Articles by admin

(Bloomberg) — Saudi Aramco is slashing planned spending this year in the first sign that plunging demand and the oil-price war the kingdom unleashed are hitting home.Capital expenditure will be between $25 billion and $30 billion in 2020 and spending plans for next year and beyond are being reviewed, Aramco said. The oil giant is lowering that range from the planned $35 billion to $40 billion announced in its IPO prospectus, and compares with $32.8 billion in 2019.“That was the surprise,” Ahmed Hazem Maher, an analyst at EFG Hermes in Cairo, said of the spending cut. “They’re adding production in …read more […]

When many people think of the stock market, they envision the Hollywood version of Wall Street. Tickertape strewn across the floor. TVs with prices and symbols continuously rolling across them. People shouting to buy or sell. But that’s a pretty far cry from what it looks like today! So, what is the stock market, really?
Today the stock market is less a physical place and more a digital one. True, shares used to trade back and forth on the floor at the New York Stock Exchange (NYSE). But today the market exists online. You can still trade shares on the NYSE, …read more […]

(Bloomberg Opinion) — It’s just become a lot harder to make long-term investment decisions in the oil industry. And no, I’m not talking about the need to transition to a low-carbon economy, or the backlash from climate activists and investors. Any veneer of certainty about the future path of oil prices has evaporated.This is the second time in six years that Saudi Arabia has embarked on a pump-at-will oil production policy that has hammered prices. Whether it’s aimed at Russia or the U.S. shale sector, producers everywhere — from OPEC members such as Angola to corporate behemoths like Exxon Mobil …read more […]

Economic data will begin to influence, though news updates on the coronavirus, central bank and government actions will continue to be the key drivers …read more […]

Between March 16 and May 6, American will reduce its international capacity by 75% on a year-over-year basis, it said in a statement, adding the changes will result in the airline parking nearly its entire widebody fleet. The airline also anticipates its domestic capacity in April will be reduced by 20% on a year-over-year basis. …read more […]

(Bloomberg) — With the coronavirus outbreak rewriting the rules of the global economy, the Federal Reserve is under increasing pressure to keep the flow of support coming this week.The U.S. central bank is facing calls to slash borrowing costs to zero at or before Wednesday’s decision, adding to its attempt last week to buttress free-falling markets with extra bond purchases. The Bank of Japan is also expected to act, after a week that saw institutions around the world cut rates and unleash a raft of extraordinary targeted measure to keep economies afloat amid the spreading pandemic.What Bloomberg’s Economists Say…“Given the …read more […]

It’s a mixed start to the day for the majors. Failure to break back through early highs could well lead to another sell-off… …read more […]