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The International Energy Agency called the countries of OPEC and other major oil producers for the increase of their production, Bloomberg reports. In its appeal, the IEA notes the danger of the current situation, as the oil markets are entering the red zone. IEA experts have already expressed concerns about the rise in oil prices, which, in their opinion, will affect demand in a number of the most rapidly developing countries. They believe that oil producers should take significant measures to increase supplies, otherwise the fourth quarter will be very difficult. Oil prices rose by 20% from August, amid a faster-than-expected reduction in Iran’s exports and a decline in production in Venezuela.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
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