2020

OPEC led by Saudi Arabia and its allies led by Russia, which together make up the informal OPEC+ group, had forged a pact to curb crude production by 10 million barrels per day (bpd) or 10% of global supplies in marathon talks on Thursday.

We will use the SPR to store as much oil as possible," US Energy Secretary Dan Brouillette said at a G20 energy summit. "This will take surplus oil off the market at a time when commercial storage is filling up and the market is oversupplied."

The dollar rose 0.63% against the Norwegian crown NOK=D3 to 10.23

U.S. outlays from a $2.2 trillion rescue package passed on March 27 are only just beginning.

Podcast/Audio - COVID-19 and the considerable impacts both positive and negative that it will have on the world of Energy

The North American unit of French energy group Engie SA (EPA:ENGI) has secured up to USD 1.6 billion (EUR 1.46bn) in tax equity financing for its 2-GW portfolio of renewables assets in the US.

Markets were closed for the Good Friday holiday in major centres. But on Thursday, Brent oil prices LCOc1, which hit an 18-year low last month, were trading around $32 a barrel, half their level at the end of 2019.

Adjust downwards their overall crude oil production by 10.0 mb/d, starting on 1 May 2020, for an initial period of two months that concludes on 30 June 2020. For the subsequent period of 6 months, from 1 July 2020 to 31 December 2020, the total adjustment agreed will be 8.0 mb/d. It will be followed by a 6.0 mb/d adjustment for a period of 16 months, from 1 January 2021 to 30 April 2022.

Under the proposed deal, the 10 million b/d OPEC+ cuts would cover the months of May and June, and then be rolled back to 8 million b/d for the rest of 2020, and then down to 6 million b/d for all of 2021 through April 22,

Against the euro EUR=EBS, the dollar last stood at $1.0941, on course for 1.3% weekly decline.