UPDATE 8-Oil heads for another weekly slide on coronavirus turmoil [Reuters]
Continental Resources, Inc. (CLR)
Last continental resources, inc. earnings: 2/26 04:15 pm
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Source: Reuters
Oil heads for another weekly slide on coronavirus turmoil NEW YORK (Reuters) - Crude prices rose on Friday as energy producers continued to cut the number of rigs drilling for oil in the United States and Canada. Both Brent and the U.S. crude benchmarks, however, remained on track for their third straight week of losses as global production shutdowns failed to keep pace with the collapse in demand caused by the coronavirus pandemic. U.S. energy firms cut the most oil rigs in a month in April since 2015, according to energy services firm Baker Hughes Co BRK.N. In Canada, drillers slashed the number of active oil and gas rigs to a record low. The oil market has experienced unprecedented turbulence since U.S. prices fell into negative territory on Monday for the first time ever and international benchmark Brent sank to two-decade lows. Investors have sold oil aggressively since early March, in response to a 30% collapse in demand due to the pandemic. This week’s declines will mark the ei
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