The European Union’s competition chief told the Financial Times that member countries should buy stakes in companies to counter the threat of Chinese takeovers, with her comments coming as the EU formulates plans to protect its businesses amid the coronavirus outbreak.
Mexico will reduce its oil output by 100,000 barrels per day (bpd) from May after top oil producers collectively agreed to cut production by 9.7 million barrels per day at OPEC+ talks, Mexican officials said on Sunday.
The United Arab Emirates is committed to reducing oil production from its current level of 4.1 million barrels per day (MBOPD), energy minister Suhail Al Mazrouei said in a tweet on Sunday.
Russian President Vladimir Putin, U.S. President Donald Trump and Saudi Arabia’s King Salman all supported the OPEC+ deal to cut global crude output, the Kremlin said on Sunday.
OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10% of global supply, to support oil prices amid the coronavirus pandemic.
Mexico’s Energy Minister Rocio Nahle said on Sunday oil producers unanimously agreed to cut output by 9.7 million barrels per day from May at OPEC+ talks and thanked OPEC members for their support in reaching the deal.
OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10% of global supply, to support oil prices amid the coronavirus pandemic, sources said.
Kazakhastan’s Energy Ministry said on Sunday it confirmed reports that the OPEC+ group of countries had agreed to cut the global oil output by 9.7 million barrels per day for two months starting on May 1.
(Bloomberg) — The world’s top oil producers pulled off a historic deal to cut global crude output and put an end to a devastating price war.After a week-long marathon of bilateral talks and four days of video conferences with government ministers from around the world — including the OPEC+ alliance and Group of 20 nations — an agreement finally emerged to tackle the impact of the global pandemic on demand.The talks almost fell apart because of resistance from Mexico, but came back from the brink after a weekend of urgent diplomacy — as the clock ticked down to the market …read more […]
Smithfield Foods, the world’s biggest pork processor, said on Sunday it will shut a U.S. plant indefinitely due to a rash of coronavirus cases among employees and warned the country was moving “perilously close to the edge” in supplies for grocers.
The coronavirus outbreak, big bank earnings and retail sales data will be in focus this week. …read more […]
OPEC, Russia and other oil producing nations were meeting on Sunday in a bid to clinch a deal on the biggest oil cut ever, amounting to 10 percent of global supply, after their initial efforts to support oil prices amid the coronavirus pandemic were blocked by Mexico.
Chinese tech giants Tencent and Alibaba filed the most blockchain patents in 2019. Together, they accounted for over 20% of the total.The post Chinese tech giants Tencent, Alibaba filed for the most blockchain patents last year appeared first on The Block. …read more […]
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