Ida’s Economic Toll Seen as Relatively Modest
Analysts estimate insurance industry losses from the hurricane will hit around $10 billion, one-tenth of the toll of Katrina.
IEA Raises Oil Demand Forecast for 2020
The organization also warned that the recent surge in COVID-19 cases could threaten the market's recovery.
Iran Deal Concerns Push Oil Prices Above $70
“It is mostly a fundamentals-driven market, but the icing on the cake is the worry about Iran."
Exxon Shares Drop 3.7% on Another Profit Miss
In the first quarter, the benefits of higher oil prices were offset by weakness in Exxon's chemicals and refining businesses.
U.S. Oil Production to Hit New Record in 2018
With the shale boom continuing, the IEA says the U.S. will overtake Saudi Arabia as the world's No. 2 producer.
IEA Walks Back Forecast of End to Oil Glut
After predicting last month the market would return to balance, the agency now says that forecast may have been premature.
U.S. Oil Output To Decline in 2016, OPEC Says
OPEC appears to have calculated correctly that increasing its production in response to falling oil prices would force out high-cost U.S. producers.