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April 7, 2020
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Oil drops on growing crude glut, doubts over output cuts

Reuters
NEW YORK (Reuters) – Oil slumped on Tuesday in the face of swelling crude supplies and weak fuel demand due to the coronavirus pandemic, while investors also grew cautious over expectations that the world’s biggest producers would quickly agree on output cuts. FILE PHOTO: An oil pump jack pumps oil......
Reuters - Business

Oil little changed as hopes for output cuts offset by crude glut

Reuters
NEW YORK (Reuters) – Oil was little changed on Tuesday as hopes that the world’s biggest producers would agree to cut output were tempered by a worsening crude oil glut and the threat of a deeper-than-expected global recession. FILE PHOTO: An oil pump jack pumps oil in a field near......
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Exxon lops 30% off 2020 spending, deeper and later than rivals

Reuters
HOUSTON (Reuters) – Exxon Mobil Corp (XOM.N) on Tuesday throttled back investment in shale, natural gas and deep water production, cutting planned capital spending by 30% this year as the coronavirus pandemic saps energy demand and oil prices tumble. FILE PHOTO: FILE PHOTO: Darren Woods, CEO of Exxon Mobil Corp......
Reuters - Business

Last but not least: Exxon chops spending by 30%

Reuters
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes HOUSTON (Reuters) – Exxon Mobil Corp (XOM.N) on Tuesday throttled back a multi-year investment spree in shale, LNG and deep......
Reuters - Business

Outbreak shows signs of leveling off in New York, New Jersey, but vigilance urged

Reuters
NEW YORK (Reuters) – The governors of New York, New Jersey and Louisiana pointed to tentative signs on Monday that the coronavirus outbreak may be starting to plateau in their states but warned against complacency as the death toll nationwide approached 11,000. Although coronavirus cases and deaths continued to mount,......
Reuters - Business

Coronavirus spread may be leveling off in New York, New Jersey; vigilance urged

Reuters
NEW YORK (Reuters) – The governors of New York and New Jersey pointed to tentative signs on Monday that the coronavirus outbreak was starting to plateau but warned against complacency as the nationwide death toll topped 10,000 and the number of known U.S. infections surpassed 350,000. New York Governor Andrew......
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New York, New Jersey see early signs of coronavirus ‘flattening’

Reuters
NEW YORK (Reuters) – The governors of New York and New Jersey said on Monday their states were showing tentative signs of a “flattening” of the coronavirus outbreak, but they warned against complacency as the nationwide death toll topped 10,000 and the number of cases reached 350,000. New York Governor......
Reuters - Business

Governor Cuomo sees signs of pandemic ‘flattening’ in New York

Reuters
NEW YORK (Reuters) – New York Governor Andrew Cuomo on Monday cited tentative signs the coronavirus outbreak was “flattening” in his state but warned against complacency as the U.S. death toll topped 10,000 and the number of cases reached 350,000. New York reported 4,758 coronavirus-related deaths as of Monday, an......
Reuters - Business

With hospitals stressed, U.S. enters ‘peak death week’ in coronavirus crisis

Reuters
WASHINGTON (Reuters) – The United States entered what an official called the “peak death week” of the coronavirus on Monday while a watchdog report said hospitals were struggling to maintain and expand capacity to care for infected patients. The U.S. death toll, which topped 10,000 on Monday, was rapidly closing......
Reuters - Business

Stocks jump as COVID deaths slow; oil falls on OPEC+ delay

Reuters
NEW YORK/LONDON (Reuters) – World stock markets jumped on Monday, encouraged by a slowdown in coronavirus-related deaths and new cases in some of the world’s hot spots, while a delay in talks between Saudi Arabia and Russia to cut supply sent oil prices tumbling again. Equities investors were encouraged as......
Reuters - Business

Take Five: Life in the time of corona

Reuters
LONDON (Reuters) – 1/LOOKING TO CHINA FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020. REUTERS/Lucas Jackson The world’s biggest economy won’t be open for business by Easter, as U.S. President Donald Trump had hoped, but the second......
Reuters - Business

American joins United, others in suspending more NYC flights on coronavirus spike

Reuters
(Reuters) – American Airlines Group Inc (AAL.O) said late Sunday it would suspend more flights in and out of New York City’s three main airports for about a month, joining other airlines that have cut flights to the area following a spike in coronavirus cases. FILE PHOTO: A member of......
Reuters - Business

How the coronavirus job cuts played out by sector and demographics

Reuters
(Reuters) – The job losses suffered in March as the U.S. economy shut down in the face of the novel coronavirus pandemic were widespread but still were disproportionately felt in a handful of employment sectors and by women, the young and the less educated. Colorized scanning electron micrograph of an......
Reuters - Business

OPEC+ debates biggest-ever oil cut, awaits U.S. efforts

Reuters
DUBAI/LONDON/MOSCOW/NEW YORK (Reuters) – OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of worldwide supply in what they expect will be a global effort including the United States, but the White House did not make such a commitment after......
Reuters - Business

Coronavirus brings record U.S. job growth to an end in March

Reuters
FILE PHOTO: People walk on a temporarily closed section of the Grand Concourse during the outbreak of the coronavirus disease (COVID-19) in the Bronx borough of New York City, New York, U.S., April 2, 2020. REUTERS/Brendan Mcdermid WASHINGTON (Reuters) – The U.S. economy shed jobs in March, abruptly ending a......
Reuters - Business

Trump touts ‘great’ Saudi-Russia oil deal to halt price rout, but details unclear

Reuters
DUBAI/MOSCOW/WASHINGTON (Reuters) – U.S. President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear. Trump said the two......
Reuters - Business

Asian markets look to follow Wall Street rally as oil surges

Reuters
NEW YORK (Reuters) – Asian markets on Friday looked to latch onto Wall Street’s overnight gains after crude prices notched their biggest one-day surge on record, helping offset concerns about the depth of a global recession. FILE PHOTO: A pedestrian wearing a face mask walks near an overpass with an......
Reuters - Business

Oil refiners face reckoning as demand plummets

Reuters
HOUSTON/NEW YORK (Reuters) – The global oil refining industry is facing a reckoning from falling fuel demand that is the deepest and fastest ever. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. . REUTERS/Angus......
Reuters - Business

Asian stocks slip as global recession looms

Reuters
SYDNEY/NEW YORK (Reuters) – Asian equity markets and crude oil looked set for further losses on Thursday, after a dire warning about the U.S. coronavirus death toll and mounting evidence the fast-spreading disease has sent the world economy hurtling into a deep recession. FILE PHOTO: Passersby wearing protective face masks......
Reuters - Business

Oil ends lower after U.S. crude stockpiles jump, gasoline demand sinks

Reuters
NEW YORK (Reuters) – Oil prices fell on Wednesday after U.S. crude inventories rose last week by the most since 2016, while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic. General view of oil tanks and the Bayway Refinery of Phillips 66 in Linden, New......

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