The misery index over the Middle East right nowGif: Ground Wind Map As the global feast and celebration for Muslims around the world known as Eid ended on Thursday night, the Middle East has been caught in a searing heat wave. The region, where 20% of the world’s Muslim population …
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ExxonMobil reported its biggest quarterly loss in history on Friday when the coronavirus pandemic reduced demand and oil prices. The Texas-based oil giant lost nearly $ 1.1 billion from April to June, as COVID-19 caused a historic drop in oil prices that hurt its production business. That came immediately after …
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Text size David McNew / Getty Images Exxon Mobil and Chevron report earnings on Friday amid a bleak period for energy reserves. Most of the oil and gas names collapsed on Thursday, because the path back to “normal” in recent months is likely to be more complicated than investors initially …
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BEIJING (Reuters) – China’s crude oil imports from Saudi Arabia increased 15% in June from a year ago, as refineries ordered record volumes of fuel in March and April when oil prices fell, solidifying the position of the kingdom as the main supplier of oil to China. FILE PHOTO: An …
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Text size David McNew / Getty Images Oil services company Schlumberger is cutting 21,000 jobs after a disastrous quarter. Analysts are optimistic. Schlumberger’s (ticker: SLB) second-quarter results, released Friday morning, were grim at first glance: a 35% year-over-year revenue decline and a plan to cut a quarter from staff. But …
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