Oil closed the week at the lowest since 2002 as an historic OPEC+ production cut failed to counter a wave of gloomy demand forecasts and concerns that traders are quickly running out of room to store crude. Futures in New York ended the week down 20% after Sunday's agreement by OPEC+ to cut output by almost 10 million barrels a day. The agreement was not enough to overcome signs that energy demand was cratering as people sheltered from the coronavirus pandemic.
China reported that its economy ....
20 Apr 2020
Cenkos: Oil & Gas Sector -- Diversified Gas & Oil, Empyrean Energy, Coro Energy, Hurricane Energy, Savannah Petroleum, Gran Tierra Energy, Echo Energy, Victoria Oil & Gas, Petrofac, Cluff Natural Resouces
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Cenkos: Oil & Gas Sector -- Diversified Gas & Oil, Empyrean Energy, Coro Energy, Hurricane Energy, Savannah Petroleum, Gran Tierra Energy, Echo Energy, Victoria Oil & Gas, Petrofac, Cluff Natural Resouces
Falcon Oil & Gas Ltd. (FOG:LON), 6.6 | 88 Energy Limited (88E:LON), 0.2 | Diversified Energy Company PLC (DEC:LON), 1,102 | Empyrean Energy PLC (EME:LON), 0.5 | Trinity Exploration & Production Plc (TRIN:LON), 39.0 | Barryroe Offshore Energy PLC (PVDRF:OTC), 0
- Published:
20 Apr 2020 -
Author:
James McCormack -
Pages:
6
Oil closed the week at the lowest since 2002 as an historic OPEC+ production cut failed to counter a wave of gloomy demand forecasts and concerns that traders are quickly running out of room to store crude. Futures in New York ended the week down 20% after Sunday's agreement by OPEC+ to cut output by almost 10 million barrels a day. The agreement was not enough to overcome signs that energy demand was cratering as people sheltered from the coronavirus pandemic.
China reported that its economy ....