WTI prices $-40 per barrel? It’s reality now.

It was historical day yesterday. Prices of benchmark US WTI (West Texas Intermediate) May future contracts (NYMEX) first time in history turned negative and went as low as $-40.3 per barrel. June WTI futures traded around $16 per barrel (based on expectations that global oil demand will be available in June). This is ridiculous situation […]

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Recession 2020 and future economic recovery

Economic slowdown resulted in start of recession in 1/3 of economics. Recession works like domino effect, just one trigger is enough for global slowdown. Institute of International Finance (US) downgraded 2020 global growth to 0.4% because major economics entered recession zone. 0.4% growth is the lowest since 2008. Economic predictions changing every week because of […]

Coronavirus impact on global oil demand & supply

According to new Oil Market Report (March 2020) by IEA expected reduced demand for oil (first time in 11 years). This is a result of wide spread of corona virus (Covid-19). For second consecutive year global refining expected to decline because global demand for fuels reduced (also result of corona virus). Global demand for oil […]

Saudi Aramco IPO

Aramco initial public offering (IPO) raised $26 billion and became the largest IPO ever. Company’s shares listed on Tadawul stock exchange. Saudi Aramco IPO prospectus gives insight into Company’s business, enormous profits, strategy, risks, perspectives, etc. Aramco is the world’s largest integrated oil & gas company. In 2019 Company produced 13.2 million barrels per day […]

Saudi Aramco as the largest company in the world.

Saudi Aramco is the largest integrated oil and gas company in the world. Approximately one in every eight barrels of crude oil produced by company. Company’s refining capacity is fourth largest in the world: gross refining capacity of 4.9 million barrels per day & net refining capacity of 3.1 million barrels per day. Company expects […]