When OPEC, Russia and their allies agreed in April to slash oil production, little did they expect that their initiative to prop up collapsing prices would be helped by a swift drop in U.S. output.

• June 3, 2020

The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns.

• March 30, 2020

Saudi Arabia said on Friday it was not in talks with Russia to balance oil markets despite rising pressure from Washington to stop a price rout amid the coronavirus pandemic and an attempt by Moscow to fix a rift with the de facto OPEC leader.

• March 30, 2020

Oil prices extended their decline on Monday, with record low U.S. gasoline prices leading the energy complex lower, as the coronavirus pandemic crushes demand worldwide after travel and industrial activity contracted across the globe in a bid to stem the spread of the virus.

• March 23, 2020

OPEC slashed on Wednesday its forecast for global growth in oil demand this year due to the coronavirus outbreak and said more revisions might follow, underlining the deepening impact of the virus on the market days after a pact on output cuts collapsed.

• March 11, 2020

Equinor (EQNR.OL) reported the oil industry’s first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms.

• March 11, 2020

Economists at Bank of America Merrill Lynch have substantially lowered their 2020 economic growth forecast for Latin America, citing the hit to activity from the global coronavirus outbreak and the region’s exposure to lower oil prices.

• March 11, 2020

Saudi Arabia and other OPEC members struggled on Wednesday to win support from Russia to join them in additional oil output cuts in a bid to prop up prices which have tumbled by a fifth this year because of the coronavirus outbreak.

• March 4, 2020