Italy’s Coronavirus Death Toll Is Far Higher Than Reported
In the town of Coccaglio, an hour’s drive east of here, the local nursing home lost over a third of its residents in March. None of the 24 people who Continue Reading
Spain sheds nearly 900,000 jobs since coronavirus lockdown
Spain has shed close to 900,000 jobs, more than half of them temporary, since it went into lockdown in mid-March to fight the coronavirus outbreak, social security data showed on Continue Reading
Russia’s coronavirus cases jump to more than 3,500 in record daily rise
Russia’s coronavirus case tally jumped to 3,548 on Thursday, a record daily increase of 771, Russia’s crisis response centre said. Cases have been recorded in 76 of Russia’s more than Continue Reading
Oil Holds Near $20 as Saudi Output Surges, Russia’s Won’t Rise
Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes. Crude futures in New York Continue Reading
Futures tumble as coronavirus crisis intensifies
U.S. stock index futures sank on Wednesday following stark predictions of a rising U.S. death toll and economic damage from the coronavirus outbreak, a day after the S&P 500 ended Continue Reading
Oil Posts Worst Quarter Ever While Physical Market Craters
Oil posted the worst quarter on record after the coronavirus crushed demand and raised fears about overflowing storage tanks amid a price war that has flooded the market with extra Continue Reading
The First Victims Of The Oil Price War
As the oil price war and coronavirus pandemic rage on, it’s becoming increasingly clear that the energy market can remain choppy and irrational longer than entire nations can stay solvent. Continue Reading
Oil Giants Turn On Each Other As Crude Prices Plummet
Scott Sheffield of Pioneer Natural Resources blamed ExxonMobil for blocking help from the American government for the U.S. shale industry. Exxon’s refusal, Sheffield says, is because the oil major wants Continue Reading
Why the Global Recession Could Last a Long Time
The world is almost certainly ensnared in a devastating recession delivered by the coronavirus pandemic. Now, fears are growing that the downturn could be far more punishing and long lasting Continue Reading
Oilfield spending to fall 21% as producers slash outlays: report
Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Continue Reading