Oil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., in Tuapse, Russia, on Monday, March 23, 2020. Andrey Rudakov | Bloomberg | Getty Images The oil price bust may not be over. A historic demand shock sparked by the coronavirus pandemic is set to worsen in the current quarter, undermining any coordinated effort by heavyweight producers … [Read more...] about Oil prices could plunge below $20 a barrel this quarter as demand craters: CNBC survey
Ted Cruz, other senators, warn Saudis to stop using oil in 'economic warfare' against the US
Sen. Ted Cruz told CNBC on Monday he and eight other GOP senators recently ripped into the Saudi ambassador in a conference call over the oil price war with Russia that has threatened to put American producers out of business. In a "Squawk Box" interview, Cruz said the call with Princess Reema bint Bandar bin Sultan bin Abdulaziz Al Saud was "as candid a call, and … [Read more...] about Ted Cruz, other senators, warn Saudis to stop using oil in 'economic warfare' against the US
Plans are underway to build huge, floating offshore wind turbine in Europe
An illustration of how the turbine could look. Iberdrola Spanish utility Iberdrola is heading a consortium aiming to develop a large-scale floating offshore wind turbine in the North Sea, as the sector looks to drive up the size of technology and push down costs. In an announcement Monday, the firm said the turbine would be in excess of 10 megawatts (MW) and tested at the … [Read more...] about Plans are underway to build huge, floating offshore wind turbine in Europe
The US is set to lose its spot as world's top oil producer — and it 'doesn't have a lot of tools' to do anything about it
The U.S. is all but guaranteed to lose its hard-earned spot as the world's number one oil producer this year amid the recent price crash, vanishing demand and a plunge in capital investment, energy experts say. That could mean potentially enormous implications for U.S. foreign policy, as administrations have for decades viewed energy security and national security … [Read more...] about The US is set to lose its spot as world's top oil producer — and it 'doesn't have a lot of tools' to do anything about it
Goldman on how the 'largest economic shock of our lifetimes' will permanently alter energy markets
A picture taken on March 26, 2020, shows a car driving on a road next to the King Abdullah Financial City in the Saudi capital Riyadh, after the Kingdom began implementing an 11-hour nationwide curfew, on the day of an emergency G20 videoconference, to discuss a response to the COVID-19 crisis. (Photo by FAYEZ NURELDINE / AFP) (Photo by FAYEZ NURELDINE/AFP via Getty … [Read more...] about Goldman on how the 'largest economic shock of our lifetimes' will permanently alter energy markets