COVID-19 Response
Stay current on the latest announcements and news from Sprague - including press releases, product spec sheets, and case studies. Download PDF Reader.

OPEC and its allies considered deeper production cuts

February 5, 2020
Recap: Oil futures gave up earlier gains to finish with a loss on Tuesday, with U.S. prices below $50 a barrel for the first time in more than a year, as demand worries continue to plague the market. Prices fell even as the Organization of the Petroleum Exporting Countries and it ... Read More
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Oil prices fell to the lowest in more than a year on Monday

February 4, 2020
Recap: Oil prices fell to the lowest in more than a year on Monday, dragged down by concern over demand in China after the coronavirus outbreak, though the possibility of deeper crude output cuts by OPEC and its allies offered some price support. March WTI settled at $50.11 a bar ... Read More
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The EIA reported that U.S crude oil inventories rose by 3.5 million barrels

February 3, 2020
Recap: After spiking in January in response to the U.S. drone attack that killed Iran’s top military agent, oil prices slid a painful 15%, the biggest January slide since 1991, as the coronavirus, which originated in China, spreads global fears of a slowdown in economic growth. A ... Read More
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Oil prices fell 3% on Thursday to a fresh three month low

January 31, 2020
Recap: Oil prices fell 3% on Thursday to a fresh three month low on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting. Both WTI and Brent are down approximat ... Read More
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The EIA reported an unexpected 3.5 million barrel increase in U.S. crude oil inventories

January 30, 2020
Recap: Oil prices were mixed on Wednesday with WTI posting losses after the EIA reported an unexpected 3.5 million barrel increase in U.S. crude oil inventories, the largest increase since November. Meanwhile, Brent held on to gains on the back of reported conflicts in the Middle ... Read More
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Reports circulated that OPEC and its allies were weighing in on the possibility of deeper output cuts

January 29, 2020
Recap: After dipping by almost 1%, oil prices gained support, as the stock market rebounded and as reports circulated that OPEC and its allies were weighing in on the possibility of deeper output cuts. March WTI rose toward $54.00, to peak the session at $53.92 before trimming ga ... Read More
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Oil futures fell for a fifth straight session on Monday

January 28, 2020
Recap: Both crude benchmarks have slipped to lows not seen since early October, as oil traders closely monitor the outbreak of a deadly pneumonia-like virus. Oil futures fell for a fifth straight session on Monday, as concern over the economic impact of the coronavirus has fed ex ... Read More
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Crude oil prices fell by more than 3% on Friday

January 27, 2020
Recap: Crude oil prices fell by more than 3% on Friday, with Brent heading toward $60.00 a barrel and with WTI breaching the $54.00 level for the first time since November, as concerns that the coronavirus, which is spreading in China, will spread farther, curbing travel and oil ... Read More
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Oil prices fell on concern that the spread of a virus from China could lower fuel demand

January 24, 2020
Recap: Oil prices fell 3% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. crude inventories. March WTI fell as much as $1.97 or 3.4% to a low of $54.77, the lowest lev ... Read More
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Oil prices slipped as much as 3%

January 23, 2020
Recap: Oil prices slipped as much as 3% as the International Energy Agency forecasted a surplus in supplies and as demand worries overshadowed concern over disruptions to Libya’s crude output. Adding pressure to the market is the spreading of the coronavirus, which originated in ... Read More
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