Saudi Arabia says no talks on new oil deal, Moscow suggests larger OPEC+
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.
Global oil refiners shut down as coronavirus destroys demand
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.
Goldman Sachs sees 1% drop in global GDP due to 'coronacrisis'
Goldman Sachs said it expected global real gross domestic product to contract by about 1% in 2020, a sharper economic decline than in the year following the 2008 global financial crisis.
Crude extends fall with U.S. gasoline down 20% as global shutdowns sap demand
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.
Factbox: UK companies delay results after regulators relax reporting rules
British companies on Monday rushed to heed unprecedented calls by regulators to mothball their results so they can better assess how the coronavirus pandemic is affecting their business.
Oil slumps below $30 a barrel as coronavirus spreads, OPEC rancor remains elevated
Oil prices fell below $30 a barrel on Monday after the worldwide coronavirus outbreak worsened over the weekend, exacerbating fears that government lockdowns to contain the spread of the disease would spark a global recession.
Developing nations may lose up to 85% of oil and gas income this year: IEA, OPEC
Developing nations’ oil and gas income will fall by 50% to 85% this year to a more than two-decade low if current market conditions persist, the International Energy Agency and OPEC said in a rare joint statement on Monday, citing recent IEA analysis.
BAML cuts Latam 2020 GDP forecast to 0.7% on coronavirus, oil shocks
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.
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