Friday, April 3, 2020

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Oil Plummets to 17-Year Low as Broken Market Drowns in Crude

Oil Plummets to 17-Year Low as Broken Market Drowns in Crude

(Bloomberg) -- Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and...
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U.S. Calling on Saudis to Halt Plan to Unleash Record Oil Supply

U.S. Calling on Saudis to Halt Plan to Unleash Record Oil Supply

(Bloomberg) -- The Trump administration is pressing Saudi Arabia to dial back its plan to flood the oil market after a price war with Russia...
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Mideast Stocks Drop Despite $47 Billion of Central Bank Aid

Mideast Stocks Drop Despite $47 Billion of Central Bank Aid

(Bloomberg) -- Most equity markets in the Middle East fell on Sunday, despite efforts by central banks across the region to protect economies from shocks...
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Aramco Slashes Spending as Virus Erases Oil Demand Growth

Aramco Slashes Spending as Virus Erases Oil Demand Growth

(Bloomberg) -- Saudi Aramco is slashing planned spending this year in the first sign that plunging demand and the oil-price war the kingdom unleashed are...
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Abu Dhabi Plans Big Oil Output Boost to Join the Price War

Abu Dhabi Plans Big Oil Output Boost to Join the Price War

(Bloomberg) -- Abu Dhabi National Oil Co. will boost crude supply to more than 4 million barrels a day next month as the United Arab...
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Oil Rally Falters With Supply Fear Weighed Against Stimulus Hope

Oil Rally Falters With Supply Fear Weighed Against Stimulus Hope

(Bloomberg) -- Oil’s rebound from its biggest crash in a generation ran out of steam on skepticism the U.S. would be able to deliver sufficient...
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Skyscrapers stand in the King Abdullah financial district in Riyadh; wealth fund

US$10mn From Saudi Arabia’s Coffers To Help WHO Fight Coronavirus

Saudi ruler, King Salman bin Abdulaziz Al Saud has issued a directive to provide financial aid to the World Health Organization (WHO) to help...
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UAE non oil

Coronavirus Update: 14 New Cases in UAE; ATM Postponed, Saudi Flights Suspended

The UAE's Ministry of Health and Prevention has announced 14 new cases of the Covid-19 coronavirus had been confirmed in the country. Four of them...
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Oil Drops 31% in Worst Loss Since Gulf War as Price Fight Erupts

Oil Drops 31% in Worst Loss Since Gulf War as Price Fight Erupts

(Bloomberg) -- Oil markets crashed more than 30% after the disintegration of the OPEC+ alliance triggered an all-out price war between Saudi Arabia and Russia...
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OPEC Deal Is High Risk for Both Saudi Arabia and Russia

OPEC Deal Is High Risk for Both Saudi Arabia and Russia

(Bloomberg) -- With OPEC pre-announcing a big production cut for it and its allies without the support of Russia, Saudi Arabia appears to be trying...
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