Desperate business owners in Russia have been pleading with the Kremlin for help in the pandemic shutdown. The response, however, has been slow and largely focused on big industries, leaving Continue Reading
Russia is preparing to significantly reduce the oil supply to the market from its Baltic and Black Sea ports—to the lowest in two decades in May when the OPEC+ production Continue Reading
Market pessimism continues to grow over the impact of COVID-19 on global oil demand despite signs that economic measures to contain the pandemic are starting to ease in Europe, the Continue Reading
German business morale crashed in April in its most dramatic fall on record and hit its lowest reading ever as the coronavirus crisis strikes Europe’s largest economy “with full fury”, Continue Reading
Eni SpA reported a 94% drop in first-quarter profit and cut its production forecast for the year as demand is crushed by the coronavirus pandemic. While the large decline in earnings Continue Reading
A series of coronavirus outbreaks at Russian oil and gas assets is forcing companies to introduce quarantines and changes to shift patterns, raising the risk that the outbreaks could hit Continue Reading
It was meant to be the day Russians voted to change the constitution to allow President Vladimir Putin to extend his rule until 2036. Instead, Putin spent Wednesday troubleshooting one Continue Reading
The current situation in the oil market with prices plummeting is tough, but the market shouldn’t be judged by a one-day or even a week-long slump, Vladimir Putin’s Press Secretary Continue Reading
Europe’s economy suffered a massive blow in April when government restrictions to contain the coronavirus left companies scrambling to stay afloat. An estimate of private-sector activity in the euro area plunged to Continue Reading
The U.K. economy contracted at the fastest pace in at least 20 years this month as the coronavirus lockdown brought commerce to a standstill. IHS Markit’s Purchasing Managers Index for output Continue Reading
