Covid-19 Makes Foreign Policy the Oil Patch's First Biden Fear
The effects of Covid-19 mean that Joe Biden's foreign policy, not domestic energy policy, might prove more impactful for U.S. energy companies in the near future.
Oil falls for the session, but scores an 8% weekly rise
Oil futures settled with a loss on Friday, as COVID-19 cases continue to rise at a rapid pace, though crude still saw a sharp weekly advance following gains inspired by progress toward a vaccine.
U.S. Oil-Rig Count Rises by 10 in Latest Week
The number of rigs drilling for oil in the U.S. rose by 10 in the latest week to 236, according to oil-field services firm Baker Hughes.
EDF Keeps Profit Outlook Despite Sales Fall
EDF maintained its 2020 earnings forecast despite reporting a 4% drop in sales for the first nine months, which took a EUR2 billion hit due to the coronavirus pandemic.
Engie Profits Fall But Forecasts Remain
Engie reported a sharp drop in operating income for the first nine months of the year. after it took a EUR1 billion hit from the coronavirus pandemic, but kept its 2020 forecasts intact for income and capex.
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities
Central Bank Leaders Embrace Climate Concerns as Key Policy Objective
Top central bank leaders said Thursday climate-change risks are an increasingly important consideration in their thinking about their respective economies and financial systems, and that environmental concerns also are increasingly a factor in their monetary policy considerations.
Oil-Demand Recovery Unlikely for Months Despite Vaccine Hopes
Global oil markets may have rallied on the latest positive vaccine trial results, but they are unlikely to feel any significant economic benefits until well into next year, the IEA said.
RWE Confirms Outlook as Profits Rise
RWE posted a 13% rise in its core earnings for first nine months of the year, and confirmed its guidance and planned dividend increase for 2020.
OPEC Deepens Forecast for Drop in Global Oil Demand
Coronavirus lockdowns in Europe and weakening consumption in the Americas will result in global oil demand taking a larger hit in 2020 than previously expected, the Organization of the Petroleum Exporting Countries said.
(END) Dow Jones Newswires