Oil Spikes Despite Pandemic Uncertainty
Oil prices have stabilized due to a rebound in demand and the “spectacular” drop in supply, according to a new report from the International Energy Agency (IEA). The reopening of Continue Reading
Oil Set for Third Weekly Gain on Supply Cuts and Demand Recovery
Oil is heading for a third weekly gain on signs the market is slowly rebalancing as major producers slash supply and consumption recovers after a historic collapse in demand due Continue Reading
Seven weeks into coronavirus lockdowns, Fed has a new, darker message
One Thursday morning seven weeks ago, Federal Reserve Chair Jerome Powell made a rare appearance on NBC’s “Today Show” to offer a reassuring message to Americans dealing with the economic Continue Reading
Coronavirus lockdowns and economic collapse may prove deadlier than the disease in poor countries
The consequences of the coronavirus pandemic may prove more devastating than the disease itself for the world’s poorest countries as the global economy hurtles into recession, people lose jobs by Continue Reading
Oil on floating storage soars to record highs, but peak still some way off
Oil on floating storage is now at its highest level in the history of the oil market and despite modest signs of a demand recovery, industry sources and analysts say Continue Reading
Syria’s Assad Defeated his Foes. Now He Targets his Friends.
For nine years, Syrian President Bashar al-Assad has waged a brutal civil war against his enemies and allowed his friends to profit from it. Now, he’s squeezing those same allies Continue Reading
Worst financial crisis in decades deals blow to Saudi prince’s ambitions for the kingdom
Guards take the temperature of people entering a mall in Riyadh, Saudi Arabia, on May 12. Muhammed, right, has worked as a mall security guard for the past six years. Continue Reading
Saudi Arabia Cuts June Oil Exports To Asia
Saudi Arabia’s oil giant Aramco has slashed by up to 30 percent its crude oil allocations to at least three buyers in Asia for June, compared to what customers had Continue Reading
Iran Unlocks New Funding Stream For Oil & Gas
A small and tedious-looking announcement of the ratification of a bylaw relating to the issuance of securities appeared on Iranian government-affiliated websites last week and was unsurprisingly ignored by the Continue Reading
Saudi Arabia Oil News: China and Russia Latest –
Saudi Arabia’s loss of oil market share in China last month to Russia and Iraq is likely to be fleeting, with analysts saying shipments from the kingdom to Asia’s largest Continue Reading