by sundelbolong | May 20, 2020 | Business & Finance News
For the world’s most important commodity, there’s never been a month like it. Just a few weeks ago, crude oil was akin to industrial waste in some parts of the world, something you had to pay people to take away. Now prices are surging, up about 70% in New York since...
by sundelbolong | May 19, 2020 | Business & Finance News
Saudi Aramco is the first major global oil producer to see its stock recover to the level it traded at before the price war between Russia and Saudi Arabia. Aramco climbed 3.1% in Riyadh on Tuesday, advancing for a record sixth day alongside an extended increase in...
by sundelbolong | May 18, 2020 | Business & Finance News
Oil rose above $30 a barrel for the first time in two months as producers in the US and elsewhere continued to cut activity, helping to rebalance a market that was thrown into disarray by coronavirus lockdowns. Futures in New York climbed around 5% after almost...
by sundelbolong | May 14, 2020 | Business & Finance News
Arab stock markets plunged almost a quarter in value in the first three months of 2020 due to the coronavirus pandemic and the collapse in oil prices, a UN agency said Thursday. “The drop in oil prices and the Covid-19 pandemic resulted in a 23% average loss for...
by sundelbolong | May 12, 2020 | Business & Finance News
Saudi Arabia said Monday it had asked oil giant Aramco to cut its output by an additional one million barrels per day from June, to support prices that have crashed during the coronavirus crisis. The move will reduce the production of the world’s biggest crude...
