Saudi Arabia and Russia are strongly committed to implement the agreed target cuts over the next two years

U.S. petroleum demand declined to 19.4 million barrels per day (mb/d) in March, which was a 4.6% decrease from February

Saudi Aramco will cut oil supplies in May by almost 4 million b/d,

Norway's preliminary production figures for March 2020 show an average daily production of 2 038 000 barrels of oil, NGL and condensate,

Brent was down 19 cents, or 0.7%, at $27.50 a barrel, WTI was up 7 cents, or 0.4%, at $19.94.

Brent fell $1.19, or 4%, to $28.41 a barrel, WTI slid 45 cents, or 2.2%, to $19.66.

The deal calls on OPEC, Russia and nine other allies to cut 9.7 million b/d of crude production in May and June, ramping down to 7.7 million b/d for the second half of 2020, and then 5.8 million b/d for all of 2021 through April 2022.

Brent fell 8 cents, or 0.3%, to $31.66 a barrel, WTI was down 36 cents, or 1.6%, at $22.05

Crude oil production from the major US onshore regions is forecast to decrease 183,000 b/d month-over-month in April from 8,709 to 8,526 thousand barrels/day, gas production to decrease 869 million cubic feet/day from 84,027 to 83,158 million cubic feet/day .

Baker Hughes has approved a plan that will result in restructuring, impairment, and other charges of approximately $1.8 billion

Brent rose 16 cents, or 0.5%, to $31.64 a barrel, WTI were up 37 cents, or 1.6%, to $23.13 a barrel

effective oil supply cuts by OPEC and its allies, a group known as OPEC+, will amount to 12.5 million barrels per day

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."

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