U.S and Russian energy officials held rare talks about oil after crude prices crashed to levels last seen about two decades ago, while President Donald Trump said oil that was cheaper “than water” was hurting the industry.
The German government stands ready to take over airline Condor after an agreement by Polish carrier LOT to acquire the carrier is likely to collapse, several people familiar with the matter told Reuters.
The market ‘looks the most like the crash of 1929,’ he says. …read more […]
One thing we could say about the analysts on Royal Caribbean Cruises Ltd. (NYSE:RCL) – they aren’t optimistic, having… …read more […]
Anyone researching JetBlue Airways Corporation (NASDAQ:JBLU) might want to consider the historical volatility of the… …read more […]
(Bloomberg) — Saudi Arabia showed no sign of bowing to pressure from U.S. President Donald Trump to dial back its oil-price war with Russia. Instead, the kingdom pushed crude supply to record levels.Trump said Tuesday night that he’d spoken to both President Vladimir Putin and Crown Prince Mohammed bin Salman in an effort to broker a truce between the world’s two largest oil exporters.Saudi Arabia started the month by boosting supply to more than 12 million barrels a day, the largest on record, according to an industry official familiar with the kingdom’s operations. Aramco declined to comment.So far, Riyadh has …read more […]
The world’s biggest maker of medical gloves is grappling with a serious shortage of workers as it tries to meet a huge surge in demand as countries such as the United States run out of personal protective gear due to the coronavirus outbreak.
The external fund manager backed by Berkshire Hathaway’s Charlie Munger, Li Lu, makes no bones about it when he says… …read more […]
Top news and what to watch in the markets on Wednesday, April 1, 2020. …read more […]
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 Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending.
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 its worst quarter since the 2008 financial crisis.
Factories fell quiet across most of Europe and Asia in March as the coronavirus pandemic paralyzed economic activity, with evidence mounting that the world is sliding into deep recession.
BP cut its 2020 spending plan by 25% and will reduce output from its U.S. shale oil and gas business in the face of the collapse in oil prices triggered by the corononavirus outbreak, it said on Wednesday. “This may be the most brutal environment for oil and gas businesses in decades,” CEO Bernard Looney said in a statement. The London-based company said it plans to spend $12 billion this year, joining its peers that have announced cuts of around 20% in annual spending on average. …read more […]
The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia and Russia.
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