Why Bitcoin Miners Should Head To Oil Country

In 2017, bitcoin burst into the global consciousness when it soared from below $1,000 to nearly $20,000. It then just as quickly dropped out of the limelight as it crashed to below $4,000 and investors began to doubt claims that it would become the global currency of the future. But while bitcoin may have dropped.

Oil Up on Back of Russian Production Cuts

Oil was up on Tuesday morning in Asia with Russian expectations of a rebalancing of the market by June or July. Russia is one of the top oil producers in the world. Brent oil futures rose 1.58% to $36.09 by 12:21 PM ET (5:21 AM GMT). There was no settlement of WTI futures due to a holiday in.

Oil prices rise on supply cut hopes, easing of coronavirus lockdowns

Oil prices climbed on Tuesday, boosted by increasing faith in the market that producers will stick to commitments to cut crude supply while demand picks up with more cars back on the road as coronavirus lockdowns are eased around the world. U.S. West Texas Intermediate (WTI) crude futures gained 3.2%, or $1.06, to $34.31 a.

Oil Demand Will Take Months to Recover in No. 3 Buyer India

It’s going to take months for oil demand in the world’s third-biggest market to get back to pre-virus levels as India faces its deepest recession ever in the wake of its near two-month lockdown. Once the engine of global oil demand growth, India’s fuel consumption collapsed by as much as 70% at one stage last.

Oil Rises as Supply Cuts, Improving Demand Signal Recovery

Oil gained in a day of choppy trading as investors weighed supply cuts and a demand rebound against an ominous economic outlook from the Federal Reserve. West Texas Intermediate crude for July delivery rose 1%. Output cuts by the world’s largest producers are whittling down a supply glut while oil consumption is recovering as economies.

Malaysia’s Petronas inks first LNG virtual deal

Malaysia’s national oil firm, Petroleum Nasional Bhd, has concluded a sales and purchase agreement with Tiger Clean Energy Limited (TCEL) via video teleconference to supply a tank facility on the island of Borneo, it said on Wednesday. Petronas will supply TCEL’s LNG ISO Tank Filling Facility at Bintulu in Sarawak for onward distribution to China..

Coronavirus creates repair headache for oil and gas industry

The coronavirus pandemic has disrupted maintenance at oil and gas projects and refineries from Russia’s the Far East to the coast of Canada, storing up problems for an industry already reeling from slumping prices, analysts say. Lockdowns to stop the spread of COVID-19, the flu-like infection caused by the virus, have snarled the supply of.

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