The price of Brent crude oil surged over $10 early Monday. On the New York Mercantile Exchange, U.S. crude had risen $9.08 to $124.74 a barrel by late morning in Tokyo.
The coronavirus pandemic has deepened the oil crisis, which was facing problems with an abundance of supply and a disagreement over capping of supply between the OPEC +countries. O
The United States, which is heavily into shale oil production, is facing an abundance of supply that is at unsustainable levels with the crude prices so low.
The Crude Oil producers’ Cartel OPEC,, is expecting a record US$1,000B (aka US$1T) in export revenue, a historic landmark for the cartel, if Crude Oil prices remain higher than 1
With official data released on Friday regarding U.S growth, demonstrating that the world’s largest oil consumer had recovered much better than had previously been expected, oil
With heating oil and crude oil prices reaching 27-month highs as supplies of crude fell to the lowest level in 11 months, the scary prospect of $100-per-barrel oil almost became a