The drop in oil demand by refiners at local level and the exports limited to a minimum at global level due to the coronavirus pandemic, pushed storage capacity to the limit in the producing provinces
The British giant said it slumped into a u$s4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil. "Our industry has been hit by supply and demand shocks on a scale never seen before," BP's CEO stated
OPEC+ oil-producing countries kept December production targets steady, confirming expectations that more policy adjustments will not occur until next year, as the group continues to struggle with export disruptions from the Iran war
BP posted a record quarterly net profit, beating expectations as the Iran war boosted prices and refining margins, and said it would use the windfall to settle its remaining Deepwater Horizon liabilities
The deal, announced in August by the administration of President Donald Trump and the government of Venezuela’s interim president, Delcy Rodríguez, grants NABEP drilling rights for 100 years across 17 oil fields
The International Energy Agency is ready to coordinate more emergency oil releases by member countries if needed, while it spurs the release of diesel under existing plans to help cool surging prices
Brazilian state-owned oil company Petrobras produced an average of 3.359 million barrels of oil equivalent (boe) per day in the first nine months of 2026, up 13.9% from the same period in 2025
The US Export-Import Bank plans to fund up to $7 billion worth of critical minerals and energy projects in Argentina, as part of a push to deepen economic cooperation between Washington and Buenos Aires
Bank of America analysts have raised their estimates for Brent crude prices in the second half of 2026, citing ongoing geopolitical tensions. The bank lifted its forecast to $95 a barrel from $83 a barrel
