Covid-19 has led to a crisis in the global oil industry with a dramatic fall in prices and weak consumer demand creating difficulties for the upstream sector right now. Keith Tilley, CEO, Intoware, explains why companies must re-think their digital strategies or risk being left behind.
Oil prices rose a bit today, correcting some of yesterday’s losses, which were more a sign of shock on economic collapse figures. Nevertheless, traders brace for August, a month of returned production from OPEC+ amid stalled demand recovery.
Oil prices are falling today, with traders ignoring yesterday’s US crude stock news and acknowledging Covid-19’s threat to the demand recovery, while waiting for OPEC’s returned production to hit the market again.
Oil prices are seeing modest gains today as surprisingly high oil stock draws are expected in the US, but the rise is capped by concerns over a coming imbalance from August.
Oil prices remain largely stable but concerns abound, while the market braces for some OPEC+’s curtailed production to return soon.
Julian Pereira, TrendMiner, explores how use of data analytics can help oil and gas companies move to next levels of operational excellence and face volatile market pressures.
Oil prices fell on Monday, taking a hit by concerns over Covid-19’s continuous expansion and due to the latest US-China tensions saga.
Oil prices fell on Friday as the market is influenced by US-China relations and the continuous expansion of the pandemic.
Oil prices rose on Thursday as a weaker dollar helped oil purchases, but gains remained limited amid Covid-19 infection news and inventory build concerns.
Yannis Bassias, former President & CEO at Hellenic Hydrocarbon Resources Management (HHRM), talks about exploration in the Mediterranean, changes in the gas market, ultra-deepwater drilling, and explains why Greece “is not a declared gas province yet”.
Rystad analysis has suggested that oilfield service suppliers could diversify some oil and gas capabilities and replace up to 40% of 2019’s revenue by servicing the renewable markets.
Oil prices are losing some of yesterday’s gains as API reports an unexpected stock build in US crude inventories.
WorkfloPlus allows bespoke data reports to be created and shared to help streamline plant safety, compliance and save time.
Oil prices are having some modest gains today, supported by the EU recovery deal.
Oil prices fell today as the Covid-19 pandemic continues to expand, threatening the future of oil demand, in a market that is slowly trying to recover production levels.