"It's impossible to take measures to reduce OPEC+ production by 20 million b/d, this is probably half of all countries' total production," Novak said

Russian energy minister Alexander Novak said a coordinated OPEC+ production cut would not be enough to compensate for the fall in demand caused by the coronavirus pandemic, which he said could reach 20 million b/d.

Urals crude, Russia’s export blend, is now trading firmly below $20 a barrel, a level which could equate to a budget deficit of 2% of gross domestic product this year,

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $39.9 billion in February, down $5.5 billion from $45.5 billion in January, revised.

A consortium led by circular carbon energy company Liquid Wind will produce liquid, carbon neutral fuel from captured carbon dioxide and green hydrogen at a new facility in Sweden.

Brent was up 10.75%, or $2.66, to $27.40, WTI rose 10.09% or $2.05, to $22.36.

Saudi Arabia is following through on its threat to flood the market, after Russia last month rejected a Saudi-led OPEC proposal for significant production cuts to backstop already sliding oil prices from the coronavirus pandemic's impact on the global economy.

Podcast/Audio - US lawmakers from oil-producing states are trying to increase pressure on the White House to do something to help drillers getting hammered by plummeting prices -- from aggressive diplomacy to banning crude imports.

U.S. Commercial crude stocks jumped 13.83 million barrels to 469.19 million barrels during the week

Oil slid to $25 a barrel on Wednesday, within sight of its lowest in 18 years,

In the first quarter of 2020, the Government Pension Fund Global returned -14.6 percent, equivalent to -1,171 billion kroner.

The MoU aims to facilitate the development of two Waste-to-Energy (WtE) plants – in Abu Dhabi and Al Ain – which, upon completion, would have the potential to transform up to 1.5 million tonnes of municipal waste into energy every year and collectively reduce CO2 emissions by approximately 2.5 million tonnes annually – equivalent to the removal of more than 500,000 cars from the road.

The falling cost of making hydrogen from wind and solar power offers a promising route to cutting emissions in some of the most fossil fuel dependent sectors of the economy, such as steel, heavy-duty vehicles, shipping and cement.

Podcast/Audio - The podcast is all about the cleantech and start-up journeys of the leading CEOs and founders in the sector.

Brent was down $1.45, or 5.5%, at $24.90. WTI was down 27 cents, or 1.3%, at $20.21.