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OPEC+ calls off technical talks, mediation attempts fail: sources

An OPEC and non-OPEC technical meeting planned for Wednesday in Vienna has been called off as attempts to mediate between Saudi Arabia and Russia after the collapse of their supply cut pact made no progress, sources said on Monday.

Saudi Aramco likely to sustain high April oil output through May: CEO

State oil giant Saudi Aramco said on Monday it was likely to sustain higher oil output planned for April through into May, and that it was "very comfortable" with a price of $30 a barrel.

Oil prices jumped $1 as recent sharp falls draw investors

Oil prices rose more than $1 on Tuesday as the recent sharp falls due to the coronavirus pandemic encouraged bargain hunters to come forward, although the market remains volatile as the spread of the infection disrupts economies and hurts demand.

Exclusive: Shale gas pioneer Chesapeake Energy taps restructuring advisers - sources

Chesapeake Energy Corp, the oil and gas exploration and production company that helped spearhead the U.S. shale revolution, has tapped debt restructuring advisers amid a rout in energy prices, people familiar with the matter said on Monday.

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Oil slumps below $30 a barrel as coronavirus spreads, OPEC rancor remains elevated

Oil prices fell below $30 a barrel on Monday after the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession.

Motiva Port Arthur, Texas, refinery continues FCC restart: sources

Motiva Enterprises' 607,000 barrel-per-day Port Arthur, Texas, refinery continued restarting the gasoline-producing fluidic catalytic cracker (FCC) on Monday, sources familiar plant operations said.

Developing nations may lose up to 85% of oil and gas income this year: IEA, OPEC

Developing nations' oil and gas income will fall by 50% to 85% this year to a more than two-decade low if current market conditions persist, the International Energy Agency and OPEC said in a rare joint statement on Monday, citing recent IEA analysis.

Factbox: Oil products markets in turmoil as coronavirus infects demand

The oil products markets globally are caught between a rock and a hard place as the impact of ultra cheap oil, which should be a boon for refiners, is mitigated by record low prices for gasoline and jet fuel.

Column: Hedge funds turn ultra-bearish as volume war compounds pandemic - Kemp

Hedge funds continued selling petroleum in anticipation of a sharp downturn in oil consumption, even before major governments announced tougher travel restrictions late last week.

European jet fuel cargo differentials fall to record low

Northwest European jet fuel cargo differentials fell to a record $12/tonne below ICE low-sulfur gasoil futures, according to Refinitiv Eikon data.

Surging demand to move flood of crude oil sends smaller tanker rates soaring

A surge in demand to ship the flood of crude oil unleashed by Saudi Arabia and its OPEC peers is sending freight rates surging and forcing buyers to seek out space on smaller tankers with the largest ones booked, shipping sources said.

U.S. could start buying crude for Strategic Petroleum Reserve in two weeks

The United States could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve as soon as two weeks from now, and fill it in several months, an Energy Department source said on Monday.

Oilfield firm ProPetro ousts CEO, reveals lack of loan disclosures

Oilfield services firm ProPetro Holding Corp on Monday ousted Chief Executive Dale Redman, and said he violated its insider trading policies over shares pledged for personal loans.

Equinor's staff to have longer shift offshore to prevent virus spread

Norwegian oil and gas firm Equinor said on Monday it would extend its employees' stay at offshore platforms to 21 days from 14 days to reduce the risk of coronavirus spread.

More U.S. producers cut budgets as crude falls below $30 a barrel

EOG Resources Inc <EOG.N>, Whiting Petroleum Corp <WLL.N> and EQT Corp <EQT.N> cut drilling activity and budgets on Monday, becoming the latest North American shale producers to be hit by lower oil prices, which fell below $30. Oil producers are trying to shore up cash as...

France's EDF to reduce Flamanville nuclear plant staffing over virus

EDF will reduce staff to around 100 from 800 at its Flamanville nuclear power plant in northern France due to coronavirus infections in the Cotentin region, a spokesman for the French utility said on Monday.

Stock market rout doubles pain for energy firms that took shares for deals

Energy investor EnCap Investments pulled off a rarity in the U.S. shale business earlier this month, the $2.5 billion sale of oil producer Felix Energy to rival WPX Energy Inc, striking a deal at a time when energy mergers have all but dried up.

China's Sinochem shies away from Rosneft's oil on looming U.S. sanctions-sources

China's state oil company Sinochem Corp is rejecting any crude cargo "from or related to" Russia's state oil major Rosneft before U.S. sanctions on a Rosneft unit take effect in May, two sources with direct knowledge of the matter told Reuters.

China encourages firms to raise pigs overseas to plug domestic pork shortage

China said on Monday that it is encouraging companies to build pig farms overseas to plug a severe domestic pork shortage after a worse-than-ever African swine fever slashed almost half of its pig herd.

Gasoline becomes more affordable, just when Americans don't need it

At two gasoline stations in Scarsdale, a wealthy suburb of New York City not far from one of the nation's worst outbreaks of coronavirus, attendants whiled away the minutes on a rainy Friday morning at what would normally be their busiest time of day.

China's January-February coal output drops 6.3% as coronavirus disrupts

China's coal output in the first two months of 2020 fell 6.3% from the same period a year earlier as the coronavirus outbreak stopped miners from getting back to work after the Lunar New Year holiday was extended in a bid to contain the epidemic.

Gold jumps as emergency Fed rate cut weighs on dollar, equities

Gold prices rose nearly 3% on Monday, following a steep decline in the previous session, as the dollar and global equities fell sharply after the U.S. Federal Reserve made another surprise interest rate cut.

Oil giants set health checks for critical staff, work-from-home rules

Major energy companies in the United States imposed work-from-home rules for office staff and began health checks for remote or critical workers as coronavirus spread and threatened an industry reeling from falling demand and profits.

Factbox: Aramco 2019 profit drops, a week after shares fell below IPO

Saudi Arabia's state-run oil giant Saudi Aramco announced a drop in its 2019 profit of nearly 21% on Sunday, falling well below analysts' expectations just three months after selling shares to the public in a record-setting IPO.