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Tag: oil and gas

Oil falls on mounting COVID-19 cases, supply concerns

Oil edged lower on Friday, falling more than 2% on the week as COVID-19 cases surged globally and oil supply is set to rise in coming weeks. Brent crude futures LCOc1 settled at $41.92 a barrel, down 2 cents, while U.S. West Texas Intermediate (WTI) crude futures CLc1 lost 6 cents to $40.25 a

Oil prices appreciate as OPEC predicts decline in 2020 demand

Oil prices appreciated Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) said that world oil demand would fall by 9.46 million barrels per day (bpd) in 2020. OPEC said there will be a decline in demand in its monthly report for September, released on Monday. In its previous

BNP Paribas’ insurer Cardif reduces exposure to coal

Cardif, which has already sold stakes worth 200 million euros in coal-fired power generation companies, will no longer finance power generation companies where coal-fired power accounts for more than 30 percent of installed capacity. Cardif also said it intends to invest 3.5 billion euros ($4 billion) in green projects by