Business, Fuel
Historic Oil Glut Amassed During Pandemic Dissipates
The unprecedented oil inventory glut that amassed during the coronavirus pandemic is almost gone, underpinning a price recovery that’s rescuing producers but vexing consumers.
Grant Smith and Julian Lee | Bloomberg News
April 19, 2021Business, Fuel
OPEC Production Plunges as Saudis Deliver Extra Oil Cutbacks
OPEC’s crude production plunged in February as Saudi Arabia delivered extra cutbacks intended to clear the remnants of a global supply glut.
Grant Smith and Julian Lee | Bloomberg News
March 2, 2021Government, Business, Fuel, Logistics
OPEC Cuts Output to Lowest Since 1991 as Virus Slams Oil Demand
OPEC slashed oil production to the lowest level since the Gulf War in 1991, as it escalated efforts to revive global markets just as a resurgence of the coronavirus is threatening demand again.
Grant Smith and Julian Lee | Bloomberg News
July 1, 2020Follow Us
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