Oil prices
One-two punch of new virus, falling oil prices threaten Iraq
Middle East
March 20, 2020
One-two punch of new virus, falling oil prices threaten Iraq
BAGHDAD (AP) — The economic fallout from the coronavirus coupled with a sudden drop in oil prices is threatening to…
Saudi Arabia to slash spending by 5% as oil prices fall
Middle East
March 19, 2020
Saudi Arabia to slash spending by 5% as oil prices fall
DUBAI, United Arab Emirates (AP) — Saudi Arabia said the government will cut spending by 5%, or about $13.3 billion,…
Virus-hit Gulf has little room to boost revenue after oil price shock
Business
March 17, 2020
Virus-hit Gulf has little room to boost revenue after oil price shock
DUBAI (Reuters) — The coronavirus outbreak and plunging crude prices are a double blow that leaves Gulf Arab governments with…
Stocks, crude hammered as Trump’s Europe ban fans recession fears
Business
March 12, 2020
Stocks, crude hammered as Trump’s Europe ban fans recession fears
Equities and oil prices fell through the floor again on Thursday after Donald Trump banned all travel from Europe to…
Saudi, UAE economies rocked by plunging oil prices and virus
Middle East
March 11, 2020
Saudi, UAE economies rocked by plunging oil prices and virus
DUBAI, United Arab Emirates (AP) — It’s been a turbulent week for Saudi Arabia and the United Arab Emirates, and…
Oil drop, coronavirus are ‘perfect storm’ for Middle East, North Africa: World Bank
Business
March 11, 2020
Oil drop, coronavirus are ‘perfect storm’ for Middle East, North Africa: World Bank
DUBAI (Reuters) — A record drop in oil prices and the coronavirus outbreak have left the Middle East and North…
US dollar exchange rate in Egypt jumps amid coronavirus fears, plummeting oil prices
Business
March 10, 2020
US dollar exchange rate in Egypt jumps amid coronavirus fears, plummeting oil prices
The price of the US dollar against the Egyptian Pound went up in local banks during morning trading on Tuesday,…
Saudi Arabia increases oil output to record high
Business
March 10, 2020
Saudi Arabia increases oil output to record high
DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-run oil giant Saudi Aramco said Tuesday it would increase its crude…
Saudi Arabia cuts off travel over virus as markets tumble
Middle East
March 9, 2020
Saudi Arabia cuts off travel over virus as markets tumble
DUBAI, United Arab Emirates (AP) — Saudi Arabia closed off air and sea travel to nine countries affected by the…
Russia holds key to cuts in crucial meeting of OPEC, allies
Business
March 6, 2020
Russia holds key to cuts in crucial meeting of OPEC, allies
All eyes are on Russia at the gathering of OPEC countries and their allies Friday, with the cartel hoping to…