Page 34 - Opec

Oil slumps below $30 as coronavirus spreads, OPEC rancor remains elevated

The coming flood of supply from Saudi Arabia and other producers could result in the largest surplus of crude in history, said global information provider IHS Markit

Saudi Aramco to cut capital spending over coronavirus; 2019 profits plunge

The 21% decline in net profit for last year means it fell short of analysts' forecasts for the period that culminated in the share sale, months before the coronavirus pandemic became a factor for oil

Coping during uncertain times

The fear of a severe economic impact from the pandemic hit the financial markets that had ignored interest rate cuts by central banks in many major economies

All asset classes are vulnerable as things stand, says Marc Faber

The Nifty50 index hit a lower circuit on Friday as panic spread.

Oil prices fall 8% after Donald Trump surprises with travel curbs

A flood of cheap supply coming onto the market from Saudi Arabia and the United Arab Emirates compounded pressure on prices

World's 2020 oil demand growth virtually eliminated over COVID-19: OPEC

OPEC reduced the growth in world demand for oil from 990,000 barrels per day to 60,000 bpd, a 93 per cent drop

UAE, Saudi Arabia to raise oil output as crude plunges over row with Russia

Russia said on Wednesday it would not reverse its decision as it still believed cutting output would make no sense if the virus hit demand deeper than expected

Sovereign wealth funds may cut down India play as oil prices drop

Foreign outflows could accelerate further if oil prices stay low

Oil prices fall as Saudi moves to boost output amid price war with Russia

West Texas Intermediate fell 1.7% to about $33 a barrel while Brent crude was off 1.7% at $36 a barrel

How to cope with $30 oil: Producers prepare for more spending cuts

The launch of a price war between Saudi Arabia and Russia drove oil prices down by about a third on Monday

Oil prices may have sunk but the energy market fallout has only just begun

The main beneficiaries are likely to be the main consuming countries such as India and China, but even there oil companies will be affected.

US blames 'state actors' for shocking oil markets, pleads for calm

Oil prices suffered their biggest daily rout since the 1991 Gulf War as top producers Russia and Saudi Arabia launched a price war in the face of weak demand prompted by the spread of the coronavirus

Oil firms promised billions to investors. Now what next after price crash?

Brent crude was trading at around $36 a barrel, down around 20 per cent by 16:45 GMT on Monday, when analysts lowered share price forecasts for top oil and gas producers

The oil crash

Govt should seize the opportunity to improve its finances

Oil plunges 25%, hit by erupting Saudi Arabia-Russia oil price war

A nearly 25% slump in oil prices triggered panic-selling and heavy losses on Wall Street's main stock indexes as the rapid spread of coronavirus amplified fears of a global recession

Crude collapse exposes Big Oil's weak points as valuations crash

Producers have cut costs, sold assets and canceled projects to repair balance sheets following crude's 2014-17 slump.

Low oil prices good for importing countries like India: HPCL chairman

What happened in China is, to some extent, related to COVID-19, but (the fall in oil price) is independent in its own ways

Market rout: India should take advantage of falling crude oil prices

Easy liquidity available earlier is drying up, debt is piling up, debt repayments are due and a lot of investors are looking for profitability and not just production growth.

BPCL stake sale may get delayed over falling oil prices, market crash

As confidence on equities declines, large oil producers may hesitate to loosen their purse strings, thereby impacting valuations too

Saudi Aramco shares dive 10%, Gulf debt markets hit in all-out crude war

DUBAI (Reuters) - Saudi Aramco <2222.SE> shares fell by as much as 10% on Monday, dropping below their December listing price after Saudi Arabia and Russia said they would raise oil production in a battle for market share, sending crude prices down by a third.