Edition:
United Kingdom

Ahmad Ghaddar

Oil down nearly 4% as virus surge weighs on demand outlook

30 Jul 2020

LONDON Oil prices fell by around 4% on Thursday, as surging coronavirus infections around the world threatened to jeopardise a recovery in fuel demand just as major oil producers are set to raise output.

UPDATE 5-Oil down nearly 4% as virus surge weighs on demand outlook

30 Jul 2020

* U.S. economy contracts at steepest rate since Great Depression (Adds details, updates prices)

Coronavirus surge, renewed lockdowns fan fresh worries about global fuel demand

17 Jul 2020

LONDON/NEW YORK Surges in coronavirus infections are slowing a recovery in fuel use from the doldrums of lockdowns in the United States and other countries, raising concern it could be years before consumption rebounds from the impact of the pandemic.

Libya lifts exports force majeure but says output recovery to be slow

10 Jul 2020

TUNIS/LONDON Libya's National Oil Corporation (NOC) lifted force majeure on all oil exports on Friday as a Vitol tanker loaded at Es Sider after a half-year blockade by eastern forces, but said technical problems caused by the shutdown would keep output low.

UPDATE 2-Libya lifts exports force majeure but says output recovery to be slow

10 Jul 2020

TUNIS/LONDON, July 10 Libya's National Oil Corporation (NOC) lifted force majeure on all oil exports on Friday as a Vitol tanker loaded at Es Sider after a half-year blockade by eastern forces, but said technical problems caused by the shutdown would keep output low.

Libya lifts Es Sider force majeure, oil exports yet to resume

08 Jul 2020

CAIRO/LONDON Libya's National Oil Corporation (NOC) on Wednesday lifted force majeure at the Es Sider oil terminal, but said guards had blocked a tanker from loading, preventing a resumption of exports.

UPDATE 5-Libya lifts Es Sider force majeure, oil exports yet to resume

08 Jul 2020

CAIRO/LONDON, July 8 Libya's National Oil Corporation (NOC) on Wednesday lifted force majeure at the Es Sider oil terminal, but said guards had blocked a tanker from loading, preventing a resumption of exports.

Angola agrees to comply fully with oil cuts after OPEC pressure, sources say

07 Jul 2020

DUBAI/ LONDON Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July to September, two OPEC sources said.

Angola agrees to comply fully with oil cuts after OPEC pressure, sources say

07 Jul 2020

DUBAI/ LONDON, July 7 Angola has agreed with OPEC to comply fully with a global pact on supply curbs and will compensate for previous overproduction by cutting more from July to September, two OPEC sources said.

Pandemic hastens threat of closure for struggling oil refineries

02 Jul 2020

LONDON/NEW YORK The collapse in oil demand from the COVID-19 pandemic is hastening the reckoning for those refiners already struggling as new capacity overtakes demand, posing an existential threat to many, particularly Europe's ageing plants.

World News