The International Energy Agency lowered its global oil demand forecasts for 2020 and 2021 on expectations of a further downturn in air travel. Although there has been a recovery in business and industrial activity, that did not deter the agency from downgrading its estimates. The Paris-based agency expects global oil […]

ExxonMobil shares slid as much as 2.6% on Friday after the firm posted its first quarterly loss in 32 years. The energy company is among the most exposed to oil’s recent price plunge and the coronavirus’ impact to demand for the commodity. The pandemic has placed “unprecedented pressure” on margins, […]

Oil prices plummeted to a 21-year low on Sunday evening as uncertainty mounted around storage of excess supply. The commodity has continued to fall over the past week, even after OPEC and its allies agreed to a historic production cut intended to backstop prices. WTI crude oil plunged as much […]

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