Gasoline demand in the U.S. has flatlined for much of the third quarter, keeping crude-oil prices near $40 a barrel and challenging the global energy industry heading into the final months of the year. Fragile fuel demand joins other indicators of economic activity-- from consumer spending to hiring-- in signaling that growth is softening after a surge from April to June. That trend has many investors skittish as fall begins, particularly with November's presidential election...
Canada will spend C$320 million to support its offshore oil industry in Newfoundland and Labrador, which has struggled as coronavirus pandemic travel restrictions reduced demand, the government said on Friday.
Canada will spend C$320 million to support its offshore oil industry, which has struggled as pandemic travel restrictions reduced demand, Natural Resources Minister Seamus O'Regan said on Friday. Details of how the funds may be used were not immediately available.
Introducing new partnership with SkyNRG, pioneer and global leader in sustainable aviation fuel Success of its current sustainability plan, which has seen 80% of Members join plan to reduce carbon footprint Technology-led optimization, reducing fuel consumption by an average of 8% per flight since January 2020 LONDON, Sept. 23, 2020 -- VistaJet, the first and only global business aviat...
Predicting oil demand has rarely been more challenging, buffeting prices and muddying the outlook for traders, investors and energy producers. Energy analysts are mapping out the course of the coronavirus and efforts to stop the pandemic, including limits on flights, cruises and the use of public transportation. They are also grappling with the effects on fuel demand of an economic downturn, rising unemployment, and changing patterns of work, study and travel.
Canada's main stock index edged up on Friday after data showed a rise in retail sales and an uptick in house prices, but a fall in shares of oil producers capped gains. * The energy sector dropped 1.5% as crude prices fell after Libyan commander Khalifa Haftar said a blockade on Libyan oil exports would be lifted for one month.
* MOODY'S SAYS MOST MEXICAN CORPORATES HURT BY LOWER ECONOMIC GROWTH AND PANDEMIC OUTBREAK. * MOODY'S SAYS EXPORT AND TOURISM-DEPENDENT SECTORS TO REMAIN UNDER ECONOMIC STRESS BEYOND 2021 FOR MEXICO. * MOODY'S SAYS MEXICO'S TOURISM SECTOR WILL NOT RETURN TO PRE-PANDEMIC ACTIVITY UNTIL 2023.
Major oil industry producers and traders are forecasting a bleak future for worldwide fuel demand, due to the coronavirus pandemic's ongoing assault on the global economy. The novel coronavirus hammered fuel demand in the spring, causing consumption to drop by more than one-third as billions of people worldwide restricted their movements.
Persistent damage to the global economy from the coronavirus pandemic will hollow out demand for oil more than previously thought, major industry figures said on Monday. The Organization of the Petroleum Exporting Countries, energy giant BP and commodities trading giant Vitol all made grim forecasts as rising rates of COVID-19 infections sap hopes for quick recovery.
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