Malaysian palm oil farmers struggle as demand, prices slump

Palm oil exports earned Malaysia more than 15 billion U.S. dollars last year. But the price of crude palm oil has slumped since the turn of the year as demand sinks amid the COVID-19 crisis. That’s hitting small producers hard. Rian Maelzer reports from central Malaysia. Subscribe to us on YouTube: https://goo.gl/lP12gA Download our APP … Read more Malaysian palm oil farmers struggle as demand, prices slump

China discovers new oil field with over 100 million tons of crude

China National Offshore Oil Corporation announced that the proven geological oil reserves of the Kenli 6-1 oil field in China’s Bohai Bay is over 100 million tons. Kenli 6-1 is the first large oil field in Laizhou Bay of Bohai. After the crude has been refined into gasoline and diesel, it can power 1 million … Read more China discovers new oil field with over 100 million tons of crude

Iranian tankers in Venezuela: 1.5 million barrels of crude expected to arrive in all

The first of five Iranian tankers carrying much-needed gasoline and oil derivatives has docked in Venezuela and a second one entered its waters, the government said on May 25 amid concern in Washington over the burgeoning relationship. The fleet is carrying around 1.5 million barrels of gasoline, according to press reports. Tehran had warned of … Read more Iranian tankers in Venezuela: 1.5 million barrels of crude expected to arrive in all

Natixis Exits Financing of Shale Oil, Gas Projects

May.19 — Natixis SA said it plans to stop financing projects linked to shale oil and gas, just weeks after the French bank reported bad-debt provisions tied to the energy industry as crude plunged. Jean Raby, chief executive officer of Natixis Investment Managers, comments on the decision in an interview on “Bloomberg Markets: European Open.” … Read more Natixis Exits Financing of Shale Oil, Gas Projects

Why are some OPEC nations struggling to make any money right now? | Counting the Cost

Not all OPEC nations are rich and can weather a storm like the coronavirus pandemic with oil prices also sliding into negative territory, however briefly. OPEC cartel leader Saudi Arabia is cutting subsidies and raising taxes but it also has massive foreign currency reserves that can see it through the crisis. But that is not … Read more Why are some OPEC nations struggling to make any money right now? | Counting the Cost

ASX rallies on Wall St bounce, energy stocks lead the way on oil supply cuts | ABC News

The Australian share market rallied after gains on Wall Street that were fuelled by a surprise Saudi oil-production cut and a steep rise in crude prices. Read more here: https://www.abc.net.au/news/2020-05-15/asx-rallies-on-wall-st-bounce-back/12251760?section=business For more from ABC News, click here: https://ab.co/2kxYCZY You can watch more ABC News content on iview: https://ab.co/2OB7Mk1 Subscribe to us on YouTube: http://ab.co/1svxLVE Go … Read more ASX rallies on Wall St bounce, energy stocks lead the way on oil supply cuts | ABC News

CrossTalk | QUARANTINE EDITION | ‘Obamagate’

The dropping of the FBI case against Michael Flynn reveals what so many of us have long believed: ‘Russiagate’ was a crude and sloppy invention to undermine the outcome of a presidential election. Irrespective of how you feel about the current occupant of the White House, this was an attempted coup. Tellingly, the corporate liberal … Read more CrossTalk | QUARANTINE EDITION | ‘Obamagate’

Putin Ends Russian Virus Lockdown, Urges Caution on Easing

Russian President Vladimir Putin ended his national stay-at-home restrictions against the coronavirus after six weeks, while putting responsibility for easing the measures on regional leaders, even as the number of infections in Russia surges past most European countries. “The period of non-working days for all of Russia and all economic sectors comes to an end,” … Read more Putin Ends Russian Virus Lockdown, Urges Caution on Easing

Brent Crude to Stay in $30 Range in 3Q, Goldman Sachs Says

May.12 — Brent oil is likely to remain in the $30 a barrel range in the third quarter, and rise to the $40 range in the fourth quarter, as storage draws down, according to Jeff Currie, global head of commodities research at Goldman Sachs. He also comments on the outlook for gold in an interview … Read more Brent Crude to Stay in $30 Range in 3Q, Goldman Sachs Says

Should big money give poor nations debt relief to fight COVID-19? | Counting the Cost

May 1 was an important day for the world’s poorest nations. It was the day the rich club of G20 nations gave debtors a payment holiday until the end of the year, giving developing nations more headroom to pay for healthcare during the pandemic. Despite more than 100 countries applying to the International Monetary Fund … Read more Should big money give poor nations debt relief to fight COVID-19? | Counting the Cost

Coronavirus Special Report: Crude Gets Crushed

May.08 — Bloomberg’s Alix Steel speaks to major players in the energy industry about the impact of the coronavirus pandemic, which has contributed to a glut in supply and a plunge in demand for crude oil. Chevron CEO Mike Wirth, BP CEO Bernard Looney, ConocoPhillips Chairman and CEO Ryan Lance, and Icahn Enterprises Holdings Chairman … Read more Coronavirus Special Report: Crude Gets Crushed