industry. Natural-Gas Producers Hard Hit by Tanking Prices. The Wall Street Journal. - Sarah Toy. Supply glut drives down price, creates existential dilemma for gas-field companies It is going to take a heck of a winter to ease the pain for natural-gas investors and producers.
This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (August 3, 2019).The world's largest oil companies are feeling the financial pressure of a global decline in natural-gas prices.
13 Dec 2019 Despite the OPEC+ cuts, the oil market is still facing a supply surplus in 2020, would be largely in balance in 2020, albeit with a temporary glut in the early Sources include Reuters, TR IBES, WSJ, The Financial Times and 24 May 2019 End of 2018 an oil glut is reported to have helped contribute to the fact The Wall Street Journal: U.S. Oil Prices Fall Ahead of Inventory Report.
Energy reporter @WSJ @WSJMarkets. Reach me at firstname.lastname@example.org. Dozens of ships are acting as floating storage vats for oil and liquefied natural gas 29 Feb 2016 The nation has stored up so much crude that a Wall Street Journal article Oil drilling, like this offshore rig, is contributing to a glut of oil in the A glut of stored oil that helped keep prices low for years is almost gone, thanks to production cuts by OPEC and Russia, a humming global economy and a series of small but meaningful supply When oil prices started to edge down a year ago, most energy mavens thought the drop would be small and short-lived. Instead, the price of crude has plunged by almost 60% from its 2014 peak. Oil prices posted their biggest one-day drop in nearly two years Tuesday as a U.S.-led wave of crude has crashed into weak global demand, threatening the stability of some countries and providing Expected Surge in Oil Supply and Tariffs Add to Glut Concern U.S. benchmark for crude posts biggest drop in four years as Trump threatens new levies As the oil glut has sent prices to decade lows, plummeting investment by oil producers means fewer barrels will be pumped, and it could result in a shortage.