Oil prices

One-two punch of new virus, falling oil prices threaten Iraq
Middle East

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

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

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

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

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

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

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

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

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

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…
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