Tag: Saudi Arabia
Virus Update: U.S. Cases Climb 3.2%; Saudis Face ‘Painful’ Cuts
(Bloomberg) -- U.S. cases of coronavirus rose 3.2%, which is higher than the one-week daily average. New York’s new deaths rose slightly while hospital admissions fell. The...
Covid-19 Testing: Saudi Arabia, Chinese Firm Sign US$265mn Deal
Saudi Arabia has entered into a US$265 million ((Saudi Rials 995 million) deal with a Chinese firm to ramp up coronavirus (Covid-19) testing.
The Kingdom,...
Oil Regains Some Ground After 10% Drop While Demand Fears Linger
(Bloomberg) -- Oil eked out a small gain after tumbling 10% on Tuesday as concerns over virus-driven demand destruction overshadowed a historic deal by the...
The Secret Weapon Giving Mexico Power in the Oil Price War
(Bloomberg) -- As Mexico and Saudi Arabia fight over a deal to bring the oil-price war to an end, Mexico has a powerful defense: a massive Wall...
Oil Retreats After Sharp Rally on Doubts Over Price-War Truce
(Bloomberg) -- Oil gave up some of last week’s rally after a delay to a planned meeting of top producers to discuss output curbs and...
Oil Plummets to 17-Year Low as Broken Market Drowns in Crude
(Bloomberg) -- Oil slumped to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and...
U.S. Calling on Saudis to Halt Plan to Unleash Record Oil Supply
(Bloomberg) -- The Trump administration is pressing Saudi Arabia to dial back its plan to flood the oil market after a price war with Russia...
Mideast Stocks Drop Despite $47 Billion of Central Bank Aid
(Bloomberg) -- Most equity markets in the Middle East fell on Sunday, despite efforts by central banks across the region to protect economies from shocks...
Aramco Slashes Spending as Virus Erases Oil Demand Growth
(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...
Abu Dhabi Plans Big Oil Output Boost to Join the Price War
(Bloomberg) -- Abu Dhabi National Oil Co. will boost crude supply to more than 4 million barrels a day next month as the United Arab...