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May 30, 2020
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Reuters - Business

OPEC chief says oil market responding well to record OPEC+ cut

LONDON (Reuters) – OPEC is encouraged by a rally in oil prices and strong adherence to its latest output cut, its secretary general said, although sources say the group has not ruled out further steps to support the market. FILE PHOTO: A 3D printed oil pump jack is seen in......
CNBC Business

Oil outlook vastly different than when it plunged into negative territory a month ago

CNBC – For more and to sign up click here The fortunes of the oil market have turned around dramatically in the past month. This time last month, investors were watching the futures market in disbelief. The May contract for West Texas Intermediate oil was set to expire, and prices......
CNBC Business

A resurgence of coronavirus cases will have ‘major consequences’ for the oil market, IEA warns

CNBC – For more and to sign up click here South Belridge Oil Field is the fourth-largest oil field in California and one of the most productive in the U.S. David McNew | Getty Images The International Energy Agency (IEA) said on Thursday that market forces had “demonstrated their power”......
CNBC Business

Oil rebound may have gone too far, based on just tentative supply and demand improvements

CNBC – For more and to sign up click here Signs that Americans are driving more as the economy slowly reopens are helping lift oil prices, but a 60% jump in just a week may be too much, too soon. The pickup in gasoline demand is coinciding with big production......
CNBC Business

Egyptian billionaire Naguib Sawiris sees oil at $100 in 18 months, says he would buy airlines

CNBC – For more and to sign up click here Egyptian billionaire Naguib Sawiris says he would buy airlines, going against fellow billionaire investor Warren Buffett, who announced that Berkshire Hathaway sold all its airline stocks at the firm’s annual meeting on Saturday.  Sawiris, chairman and CEO of Orascom Investment Holding......
CNBC Business

Oil producers scramble to find ‘creative’ storage options after historic price crash

CNBC – For more and to sign up click here An aerial view shows a cruise ship (L) and tanker vessel anchored near the ports of Long Beach and Los Angeles amid the coronavirus pandemic on April 28, 2020 off the coast of Long Beach, California. Mario Tama | Getty......

Mesoamerican Sculptures Reveal Early Knowledge of Magnetism | Science

Magnets are a mystery that has baffled scientists and philosophers for millennia, and researchers still don’t fully understand the properties that give magnetic fields their potency. Ancient Greek legend held that a shepherd named Magnes first discovered the curious force when a stone pulled at his iron staff in an......

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