US shale producers, including Occidental Petroleum Corp , deepened spending cuts that could reduce production
The escalating coronavirus fear and price war between oil producing countries led to a sharp 23% one-day fall in crude oil prices on Monday
A sustained drop in crude oil prices will affect the capital expenditure plans of ONGC and OIL
Staples expected to get cheaper in coming 2 months
Staples expected to get cheaper in coming 2 months
27 per cent drop in oil prices portends an extended global economic turbulence far beyond Covid-19 or even Trumpian trade bravado
In the eurozone, Frankfurt's DAX 30 jumped 3.5 per cent and the Paris CAC 40 rallied 4.2 per cent
Brent crude futures were up $3.36, nearly 10%, to $37.72 a barrel by 1041 GMT, after hitting a session high of $37.75 a barrel
Govt should seize the opportunity to improve its finances
Here's a selection of Business Standard Opinion pieces for the day.
A nearly 25% slump in oil prices triggered panic-selling and heavy losses on Wall Street's main stock indexes as the rapid spread of coronavirus amplified fears of a global recession
On Monday, Saudi Arabia reduced oil prices and offered to increase production, triggering a price war among oil-producing countries
The fall in oil prices comes at a time when the global economy is already reeling under the impact of coronavirus, which has dented demand across sectors and economies
As confidence on equities declines, large oil producers may hesitate to loosen their purse strings, thereby impacting valuations too
The carnage in the equity market wiped out investor wealth worth Rs 6,84,277.65 crore, taking the total m-cap to Rs 1,37,46,946.76 crore on the BSE at the end of Monday's trading session.
The failure of the Vienna talks added to increasing investor nervousness over the coronavirus epidemic that has dampened oil demand
Deal between Russia and OPEC shook on Friday when OPEC, led by Saudi Arabia, failed to reach agreement with the world's No. 2 oil producer Russia to deepen production cuts aimed at shoring up prices.
An OPEC+ delegate said there were "positive signs" after a separate, earlier OPEC+ meeting had finished.
Brent crude rose by 78 cents, or 1.5%, to $51.91 per barrel by 0202 GMT
Brent crude lost 17 cents to trade at $51.73 a barrel by 1:28 p.m. EST (1628 GMT). U.S. crude traded 1 cent lower at $46.74 a barrel