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Oil producers may struggle to gauge demand amid second coronavirus wave: energy watchdog
Global oil stocks which rose during the height of the pandemic are being steadily reduced, the International Energy Agency (IEA) said on Wednesday, but a second wave is slowing demand and will complicate efforts by producers to balance the
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Italy considers extending COVID-19 emergency until Jan. 31
ROME: Italy is considering extending until Jan. 31 next year its state of emergency over the COVID-19 crisis, two national newspapers said on Thursday. The emergency, set to expire in mid-October, gives the government greater powers, allowing
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Saudi Arabia looks to cut spending in bid to shrink deficit
Saudi Arabia plans to reduce spending next year by about 7.5 percent to SR990 billion ($263.9 billion) as it seeks to reduce its deficit. This compares to spending of SR1.07 trillion this year, it said in a preliminary budget statement. The
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Gulf financial resilience to help ‘difficult’ recovery
DUBAI: The Gulf region is expected to face a difficult recovery from the economic shock of the coronavirus disease (COVID-19) pandemic, but
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Few COVID-19 violations in Saudi Arabia's Eastern Province, municipality finds
DAMMAM: The Eastern Province municipality has carried out almost 400 inspections to ensure that commercial establishments in the province are
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Lufthansa to cut more jobs as it loses €500m a month
Lufthansa said Monday it will slash more jobs on top of 22,000 previously announced cuts and put more planes out of service with current losses
Read MoreSaudi Arabia reports 27 COVID-19 deaths, 492 new cases
Saudi Arabia recorded 27 new coronavirus deaths on Monday, bringing the total to 4,512 since the pandemic emerged. The Ministry of Health said the number of cases in the Kingdom now stands at 330,246, after 492 new cases were confirmed in the
Read MoreUS to surpass grim milestone of 200,000 COVID-19 deaths
The death toll from the spread of coronavirus in the United States was approaching over 200,000 lives on Monday, more than double the number of fatalities in India, the country reporting the second-highest number of cases in the world. The United
Read MoreOPEC+ panel to meet amid oil price decline
OPEC and allies, led by Russia, are scheduled to hold an online meet on Thursday to discuss compliance with their agreed output cuts and demand trends amid falling oil prices and a faltering economic recovery outlook. A panel of key producers
Read MoreCrunch meeting of oil alliance over cuts in output
Energy ministers from OPEC+, the oil alliance led by Saudi Arabia and Russia, are preparing for a crucial meeting on Thursday amid signs that the recovery in global oil markets is slowing down because of a resurgence in the COVID-19
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