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

Global oil producers would welcome a demand recovery in China, the world’s top crude oil buyer, but not it may not be enough to alleviate a massive global supply glut

The crisis unleashed by the Coronavirus pandemic and the collapse of the international oil prices reactivated the debate on a new implementation of the so-called “Criollo barrel”

The preventive and compulsory social isolation ordered by the national government had an immediate effect on fuel demand, and oil and petrol stations registered an initial drop in sales of up to 85% across the country

The Organization of the Petroleum Exporting Countries stated that the world market for crude is undergoing an unprecedented jolt due to coronavirus mitigation measures that have decimated demand

Anglo-Dutch oil giant Royal Dutch Shell pledged to become carbon neutral by 2050, matching a commitment by rival BP as climate change looms large over the energy sector

The figure represents a decrease of 20% compared to the previous year, due to the inconveniences that the state oil company and the sector faced during the past year

Global oil demand will fall by a record amount this year as lockdown measures imposed to curb the coronavirus outbreak bring the economy to a virtual halt, the International Energy Agency stated

The Organization of the Petroleum Exporting Countries expects global demand to rise by just 60,000 barrels per day in 2020, a reduction of 920,000 from its previous forecast

The energy minister of Western Europe’s largest oil producer will announce its decision on whether to slash crude output soon, potentially adding its weight to a global push to shore up prices