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Oil Price

Oil Price

Oil giant BP plunges into $16.8-bn quarterly loss

BP plunged into a net loss of almost $16.85 billion in the second quarter, the British oil giant announced Tuesday, as the coronavirus pandemic ravaged demand for oil, sending prices tumbling.

BP's chief executive Bernard Looney

Saudi govt adopts austerity measures

The twin shocks of the novel coronavirus pandemic and a plunge in oil prices have prompted the government to triple its value-added tax, suspend a monthly allowance to civil servants and slash ...

Saudi employees wear a protective maskes as they sort out boxes at the warehouse of Naqel Company Express, after the announcement of the easing of lockdown measures amid the coronavirus disease (COVID-19) outbreak, in Riyadh, Saudi Arabia on 9 June 2020

Reducing oil prices would benefit economy

The prices of fuel oil have dipped to a record low due to lockdowns imposed across the world amid coronavirus outbreak. According to the latest statistics, each barrel oil is being sold at $22 to ...

An oilfield worker walks past an oil sands facility in Alberta, 3 November 2011.

Oil down in Asia after big gains last week

Oil prices were down in Asian trade Monday after big gains last week on signs of a demand revival as some governments ease coronavirus lockdown measures

Oil down in Asia after big gains last week

Bangladesh ‘looks unable’ to take advantage of low fuel price

Bangladesh is unlikely to be able to take advantage of the declining oil price in the global market for lack of its additional storage capacity

In this file photo taken on 11 December 2019, shows an oil tanker at the port of Ras al-Khair, about 185 kilometres north of Dammam in Saudi Arabia's eastern province overlooking the Gulf

Asian shares fall on fresh rout in crude prices

Asian shares and US stock futures dipped into the red on Tuesday, erasing earlier gains as a renewed decline in oil prices overshadowed optimism about the easing of coronavirus-related restrictions ...

Asian shares fall on fresh rout in crude prices

Oil prices jump as US, Iran tensions rise

Oil prices soared Thursday as escalating tensions between the US and Iran in the Gulf eclipsed concerns about a coronavirus-triggered demand shock and storage facilities reaching capacity.

Oil prices jump as US, Iran tensions rise

US oil prices jump after massive rout

US oil prices surged Wednesday after falling below zero for the first time at the start of the week as markets drown in crude due to a virus-triggered collapse in demand.

US oil prices jump after massive rout

Wall Street tumbles amid oil crash

Wall Street’s major averages closed sharply lower on Monday as market sentiment was dented by a historic drop in US crude prices

Wall Street tumbles amid oil crash

Oil near 18-year lows

Oil languished at multi-year lows Thursday, with WTI crude close to its weakest level since 2002, as dire warnings about a virus-triggered demand shock overshadowed massive output cuts

Oil near 18-year lows
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