Paris, France | AFP | Total said Tuesday its quarterly profit fell by 99 percent because of dropping oil prices and announced it would slash investments in response to ongoing turmoil in crude markets. The French oil major reported a net profit of $34 million for the first quarter, against $3.1 billion a year earlier. …
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Singapore, Singapore | AFP | Oil prices fell on Monday after strong gains last week, with continued concerns about oversupply and storage capacity due to a coronavirus-triggered demand shock overshadowing massive output cuts. US benchmark West Texas Intermediate fell about eight percent to trade at $18.19 a barrel. International benchmark Brent crude fell three percent …
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Singapore, Singapore | AFP | US oil prices fell heavily Monday on renewed concerns over storage capacity as the coronavirus throttles demand, even as producers start slashing output to boost markets. US benchmark West Texas Intermediate dropped 9.3 percent to $15.36 a barrel in Asian morning trade. Brent crude, the international benchmark, was off 3.2 …
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London, United Kingdom | AFP | Oil prices made a spectacular comeback Thursday as fresh US-Iran tensions erupted while equities were slow to build on recent gains as data provided proof of a dire economic fallout from the coronavirus pandemic. At one point the US crude oil benchmark WTI was up …
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New York, United States | AFP | Beaten-down US oil prices rallied Wednesday following dramatic declines earlier this week, lifting global equities, even as American crude inventories surged closer to capacity levels. Futures for the benchmark West Texas Intermediate for June delivery jumped 19 percent to $13.78 a barrel in New …
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New York, United States | AFP | An unprecedented crash in oil prices is adding pressure to already stressed US producers, threatening key shale regions and putting vulnerable companies at risk of going under. A day after US oil futures closed in negative territory for the first time ever, US …
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Kampala, Uganda | THE INDEPENDENT | With the global oil prices trading cheaper than a bottle of mineral water, analysts are saying it raises severe questions on the ability for Uganda to have its oil out of the ground any time soon. On Monday, April 20, 2020, a barrel of oil …
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London, United Kingdom | AFP | Top oil producers started a crucial meeting on Thursday to discuss a possible cut in output after a collapse in demand due to the coronavirus and a Saudi-Russian price war caused the market to crash. The video conference meeting began shortly after 1440 GMT between …
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Singapore, Singapore | AFP | Oil prices fell sharply Monday after a meeting to discuss output cuts between OPEC and its allies was delayed, dimming hopes of swift action to support coronavirus-ravaged energy markets. US benchmark West Texas Intermediate plunged eight percent at the open in Asia but clawed back some ground and was trading …
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Baghdad, Iraq | AFP | As crude prices plunge, Iraq’s oil sector is facing a triple threat that has slashed revenues, risks denting production and may spell trouble for future exports. So what are the challenges facing the only significant industry in Iraq, as global oil prices fall to around $25 …
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