Reuters WASHINGTON – The Trump administration is seeking to ease a severe cash crunch in the drilling industry by raising loan limits available under a coronavirus stimulus package and by barring lenders from discriminating against drillers, according to Energy Secretary Dan Brouillette. The measures come as oil and gas companies working in shale basins from Texas to Wyoming struggle to
CNBC The historic deal reached by OPEC and its oil-producing allies to cut production has worked to “stem the tide, stem the damage that was being done to the market,” since the onset of the coronavirus pandemic and the Saudi Arabia-Russia oil price war, U.S. Energy Secretary Dan Brouillette told CNBC. Oil prices are down more than 55% year-to-date, having experienced the
Reuters WASHINGTON – U.S. Energy Secretary Dan Brouillette on Friday described a dire situation in global energy markets, saying that the coronavirus pandemic and massive oil surplus have created a lethal combination. “This is a time for all nations to seriously examine what each can do to correct the supply/demand imbalance,” Brouillette said in prepared remarks for Friday’s G20 meeting
Reuters LISBON (Reuters) – The coronavirus epidemic in China has had a marginal impact on energy markets and is unlikely to dramatically push up oil prices even if Chinese demand falls by 500,000 barrels per day, U.S. Energy Secretary Dan Brouillette told Reuters on Thursday. Brouillette cautioned, however, that there had been some “slowing” of Chinese energy purchases. He said
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