IEA sees bear oil market as stocks balloon
The world is awash with oil having built record stockpiles in recent months and slowing demand growth combined with resilient non-OPEC supply could worsen...
Lockheed Martin separating unit, combining it with Leidos
Lockheed Martin is separating its information systems and global solutions unit, combining it with the engineering company Leidos so that it can focus on...
World Bank: Slowing emerging markets hamper oil recovery
The World Bank warned Tuesday that slowing emerging-market economies were hampering an oil recovery, and prices could sink further in a blow to a...
Oil producers keep output freeze revival on standby if prices weaken
Russian Energy Minister Alexander Novak has a contrarian message for those who question the wisdom of freezing global levels of oil output.
Despite the collapse...
Abu Dhabi lays off staff as Gulf austerity tightens
Thousands of layoffs at state-linked companies in Abu Dhabi are a fresh sign the Gulf's wealthy oil states are hunkering down for a long...
A 500 mln dinar increase in Kuwait ministries budget
Following the Coronaviurs outbreak, state news agency (KUNA) reported that Kuwait's cabinet approved a bill on Monday to increase the budget of ministries and...
Lebanon banks to shut amid Coronavirus
For the safety of employees during the Coronavirus outbreak, bank branches in Lebanon will close from March 17-29, the banking association said on Monday.
It...
Saudi issues new Islamic sukuk to finance budget
Saudi Arabia said Tuesday it has completed the issuance of a new Islamic sukuk sale to help finance its budget deficit as the kingdom...
Saudi Arabia: Low oil price threatens future supply crisis
Leading crude oil exporter Saudi Arabia warned on Monday of a supply crisis after massive energy investments were cancelled because of the sharp decline...
Boeing and Iran airlines in talks on new aircraft sales
U.S. aerospace giant Boeing expressed caution Monday after executives held talks in Iran on providing new aircraft to Iranian carriers last week.
Two months after...
