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  • Oil was anchored near $20 a barrel after closing at an 18-year low as concerns over virus-led demand destruction outweigh an agreement by the world's biggest producers to curb supply. 

  • Doubts are surfacing over the future of BP's £5.8 billion project to squeeze crude from the oil-rich sands of northern Canada after one of the chiefs of Husky Energy, its joint-venture partner, resigned unexpectedly. Catherine Hughes, vice-president of oil sands for Husky, left the company last week...

  • The method for assessing the Brent global benchmark crude oil price is scheduled to change in 2018. The Brent price benchmark reflects transactions involving physical cargoes of several specific grades of crude oil in the North Sea, located between the UK and Norway. Declining production of some of ...

    • Availability: Online
    • Record type: News Item

  • OIL 101 is a straightforward guide to oil and an essential read for anyone coming to grips with where oil prices, the economy and society are headed. Its author, Morgan Downey, is a successful commodities trader based in New York. In OIL 101, Downey provides a clear, concise overview guide to oil, f...

    • Availability: In the library
    • Record type: Book

  • A sudden collapse in the price of crude oil is forcing energy companies to slash budgets and reduce exploration and oilfield development programmes. The price collapse is hurting national oil producers, too. The cutbacks in spending are expected to hit the American oil industry hard, according to a ...

  • BP and its Chinese partner, CNPC, have accepted a contract to develop the 17 billion-barrel Rumaila field near Basra for a fee of only $2 per barrel of oil produced, nearly half the $3.99 figure in its initial offer. Nearly 30 other oversea companies withdrew from bidding after rejecting what were c...

  • Oil hit an 18-month high of $86.70 a barrel yesterday, causing expectations that petrol prices may soon exceed the record levels of summer 2008.

  • The price of oil burst through the $71 a barrel mark today amid predictions that the price could eventually hit $250. Proven reserves have fallen for the first time in ten years.

  • Global demand for oil is continuing to slide as the economy contracts, OPEC said yesterday. However, at its meeting in March, Opec officially decided to hold its production steady.

  • Saudi Arabia's oil minister warned today that oil prices could rise back above the record highs of almost $150 a barrel within two to three years. OPEC output levels are expected to remain unchanged

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