2020 Year of Crisis: Middle East

Jul.31 — The Middle East was hammered by the double whammy of Coronavirus lockdowns and a collapse in oil prices. But tourists are returning, businesses are trying to get back to normal, and even Saudi Arabia says there’s light at the end of the tunnel. We check in on how the Gulf is coping in … Read more 2020 Year of Crisis: Middle East

Exxon, Chevron lose billions on price war, virus

ExxonMobil posted a $1.1 billion second-quarter loss and Chevron lost $8.3 billion as oil prices crashed and a global pandemic sparked a drop-off in worldwide demand for oil. Subscribe: http://smarturl.it/reuterssubscribe Reuters brings you the latest business, finance and breaking news video from around the globe. Our reputation for accuracy and impartiality is unparalleled. Get the … Read more Exxon, Chevron lose billions on price war, virus

Crude oil supplies fall with lower driving demand

The U.S. is seeing less gasoline and oil demand leading to crude oil prices in the $40-42 range. Insights via @CME Group: https://openmarkets.cmegroup.com/quicktake?utm_source=youtube&utm_medium=paid_social&utm_campaign=quicktake_evergreen&utm_content=more_insights Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm QUICKTAKE ON SOCIAL: Follow QuickTake on Twitter: twitter.com/quicktake Like QuickTake on Facebook: facebook.com/quicktake Follow QuickTake on Instagram: instagram.com/quicktake Subscribe to our newsletter: https://bit.ly/2FJ0oQZ Email us at … Read more Crude oil supplies fall with lower driving demand

What will Hajj be like during the pandemic? | The Stream

The Islamic ritual of Hajj is expected to begin on July 29, in the midst of a global pandemic, it will look unlike anything the Muslim world has seen before. Saudi Arabia, the location of the holy city of Mecca on which the pilgrimage centres, has said it will allow about 1,000 people to perform … Read more What will Hajj be like during the pandemic? | The Stream

Iraq builds mass grave in the desert as coronavirus deaths surge – BBC News

Iraq is facing a big surge in coronavirus cases, with aid agencies warning the pandemic threatens to cause havoc in a country already badly hit by a fall in oil prices. The number of confirmed cases now exceeds 100,000 and the authorities have built huge new graveyards in the desert to cope with the rising … Read more Iraq builds mass grave in the desert as coronavirus deaths surge – BBC News

Could the United States break Hong Kong’s peg to the dollar? | Counting the Cost

In recent weeks, the United States has announced a number of economic policies aimed at China. These include imposing sanctions on Chinese officials over human rights violations of Uighur Muslims, ending preferential trade treatment for Hong Kong, and passing the Hong Kong Autonomy Act, which allows for further sanctions. It comes amid rising tensions between … Read more Could the United States break Hong Kong’s peg to the dollar? | Counting the Cost

India’s fuel prices at the pumps rise despite low oil prices

The rising cost of petrol and diesel in India is provoking protests in many cities. Prices at the pumps have increased almost daily for the past three weeks, despite low oil prices. The government says it has raised fuel taxes to offset the economic crisis caused by the lockdown. Critics accuse leaders of making huge … Read more India’s fuel prices at the pumps rise despite low oil prices

U.S. oil production moves with price signals

When oil prices dropped with the pandemic, shale producers slowed drilling new wells. Insights via @CME Group: https://openmarkets.cmegroup.com/quicktake?utm_source=youtube&utm_medium=paid_social&utm_campaign=quicktake_econ&utm_content=more_insights Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm QUICKTAKE ON SOCIAL: Follow QuickTake on Twitter: twitter.com/quicktake Like QuickTake on Facebook: facebook.com/quicktake Follow QuickTake on Instagram: instagram.com/quicktake Subscribe to our newsletter: https://bit.ly/2FJ0oQZ Email us at quicktakenews@gmail.com QuickTake by Bloomberg is … Read more U.S. oil production moves with price signals

SHEIKHS in Distress: CRISIS in the PERSIAN GULF – VisualPolitik EN

War in Yemen, war in Syria, confrontation with Iran, a diplomatic crisis with Qatar and now, to top it off, the coronavirus crisis and the collapse in oil prices. The Persian Gulf countries have been living on the brink of a nervous breakdown for a few years. And yet these are some of the richest … Read more SHEIKHS in Distress: CRISIS in the PERSIAN GULF – VisualPolitik EN

Nationwide anger as Iraq announces pension cuts

Iraq is facing its worst economic crisis since 2003, worsened by the global drop in oil prices and the coronavirus pandemic. Mustafa al-Kadhimi’s government led by has proposed austerity measures, including capping the amount and number of state salaries and pensions people can receive. Many people rely on pensions and reparations from the government. Al … Read more Nationwide anger as Iraq announces pension cuts

Bleak oil outlook cuts $17.5 billion off BP assets

BP has written down its assets by $17.5 billion after concluding that oil prices will stay weaker than it expected for a long time Subscribe: http://smarturl.it/reuterssubscribe Reuters brings you the latest business, finance and breaking news video from around the globe. Our reputation for accuracy and impartiality is unparalleled. Get the latest news on: http://reuters.com/ … Read more Bleak oil outlook cuts $17.5 billion off BP assets

World Bank’s Neman: ‘Critical time’ as Iraq faces multiple crises | Talk to Al Jazeera

After months of anti-government protests and political uncertainty, Iraq is now grappling with its worst fiscal crisis in decades. The country’s economy and state budget are heavily reliant on oil income, and have been hit hard by the sharp decline in global oil prices. The World Bank has projected Iraq’s GDP to contract by 9.7 … Read more World Bank’s Neman: ‘Critical time’ as Iraq faces multiple crises | Talk to Al Jazeera