Crashing Fuel Demand Leads To Large Loss For This Big U.S. Refiner
U.S. refiner Valero Energy Corporation (NYSE: VLO) reported on Wednesday a net loss of $1.9 billion for Q1, compared to a profit for the same period last year, after?
Flooding Prompts Evacuation At Heart Of Canada's Oil Sands
The Regional Municipality of Wood Buffalo, which includes Fort McMurray ? the hub of Alberta's oil sands business ? has issued a?mandatory evacuation order?for all of downtown Fort McMurray?
Maduro Appoints One Of America's Most Wanted As New Oil Minister
Amid a worsening gasoline shortage and Chevron and Halliburton's imminent exit from Venezuela, the Nicolas Maduro government is looking to reverse the radical decline in its oil industry with two?
U.S. Oil Companies Begin Sending Crude To Strategic Petroleum Reserve
U.S. oil companies have started sending oil to the Strategic Petroleum Reserve, Bloomberg reports, citing a Department of Energy official.? According to the official, since the start of April, some?
Canada's Oil Firms Set To Curtail Output By At Least 1 Million Bpd
As Canadian oil firms prepare to start reporting what would surely be bleak Q1 earnings and short-term outlooks, analysts expect that the companies will announce curtailments in production to the?
Oil Storage Crisis Deepens As API Reports Very Large Crude Inventory Build
The American Petroleum Institute (API) estimated on Tuesday another large crude oil inventory build of 9.978 million barrels for the week ending April 24 as the demand destruction continues and?
$10 Oil Forces U.S. Drilling Giant To File For Bankruptcy
Diamond Offshore Drilling has filed for Chapter 11 bankruptcy protection, becoming the second major victim of the oil market crash so far, after Whiting Petroleum?filed?earlier this month. With a?
World's Largest Oil Fund Is Once Again Crashing Crude Markets
The United States Oil Fund (USO) is once again shaking up oil markets, and WTI is now down more than 21% on the day. The USO Fund's administration, USCF, announced?
Pemex Pulls Staff From Offshore Oil Platforms Over Coronavirus
Mexico's state-held oil firm Petroleos Mexicanos (Pemex)?said?on Sunday that it had started to reduce the number of oil workers at its offshore oil platforms to reduce the risk of?
Oklahoma Calls On Trump To Declare COVID-19 An ?Act Of God? To Help Oil Industry
Oklahoma Governor Kevin Stitt called on?U.S. President Donald Trump to declare the coronavirus pandemic an ?Act of God' to help oil firms in Oklahoma as they look to curtail?
