Sunday, December 15, 2024
Oil falls on weak economic data, demand concerns-oil and gas 360

Oil falls on weak economic data, demand concerns

CNBC Oil prices fell on Friday as news of President Donald Trump’s plans to ease the U.S. coronavirus lockdown to get the American economy moving again were quickly overshadowed by China’s worst quarterly economic contraction on record. U.S. crude for June fell 1%, or 26 cents, to trade at $25.28 per barrel. Brent rose 39 cents to trade at $28.21 per barrel. The

Canada offers C$2.5 billion in aid for hard-hit energy sector, plans to expand credit- oil and gas 360

Canada offers C$2.5 billion in aid for hard-hit energy sector, plans to expand credit

Reuters OTTAWA – Canada will invest around C$2.5 billion ($1.8 billion) in measures to help the hard-hit oil and gas industry and is working to ensure vulnerable firms have access to more credit, Prime Minister Justin Trudeau said on Friday. Canadian energy companies have urged Ottawa to free up credit and cash to help them cope with the coronavirus outbreak

Saudi Arabia’s oil exports to the US skyrocketed in the last month- oil and gas 360

Saudi Arabia’s oil exports to the US skyrocketed in the last month

CNBC Saudi Arabian oil exports to the U.S. more than doubled from February to March as oil prices crashed and American shale producers reeled over demand destruction from the coronavirus pandemic, data from analytics firm TankerTrackers.com shows. Saudi crude shipments to American ports went from an average of 366,000 barrels per day (bpd) in February to 829,540 bpd in March