U.S.-Saudi oil alliance idea born at White House, put on back burner for now

‘DIFFERENT PLANET’ It is more difficult for the U.S. government to coordinate a production cut with another country because American oil companies are not state owned. But as Washington scrambles to limit the price shock that threatens to bankrupt companies and lay off thousands of oil and gas workers heading into the November election, it […]

China oil imports in Jan-Feb from Saudi Arabia rise 26% from year ago

* Jan-Feb Saudi shipments 1.79 mln bpd; +26% y/y * Russian Jan-Feb imports 1.71 mln bpd; +11% y/y * Iranian shipments down 81% y/y * Zero imports from the U.S. and Venezuela Jan-Feb By Muyu Xu and Chen Aizhu BEIJING/SINGAPORE, March 25 (Reuters) – China’s crude oil imports in the first two months of 2020 […]

UN General Assembly to decide on rival COVID-19 resolutions

It pledges “to take a comprehensive, science-based approach in elaborating, implementing and improving measures to slow down the transmission of, reverse and eventually defeat COVID-19,” following WHO rules and recommendations and supports those people and countries most affected.

Global virus deaths mount as US surpasses China’s official toll

While much of the world shuts down, the ground-zero Chinese city of Wuhan has started to reawaken in recent days, giving the bereaved the first chance in months to bury their dead. – AFP

Exclusive: U.S. aims to lease space in emergency oil stockpile, after buying plan canceled – sources

U.S. President Donald Trump ordered the DOE on March 13 to fill the reserve “to the top” to help oil producers suffering from the global oil price drop, and the initial solicitation asked for supply only from U.S. companies with fewer than 5,000 employees.

China’s CNOOC to slash capital spending, lower output targets in 2020

However, company executives saw only limited impact on CNOOC’s operations from the coronavirus outbreak in the first quarter and February oil and gas production was higher than a year earlier. They said oil prices of $50-60 were an acceptable level for producers over the longer term.

Stocks give up meager gains as virus anxiety prevails

The number of coronavirus infections globally headed toward 800,000. In a positive development, Deutsche Bank analysts noted the global growth in new cases was below 10% for two consecutive days, having exceeded that rate for most of the past two weeks.

GLOBAL MARKETS-Asian shares hold on to gains but virus keeps markets on edge

The dollar fell broadly on Tuesday after the U.S. Federal Reserve said it will allow foreign central banks to exchange their holdings of U.S. Treasury securities for overnight dollar loans to ease a dollar funding crunch.

Asian shares hold on to gains but virus keeps markets on edge

FILE PHOTO: A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock information, following an outbreak of the coronavirus disease (COVID-19), at Lujiazui financial district in Shanghai, China March 17, 2020. REUTERS/Aly Song

Over 400 Russian citizens stranded in India flown back

“Today, we saw off over 400 Russian nationals on Moscow-bound airplane. This was a fourth dedicated flight to bring our compatriots home. This mission required dedication on behalf of many agencies,” Ambassador of Russia to India Nikolay Kudashev said in a statement.