The Organisation of the Petroleum Exporting Countries (OPEC) has struck a deal to slash global oil production by 10 per cent, as it graples with the sharp and sudden drop in global fuel demand amid COVID-19. It’s the largest single reduction in oil production in the organisation’s history, driven by the close to 30 […]
OPEC reach fuel cuts deal Read More »
A supply stoush between Saudi Arabia and Russia has driven global fuel prices even lower. Demand for fuel has dropped world-wide on Covid-19 fears, which has seen airlines slash services, which C&I last month reported was already having an impact. Forced lock-downs of areas in China and Italy have further exacerbated the global oversupply. Leaders
Fuel supply stoush sparks global price drop Read More »
As the economic fall out from the Coronavirus outbreak continues, resulting travel restrictions and drops in global demand for fuel are driving down fuel prices. The Organisation of the Petroleum Exporting Countries (OPEC) price per barrel sat at US$55.51 on Monday, down from $58.94 on January 31. While financial media company Bloomberg reported Citigroup have
Coronavirus containment measures hit global fuel prices Read More »
