In its March 2020 update, the U.S. Energy Information Administration (EIA) significantly revised its Short-Term Energy Outlook for global oil supply, demand, and prices compared with the February Short-Term Energy Outlook. These updates largely resulted from updated data and assumptions about the effects of the 2019 novel coronavirus disease (COVID-19) on global oil demand and assumptions regarding the Organization of the Petroleum Exporting Countries (OPEC) crude oil production following its meeting on March 6. EIA now forecasts that OPEC will target market share instead of a balanced global oil market. As a result, EIA expects that OPEC crude oil production will increase to an average 29.1 million barrels per day in the second and third quarters of 2020. EIA forecasts that global demand for liquid fuels will grow by 0.4 million barrels per day from 2019 to 2020, down from the 1.0 million barrels per day increase EIA previously forecasted in February. The revised March estimate is driven by EIA's expectations of slowing economic growth, primarily related to the effects of the coronavirus outbreak. EIA expects the decline in global liquid fuels demand, combined with the increase in OPEC production, to result in significant global oil inventory builds in the first half of 2020-putting continued downward pressure on prices. EIA forecasts Brent oil prices will average 43 dollars per barrel in 2020 and 55 dollars per barrel in 2021.

The U.S. average retail price for on-highway diesel fuel fell to $2.73 a gallon on Monday. That's down 8.1 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

The U.S. average retail price for on-highway diesel fuel fell to $2.66 a gallon on Monday. That's down 7.4 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

The U.S. average retail price for on-highway diesel fuel fell to $2.59 a gallon on Monday. That's down 7.3 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

The U.S. average retail price for on-highway diesel fuel fell to $2.55 a gallon on Monday. That's down 3.8 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

As a result of the global economic slowdown related to COVID-19, the U.S. Energy Information Administration estimates that global petroleum and liquids consumption will average 95.5 million barrels per day in 2020, down 5.2 million barrels per day from 2019. EIA forecasts that U.S. oil consumption will decline 6.5% in 2020 to average 19.1 million barrels per day, which would be the largest percentage decline in U.S. consumption since 1980. At the same time, in its April 2020 Short-Term Energy Outlook, EIA expects global oil supply to increase in the coming months from first-quarter 2020 levels. Total world liquids supply will average 98.7 million barrels per day through the third quarter of 2020. These supply and demand developments are contributing to a significant increase in liquid fuels inventories. EIA estimates that second-quarter 2020 global petroleum inventories will increase an average 11.4 million barrels per day. Within the Organization for Economic Cooperation and Development, the most stocks recorded in historical data were in July 2016 at 3.1 billion barrels. EIA forecasts inventories will surpass this level as production continues to outpace consumption. EIA expects these large stock builds will put downward pressure on crude oil prices for several months. Brent crude oil prices averaged 32 dollars per barrel in March, the lowest monthly average since January 2016. EIA forecasts Brent crude oil to average 23 dollars per barrel during the second quarter of 2020 before increasing to an average 46 dollars per barrels in 2021.

The U.S. average retail price for on-highway diesel fuel fell to $2.51 a gallon on Monday. That's down 4.1 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

The U.S. average retail price for regular gasoline fell to $1.81 a gallon on Monday. That's down 4.1 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

The U.S. average retail price for regular gasoline fell to $1.81 a gallon on Monday. That's down 4.1 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

The U.S. average retail price for on-highway diesel fuel fell to $2.48 a gallon on Monday. That's down 2.7 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

The U.S. average retail price for on-highway diesel fuel fell to $2.44 a gallon on Monday. That's down 4.3 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

The U.S. average retail price for on-highway diesel fuel fell to $2.40 a gallon on Monday. That's down 3.8 cents from a week ago, based on the weekly price survey by the U.S. Energy Information Administration.

Transportation fuel demand has decreased since early March 2020 as a result of reduced economic activity and stay-at-home orders aimed at slowing the spread of the 2019 novel coronavirus disease (COVID-19). U.S. refineries have reduced the amount of crude oil and other inputs that they process (also known as refinery runs). U.S. refinery runs fell for four consecutive weeks, reaching 12.8 million barrels per day (b/d) in the week ending April 17, and increased slightly to 13.2 million b/d for the week ending April 24, or nearly 21% lower than the previous five-year average for this time of year.

It seems to be love all for tennis badboy Nick Kyrgios who starred in a very romantic Instagram post with Russian player Anna Kalinskaya.    

The Borussia Dortmund starlet has been heavily linked with a £120million move to Old Trafford at the end of the season, with speculation having also ramped up during the current football lay-off.

The Olympic gymnast was spotted leaving the former TOWIE beauty's Essex home as they headed out for lunch just hours after posting a picture of them cosying up on Instagram.

She first sparked speculation she's engaged to US rapper Playboi Carti last week, when she debuted a giant diamond ring on her left hand wedding finger. 

Nicki Minaj shared a video to Instagram on Sunday of her husband Kenneth Petty rubbing her stomach during a flight to Trinidad. The cryptic video prompted speculation over Minaj expecting a child.

Nicki Minaj set her fanbase and Twitter in general ablaze on Thursday, when she responded to multiple fans asking her rather pointed questions about being pregnant.

Sen. Rand Paul, a Republican from Kentucky, is the second high-profile member of President Trump's party to suggest the president may not run for re-election in 2020.

The Game Of Thrones actress, 24, bundled up in sporty layers, masking any hint of a possible bump. Sophie dressed down in a New York Giants hoodie with matching blue and red track pants

England will bottle the feeling of seeing Ireland win the Six Nations Grand Slam at Twickenham two years ago and use it this week, according to George Ford.

Former Chicago Bulls star Dennis Rodman opened up on his unlikely friendship with the Supreme leader of North Korea Kim Jong-un ever since he visited the country in 2013.

The British men were among nine foreigners and five Thai women partying in Phuket, Thailand, on Wednesday night. Pictured: Scenes inside the apartment after the police bust yesterday.

Police took Neil Henry Elliott, 46, from Northern Ireland on a parade in handcuffs today, to show them the spot where he collected the woman and drove her away on his motorbike.

Walmart is rolling out a new subscription service to rival Amazon Prime that could include unique perks its online competitor does not already offer, like discounts on prescriptions and fuel.

She was only recently rumoured to be dating Loveable Rogues lead singer Eddie Brett two months ago.

New Delhi, May 3 () Jet fuel (ATF) prices have been slashed by a steep 23 per cent in line with a slump in international oil prices and it now costs about one-third of petrol and diesel whose rates continue to be frozen for the 50th day on Sunday. Aviation turbine fuel (ATF) price has been cut by Rs 6,812.62 per kilolitre, or 23.2 per cent, to Rs 22,544.75 per kl in the national capital, according to a price notification by state-owned oil marketing companies. 75463339ATF, which is used as a fuel in aeroplanes, now costs less than one-third of the price of petrol used in cars and two-wheelers. A litre of petrol in Delhi comes for Rs 69.59 while jet fuel is priced at Rs 22.54 per litre. Diesel, used mostly in trucks, buses and tractors, is priced at Rs 62.29 per litre. In fact, even market

Leading Jewish civil rights group The Lawfare Project has filed a freedom of information request against the NYPD and Mayor Bill de Blasio regarding a Jewish funeral on April 28.

Jack will speak with ASADA in Brisbane to discuss the muscle growth drug Ligandrol that was found in her system - which she says was ingested unknowingly through supplements.

Frenchies, as they are known, have rocketed in popularity thanks to celebs posing with them on Instagram - but the rise in demand has led to them being over-bred in countries like Hungary.

The wholesale cost of both petrol and diesel fell by around 0.7 per cent between December 20 and January 9. But, over the same period, the average retail price rose by more than 2.2 per cent.

He was a surprise guest on this week's edition of Saturday Night Live, and she's a television producer who's been previously linked to one Ben Affleck.

Sen. Marco Rubio (R-Fla.) spoke on Saturday at Iowa Gov. Terry Branstad's (left) birthday party in Altoona, Iowa, an annual Republican fundraiser in the early nominating state.

Paul Pogba's brother Mathias has once again fuelled speculation that his World Cup winning sibling could be set to seal a late summer exit from Old Trafford and join Spanish giants Real Madrid.

Researchers at the State University of New York, Binghamton, made the batteries using 'exoelectrogens' - bacteria that can transfer electrons outside of their cells.

FBI Director Christopher Wray said Wednesday in Washington: 'Terrorism today moves at the speed of social media' and the rapid development of technology has helped boost lone terrorists.

EXCLUSIVE INTERVIEW BY RICHARD GIBSON: Sam Billings refuses to be haunted by the prospect of missing a second World Cup in as many years due to circumstances beyond his control.

It is reported that British Airways churned out an extra 18,000 tonnes of CO2 last year by carrying extra fuel on its aircraft in an industry-wide practice known as 'fuel tankering'.

They recently had to deny rumours that there was an ongoing feud amongst the band members.  But the star, 36, has shown a reminiscent side in a hilarious throwback post of Girls Aloud

Hannah Brown and Bachelorette runner-up Tyler Cameron had fans talking after the exes were sighted together this weekend.

Democrats bickered about race in second debate with Beto O'Rourke vowing to call out Trump's statements and Marianne Williamson defended her pledge to give $500 billion to descendants of slaves.

The pair, who split up last month, were reportedly spotted together in Los Angeles over the weekend in a high-end furniture store, despite trying to go unseen.

Experts from the Open University in Milton Keynes have been experimenting to see whether the oxygen stored in simulated moon dust could be used to produce water.

Mailonline has had an exclusive first drive of the astonishing new ‘green’ super-frugal car offering 2p a mile motoring that could swiftly put Osborne and the Treasury out of business.

Former Chicago Bulls star Dennis Rodman opened up on his unlikely friendship with the Supreme leader of North Korea Kim Jong-un ever since he visited the country in 2013.

The 31-year-old's rep said that Chyna had every right to be there as someone who's in the entertainment industry with her presence on reality TV.

Instagram model Skye Wheatley, 25, has fuelled engagement rumours again this week by using the term 'husband' while referring to her beau Lachlan Waugh.

A team of researchers at the University of Sydney, University of Exeter and University of Adelaide has examined the potential for agave as an environmentally-friendly alternative to petrol.

Peter Khoury from the NRMA said rapidly dropping oil prices had seen petrol companies drop their prices in some places but they were still not on passing on all the savings.