The Covid-19 pandemic has ravaged global oil demand and, coupled with the extremely low price levels brought on by the wide supply surplus, is likely to cause the largest monthly drop in fracking activity ever recorded in the US, a Rystad Energy analysis shows

Since oil prices crashed into negative territory earlier this week, Brent Crude prices have remained low at US$19.33 a barrel and WTI oil at US$10.01 a barrel at the time of writing

The energy metals sector is bracing for a major backlash, as the COVID-19 pandemic and low oil prices are taking a heavy toll on global demand for OCTG (oil country tubular goods)

Yesterday was a historic day for the oil industry with prices crashing and going into negative territory for the first time

Saipem, one of the leading a consortium with Egypt-based Petrojet, has been awarded a contract by Egyptian Ethylene & Derivatives Co (Ethydco) for the first polybutadiene-producing facility in Egypt, with an expected production capacity of 36,000 MT per year