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Late-day moves shake up 'crazy' crude oil market

The last 30 minutes of each oil trading day this week have been a roller-coaster, as traders adjust positions in a market where commercial users vital to a stable market - like oil companies - have largely disappeared.

Oil firms cut hundreds of jobs in Texas and New Mexico as prices crash

福利网站Apache Corp and several U.S. oil and gas companies plan to lay off hundreds of workers, according to state filings, adding to a 3,500-person furlough that oilfield giant Halliburton announced this week as the price of oil plunged.

U.S. diesel cash prices latest to slump from coronavirus fallout

U.S. ultra-low sulfur diesel was the latest product refined from crude oil to take a hit in its cash market last week, after refiners boosted production in a bid to flee poorer margins for other products more affected by coronavirus fallout.

Oil markets slump amid coronavirus chaos

Oil prices fell on Monday as governments escalated lockdowns to curb the spread of the global coronavirus outbreak that has slashed the demand outlook for oil and threatened a global economic contraction.

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Exxon's Baton Rouge refinery cuts production due to low demand: sources

Exxon Mobil Corp cut production on Saturday at its 502,500 barrel-per-day Baton Rouge, Louisiana, refinery as poor demand has pushed up inventories and filled storage tanks, said sources familiar with plant operations.

Equinor suspends $5 billion share buyback due virus outbreak, oil crash

福利网站Norway's Equinor has suspended its ongoing $5 billion share buyback program due to the coronavirus outbreak and the crash in oil prices, the company said on Sunday.

Rare earth miner Lynas closes Malaysia plant due to coronavirus curbs

福利网站Rare earths producer Lynas Corp said on Monday it closed its processing plant in Malaysia temporarily after the government introduced strict measures to curtail the spread of the coronavirus.

Ecuador's largest gold and copper mines scale back as Coronavirus cases rapidly grow

Ecuador said on Sunday that its largest gold and copper mines would reduce the number of workers and scale back operations to a minimum as the country registers a rapid growth of coronavirus infections.

China steel, copper inventories dip as demand recovers from virus

福利网站Steel and copper inventories in China fell this week for the first time in months, exchange and consultancy data showed, as downstream metal consumers severely hit by the coronavirus come closer to restoring normal operations.

U.S. lawmakers ask Interior to cut offshore oil royalty rates due to market slump

Lawmakers representing U.S. Gulf coast states on Friday asked Interior Secretary David Bernhardt to temporarily cut the royalty rate oil and gas companies must pay on their offshore drilling operations to help the industry weather a market crash.

Pemex's Maya crude reverses gains, down 16% at $15.13 per barrel: Platts

福利网站The official selling price of Mexican state-run oil company Pemex's flagship Maya heavy crude for U.S. Gulf Coast delivery fell by $2.89 per barrel on Friday, according pricing data from S&P Global Platts.

As Canada virus cases pass 1,000, asylum seekers to be turned back; jobless claims soar

Canada will turn back asylum seekers who walk over the U.S.-Canada border, Prime Minister Justin Trudeau said on Friday, as economic damage from the coronavirus outbreak intensified and a ban on non-essential travel across the world's longest undefended border was set to...

Argentine grain port blocking trucks from entering, shipments unaffected: export chamber

A key port town in northern Rosario, Argentina's main grains export hub, was blocking trucks from entering town on Friday in a bid to stop the spread of coronavirus, though the local export chamber said shipments were not yet unaffected.

BP/Husky Ohio refinery shuts alky unit, sends workers home: source

A 160,000 barrel-per-day (bpd) refinery owned by BP Plc and Husky Energy in Toledo, Ohio, has shut a 3,000-bpd alkylation unit, according to a source familiar with plant operations.

France's Total renounces rights to deep water block in Mexican Gulf

Mexico's oil regulator approved on Friday a request by French oil company Total SA to give up its exploration and production rights to a deep water block in the southern Gulf of Mexico that the firm had won at auction in 2016.

Russia's Rosneft CEO says we need to maintain contact with Saudi Arabia: RIA

福利网站Russia and Saudi Arabia need to maintain contact, Igor Sechin, chief executive with Russia's top oil producer Rosneft, was quoted as saying by RIA news agency on Friday.

Energy Transfer New Mariner pipeline new construction suspended in Pennsylvania

福利网站New construction on the Mariner East pipeline project is being temporarily suspended after Pennsylvania Governor Tom Wolf ordered all "non-life-sustaining businesses" in the state shut down as coronavirus cases continue to rise, Energy Transfer said on Friday.

Coronavirus not expected to disrupt U.S. planting season: Iowa official

福利网站The global coronavirus pandemic is not expected to disrupt or delay the U.S. spring planting season for farmers, even as the virus spreads across the United States, said Iowa's agriculture secretary on Friday.

Oil falls for fourth week; U.S. crude posts steepest weekly loss since 1991

U.S. crude tumbled 10.7% on Friday and posted its biggest weekly decline since the 1991 Gulf War as the coronavirus epidemic dried up global demand and as officials in Washington said an envoy would head to Saudi Arabia to deal with fallout of a Saudi-Russia oil price war.

Offshore driller Valaris gears up for possible debt restructuring: sources

福利网站Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday.

Mexico's Pemex highly vulnerable to oil prices below $20/bbl: Fitch

Mexico's heavily-indebted state oil company Petroleos Mexicanos is increasingly vulnerable to low crude prices as the fast-spreading coronavirus outbreak erodes demand and sends markets tumbling, Fitch Ratings said on Friday.

Latin America's spot oil sales hit by low prices, demand drop: traders

Spot sales of Latin America's heavy crudes mostly dried up this week amid a demand contraction and steep slump in oil prices that left some heavy grades below the $10-per-barrel level, traders from producing companies told Reuters on Friday.

China removes threat of total ban on U.S. poultry if bird flu is found: industry group

福利网站China has promised it will not impose a nationwide ban on imports of U.S. poultry if the United States finds cases of avian flu, an industry group said, a policy change that could help Beijing fulfill commitments to buy more American farm goods.

French grain industry in logistics scramble as shoppers bulk buy

France's grain industry is scrambling to find enough trucks and staff to keep factories and ports running as panic buying of pasta and flour because of the coronavirus pandemic coincides with a surge in wheat exports.