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Iranian tankers sail to Venezuela

Fortune, the Iranian tanker, is sailing towards the 12-nm boundary of Venezuela’s territorial seas, bringing its controversial journey to a close. 

Canadian and Alaskan crude find market in China

Following the COVID-19 crisis, Canadian and Alaskan crude which normally travels to the US West, started to finding a market in China, where condition is almost back to the pre-outbreak levels.

COVID-19 pushes oil prices below $0 in a world’s first

For the first time in history, US crude oil prices collapsed below $0, as a result of COVID-19 disruptions that brought a supply gut. Monday ended at a stunning minus $37.63 a barrel, as desperate traders paid to get rid of oil.

Oil market can achieve up to 3m barrels per day from April

Rystad Energy estimated that the extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), while OPEC+ countries are able to add next month 2 million bpd, according to their storage, spare capacity and ramp up capabilities.

Oil industry marks its worst week since 2008

Following the COVID-19 outbreak and the price war between Saudi Arabia and Russia, oil industry is impacted negatively as it marked its largest weekly collapse since 2008.

Oil price falls by 2.01$ following Trump’s travel ban

In light of the COVID-19 global outbreak and the travel restrictions imposed by the US President Donald Trump, the oil prices dropped by $2.01. In fact, Brent crude LCOc1 oil was down by 5.6%, at $33.78 by around 0930 GMT. US crude CLc1 was down $1.77, or 5.4%, at $31.21, Reuters reported.

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