EghtesadOnline: OPEC and its allies need to cut crude output by 500,000 barrels per day to clear the oil market's oversupply from the coronavirus outbreak, Iran’s Oil Minister said upon his arrival in Vienna on Wednesday.
EghtesadOnline: Oil prices slumped to their lowest in more than a year on Friday and were set for their steepest weekly fall in more than four years as the spread of the coronavirus stokes fears of slowing global demand.
EghtesadOnline: Oil prices changed little Monday as concerns of falling fuel demand caused by the economic fallout from the coronavirus outbreak in China were offset by expectations that output cuts from major producers will tighten crude supply.
EghtesadOnline: Samsung Electronics’ board chairman, Lee Sang-hoon, who was convicted and jailed for sabotaging union activities, has resigned from the South Korean company, it said on Friday.
EghtesadOnline: Chinese President Xi Jinping said on Monday that the government would prevent large-scale layoffs resulting from the coronavirus outbreak, Chinese state television reported, as Xi appeared among the public for the first time since the epidemic erupted in January.
EghtesadOnline: Credit Suisse CEO Tidjane Thiam says he is resigning after nearly five years on the job, acknowledging that a spying scandal caused “anxiety and hurt” and tarnished the reputation of the top-drawer Swiss bank.
EghtesadOnline: Oil prices extended declines on Monday, dragged down by worries about lower demand in the world’s largest oil importer China following the coronavirus breakout.
EghtesadOnline: A few hours away from the United Kingdom officially leaving the European Union, former EU Commission president Jean-Claude Juncker shared his thoughts in an interview with FRANCE 24.
EghtesadOnline: Crude prices extended declines on Monday, dropping below $60 for the first time in nearly three months as the death toll from China’s coronavirus rose and more businesses were forced to shut down, stoking expectations of slowing oil demand.
EghtesadOnline: International Bunker Industry Association (IBIA) visited various shipping and bunker participants in Copenhagen earlier in January and said players reported "a surprisingly smooth transition" to the International Maritime Organization's revamped sulfur regulations for marine fuel.