Energy & Fuel

Offshore Drilling: 'Broken' Agency Struggles 10 Years After Gulf Spill

"Ten years after the Deepwater Horizon disaster, the Interior Department agency that regulates offshore energy development is fractious, demoralized and riddled with staff distrust toward its leadership, according to multiple accounts from current and former employees."

Source: EnergyWire, 04/13/2020

"Oil Price War Ends With Historic OPEC+ Deal to Slash Output

"OPEC and its allies locked in a historic oil supply accord Sunday after Saudi Arabia, under pressure from the US, agreed to give Mexico a looser production quota, ending a four-day stalemate that threatened to escalate a price war in the midst of the coronavirus crisis."

Source: Platts, 04/13/2020

"A Global Deal To Slash Oil Production Is At Risk After Mexico Objects"

"Russia and Saudi Arabia have called off their brutal price war and are now pushing dozens of major crude producers toward a deal that would slash production and help stabilize a market that's been rocked by the coronavirus pandemic."

Source: CNN, 04/10/2020

"In the Big OPEC++ Output Deal, Who’s In and Who’s Out?"

"Oil faces a critical week as Saudi Arabia, Russia and other global producers work frantically to secure a deal aimed at stemming the crash in oil prices. The former partners-in-cuts traded barbs over the weekend over who’s to blame for crude’s crash, which led to a virtual meeting being re-scheduled for April 9."

Source: Bloomberg, 04/08/2020

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