Mid-Week Review – May 20, 2020
Oil rises on signs of firmer demand, fall in U.S. crude stocks
Oil prices rose on Wednesday amid signs of improving demand and a drawdown in U.S. crude inventories but worries over the economic fallout from the coronavirus pandemic capped gains. Click here to read more from CNBC.
Australia revamps climate fund to encourage Big Oil investment
Australia is seeking to cut emissions in one of the world’s biggest per-capita polluters by encouraging oil firms including Chevron Corp. and Woodside Petroleum Ltd. to invest in carbon-reduction projects. Click here to read more from World Oil.
Oil jumps to two-month high on easing lockdowns, positive vaccine results
Oil prices on Monday jumped to their highest in over two months on positive early results on a potential coronavirus vaccine, optimism about a resumption in economic activity and signs producers were following through on planned output reductions. Click here to read more from Reuters.
US oil prices: Markets rally but still far from 2020 peak
Oil prices have risen as global demand slowly grows and leading energy producers cut production. Oil prices reached just above $30 per barrel, a little more than half their level at the beginning of 2020. But the fallout of COVID-19 and continuing oil glut mean prices will not entirely recover for some time. Click here to read more from Al Jazeera.
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