Oil worker at BP's Alaska facility tests positive for new coronavirus
A worker at BP Plc's operation in Alaska's North Slope has tested positive for the novel coronavirus that has killed more than 42,000 people worldwide, the company confirmed Tuesday. It is the first case at an Alaskan oil installment in the North Slope, where the ...
Fossil fuel-rich Russia has for the first time set out a greener economic path for the coming three decades, in a long-term, low-carbon development plan released this week. It pledges to cut planet-warming emissions by a third by 2030 from 1990 levels, when the heavily ...
Japan inflation rate slowed to 0.6% in February as virus shock spread
Japan's inflation rate slowed down to 0.6 percent in February from a year earlier, reflecting decreases in crude oil prices and concerns over global economic growth due to the outbreak of the new coronavirus that causes COVID-19, government data showed Thursday. The nationwide core consumer ...
Iraq faces calamity as oil prices crash amid protests and coronavirus crisis
Between plummeting oil prices, political deadlock and reduced global appetite for a bailout, Iraq is on the cusp of financial calamity that could force austerity measures and renew anti-government protests. But officials appear remarkably optimistic, a view that experts described as being "in denial" given ...
Markets plunge as intervention fails to staunch coronavirus panic
Stock markets and oil prices went into freefall Monday as interest rate cuts and fresh stimulus measures by central banks failed to dampen fears amid the global coronavirus pandemic. The U.S. Federal Reserve on Sunday slashed borrowing costs to zero — its second emergency cut ...
Coronavirus unleashes economic warfare
The face-off between Saudi Arabia and Russia is a potent reminder of just how rapidly countries are taking the gloves off when it comes to economic confrontation.
Tokyo stocks falter, but rebound after Dow plummets over coronavirus fears
Tokyo stocks plunged again Tuesday morning after the Dow Jones Industrial Average marked its largest single-day point drop over global coronavirus fears, but losses were trimmed later on hopes for U.S. stimulus measures. A rebound by the dollar also helped ease investor anxiety. The dollar ...
Spooked by coronavirus uncertainty, investors assuming the worst
No one knows where the coronavirus will show up next, whether authorities can contain it or how much damage it will leave behind. But professional investors aren't taking any chances. Spooked by uncertainty over the outbreak and an ill-timed oil war between Russia and Saudi ...
Nikkei slips below 19,000 for first time since 2018 as rout continues
The benchmark Nikkei average slipped below 19,000 for the first time since December 2018 on the Tokyo Stock Exchange on Tuesday morning following a historic overnight plunge on Wall Street. At 9:38 a.m., the 225-issue Nikkei average stood at 18,895.46, down 803.30 points, or 4.08 ...
OPEC talks with Russia have ended in dramatic failure, auguring the end of a diplomatic alliance between Riyadh and Moscow that has underpinned crude prices and changed the balance of power in the Middle East. Brent crude, the global benchmark, plunged the most in more ...
President Donald Trump's decision to defend the U.S. government's power to broadly exempt oil refineries from biofuel-blending requirements is triggering a backlash in Iowa and other states that are top producers of ethanol and the corn used to make it. Nine biofuel and agriculture advocacy ...
OPEC agrees to large oil output cut amid virus outbreak if Russia joins, sources say
OPEC agreed on Thursday to cut output by an extra 1.5 million barrels per day in the second quarter of 2020 to support prices amid an outbreak of coronavirus but made it conditional on Russia joining in, two OPEC sources said. The oil demand outlook ...
