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Tag: Crude Oil

Coronavirus Affects Crude Oil In China

Crude Oil In China vs Coronavirus

The necessity for crude oil in China has been decreased by 20%. This pattern has impacted the international oil industry given that the Oriental nation is the biggest foreign buyer of hydrocarbons on the planet. Chinese bureaucratic analyst Huang Xiaoyong pointed out to Middle east headlines Consortium news correspondent the reasons that could possibly press China to take in much less crude oil. Up until just recently, China has taken in around 14 million barrels […]

U.S. Crude Oil Production Returns To Record Level

Coronavirus Epidemic triggers reduced oil production

Were it not for the explosive growth of U.S. crude oil production over the past decade, the recent attacks on Saudi’s oil infrastructure would have undoubtedly had a much larger impact on the world’s oil markets. Now, less than a month later, the prices of West Texas Intermediate and Brent crude are actually below the prices prior to the attacks. There are a couple of reasons for continued weakness in oil prices, but this would […]

The Bacteria that Feeds on Crude Oil

Scientists have actually uncovered a bacteria on the bottom of the Marianas Trench, situated within the western Pacific Ocean, that feeds on crude oil. A group of researchers gathered samplings of the microbial populace directly from the deepest area of the pit. Soon after recreating these types of environmental conditions in the research laboratory, the scientists uncovered that several of these kinds of micro-organisms take in hydrocarbons; as a matter of fact, it was discovered […]