2020

Brent was down $1.08, or 2.6%, at $40.69 a barrel, WTI dropped $1.05, or 2.6%, to $38.80.

The sector is in full-on merger mode in response to oil prices that have been stuck at around $40 a barrel in recent months after the Covid-19 pandemic hit global demand.

Saudi Energy Minister Prince Abdulaziz bin Salman, who has warned his counterparts of the market's shaky footing and the need to be proactive on production policy, could very well welcome any lobbying by the Trump administration, if global oil demand prospects do not improve.

CNOOC’s hydrocarbon output increased from 475 mboe in 2018 to 506.5 mboe in 2019 (+6.6%).

Global growth is projected at minus 4.4 percent in 2020 and plus 5.2 percent in 2021.

The debate over carbon border measures flows from the EU's policy of imposing a price on carbon emissions in the EU which is not replicated in much of the rest of the world, with some exceptions, presenting a threat to European carbon-intensive industry's competitiveness.

To coincide with the first meeting of the new United States-United Arab Emirates Strategic Dialogue, U.S. Secretary of Commerce Wilbur Ross announced the Department is working to conclude two memorandums of understanding with Emirati government agencies promoting foreign direct investment, innovation, and entrepreneurship as well as the expansion of the International Trade Administration’s (ITA) Digital Attaché Program to Dubai, UAE.

The EU considers the extraterritorial application of unilateral restrictive measures unlawful and contrary to international law.

bp, Eni, Equinor, National Grid, Shell and Total form Northern Endurance Partnership to develop ‎offshore carbon dioxide infrastructure in the UK North Sea, with bp as operator

U.S. Rig Count is up 5 from last week to 287, Canada Rig Count is up 3 from last week to 83,