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OPEC expects lower demand for its oil as U.S. hits new milestone

OPEC expects lower demand for its crude oil in 2020 even as global demand rises, it said on Wednesday, as rival producers grab market share and the United States looks set for another output record......»»

Category: topSource: reutersJan 15th, 2020

OPEC Forecasts Higher Demand for Renewable Energy, Lower Demand for Oil

OPEC on Tuesday released its World Oil Outlook to 2040. The cartel sees demand for renewables rising faster than demand for oil, but expects fossil fuels to continue to account for more than half of........»»

Category: blogSource: 247wallstNov 5th, 2019

How homebuilder MileStone is cashing in on "unbridled" demand for housing in Central Texas

MileStone Community Builders expects to close sales 33% more home sales this year versus 2019, despite the pandemic. CEO Garett Martin explains their strategy as well as the new challenges they're facing......»»

Category: topSource: bizjournalsAug 6th, 2020

Oil tops $40 for 1st time since March on OPEC cuts, demand recovery

Oil rose on Wednesday, topping $40 a barrel for the first time since March, supported by lower U.S. inventories, expectations OPEC+ will keep oil output cuts in place and signs of demand recovery from the coronavirus crisis......»»

Category: topSource: reutersJun 3rd, 2020

Futures Movers: Oil futures decline as U.S. tensions with China dull the outlook for demand

Oil futures head lower on Monday, pressured as U.S. tensions with China dull the outlook for energy demand, despite a report that OPEC+ may hold a meeting as early as this week to discuss an extension of current production cuts......»»

Category: topSource: marketwatchJun 1st, 2020

Futures Movers: Oil prices finish lower as worries about demand resurface

Crude-oil futures give up earlier gains on Thursday, with downbeat comments from Federal Reserve officials on economic activity and some doubts over producer compliance with OPEC+ output-cut agreement prompting prices to settle lower......»»

Category: topSource: marketwatchMay 7th, 2020

BMW cuts outlook, expects coronavirus impact to last all year

BMW AG on Wednesday said the impact of the coronavirus will likely hurt demand and profit throughout the year, forcing the German automaker to lower its profit outlook for passenger cars following a slowdown in first-quarter deliveries......»»

Category: topSource: reutersMay 6th, 2020

Ford expects $5 billion loss in current quarter as coronavirus hits demand

Ford Motor Co said on Tuesday its second-quarter loss would more than double to over $5 billion from $2 billion in the first quarter due to the impact of the coronavirus pandemic, but added it had enough money despite the crisis to last the rest of 2020......»»

Category: topSource: reutersApr 28th, 2020

United Airlines sees $2.1B loss as coronavirus hits growth hopes

United Airlines said on Monday it expects to report a pre-tax loss of about $2.1 billion for the first quarter, after the coronavirus pandemic crushed demand......»»

Category: topSource: foxnewsApr 20th, 2020

United Airlines sees first-quarter $2.1 billion pretax loss as coronavirus hits LatAm investments

United Airlines said on Monday it expects to report a pretax loss of about $2.1 billion for the first quarter, hurt by a precipitous drop in travel demand from the coronavirus outbreak which has weighed on its investments in Latin America......»»

Category: topSource: reutersApr 20th, 2020

London Markets: London stocks head for worst session in two weeks, as oil slump hits BP and Shell

London stocks fell sharply on Wednesday, dragged lower by heavily weighted oil stocks as crude prices came under pressure amid a bleak forecast for demand......»»

Category: topSource: marketwatchApr 15th, 2020

Oil ends wild trading session 9.3% lower as OPEC+ gathering fails to quell demand-shock worries

U.S. crude-oil prices staged an about-face on Thursday, closing 9.4% lower.....»»

Category: topSource: marketwatchApr 9th, 2020

Oil eases as demand worries overshadow OPEC deal to deepen supply cuts

Oil prices edged lower on Thursday as the coronavirus epidemic showed no signs of slowing, with deaths mounting globally, but losses were limited as major producers agreed on deeper output cuts to bolster prices......»»

Category: topSource: reutersMar 5th, 2020

Coronavirus has OPEC looking to cut production as outbreak hits demand

Energy producers have taken a hit from a 25 percent slide in crude prices since January.....»»

Category: topSource: foxnewsMar 5th, 2020

OPEC, Russia moving closer to big oil cut as coronavirus hits demand

A panel of OPEC and its allies recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday signaling that Russia and Saudi Arabia were moving closer to a deal to prop up prices which have been hit by the coronavirus outbreak......»»

Category: topSource: reutersMar 3rd, 2020

OPEC gathers in Vienna to discuss further cuts in oil output

OPEC ministers were starting to arrive in Vienna on Tuesday where they will debate whether to cut oil production further as the spread of the coronavirus hits demand for crude worldwide......»»

Category: topSource: reutersMar 3rd, 2020

OPEC and allies to consider significant oil output cuts as coronavirus hits demand

OPEC and its allies will consider making substantial oil production cuts to lift prices that have been battered by the coronavirus outbreak, Algeria's oil minister said on Tuesday, as ministers began arriving for talks in Vienna this week......»»

Category: topSource: reutersMar 3rd, 2020

OPEC ministers gather in Vienna as coronavirus hits demand

OPEC ministers are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the new coronavirus......»»

Category: topSource: reutersMar 3rd, 2020

OPEC leaning towards larger oil cuts as virus hits prices, demand: sources

Several key OPEC members are leaning towards a bigger than previously expected oil output cut, four sources with knowledge of the talks said, as oil prices fell to $50 per barrel on fears the coronavirus outbreak will hit oil demand badly......»»

Category: topSource: reutersFeb 28th, 2020

Oil dips on virus impact, OPEC+ delay

Oil prices edged lower on Tuesday, pressured by concerns over the impact on crude demand from the coronavirus outbreak in China and a lack of further action by OPEC and its allies to support the market......»»

Category: topSource: reutersFeb 18th, 2020

Futures Movers: Oil prices slide as investors fret about OPEC+’s tolerance for deeper supply cuts

Oil futures trade sharply lower Tuesday as concerns about the coronavirus and its impact to demand resurfaces, fueling a broader aversion to assets considered risky on Wall Street......»»

Category: topSource: marketwatchFeb 18th, 2020