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Tag Archives: Oil price war

Oil Heavyweights Look Ready for a Showdown

Two politicians shaking hands. Observers in background

BLOOMBERG, SEPTEMBER 27, 2020 Saudi Arabia and Russia don’t agree on how to approach faltering oil demand. We’ve already seen where such a standoff can lead. By Julian Lee for Bloomberg – Oil producers could be set for another showdown before the end of the year, with heavyweights Saudi Arabia and Russia holding different views on how to approach the halting recovery in oil demand. …

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The Secret Weapon Giving Mexico Upperhand in the Oil-Price War

Oil refinery

BLOOMBERG, APRIL 11, 2020 Mexico’s hedge strengthens its hand as negotiations drag on | The option could hand Mexico a multi-billion-dollar payout By Javier Blas and Amy Stillman for Bloomberg – As Mexico and Saudi Arabia fight over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall Street hedge shielding it from low prices. With talks …

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OPEC+ meeting delayed as Saudi Arabia and Russia argue over oil price collapse

Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russia's Energy Minister Alexander Novak are seen at the beginning of an OPEC and Non-OPEC meeting in Vienna

REUTERS, APRIL 4, 2020 DUBAI/MOSCOW (Reuters) – OPEC and Russia have postponed a Monday meeting to discuss oil output cuts until April 9, OPEC sources said on Saturday, as a dispute between Moscow and Saudi Arabia over who is to blame for plunging crude prices intensified. The delay came amid pressure from U.S. President Donald Trump for the Organization of …

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“FALSE,” says Kremlin as it calls out Trump. “No oil production cuts agreed”

PHOTO: Kremlin Spokesman Dmitry Peskov seen here with Russia President Putin

PortandTerminal.com, April 2, 2020 Russia: Oil Producing Countries Not Discussing Any New Deal  WASHINGTON – President Trump on Thursday said he had spoken to Saudi crown prince Mohammed bin Salman (MBS). The President said via Tweet that the Saudi Prince had been in contact with Russian President Putin to discuss oil production cutbacks. Just spoke to my friend MBS (Crown …

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First North American Refinery Shuts With Fuel Demand Plunging

Aerial view of an oil terminal taken at night

BLOOMBERG, March 30, 2020 North Atlantic idling the Come by Chance plant, VOCM reports | Valero, Phillips 66, Suncor among refiners slowing down By David Marino for Bloomberg – Newfoundland’s only refinery is shutting down, the first North American fuel maker to be idled as the coronavirus outbreak crushes demand worldwide. North Atlantic Refining Ltd. will idle the Come by Chance …

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