Falling Oil Prices Cause Saudi Aramco’s Profit to Slip 19 Percent
But at nearly $32 billion, the oil giant’s quarterly earnings still far exceeded those of Western rivals, and it announced an increase in dividend payments.
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In Surprise, OPEC Plus Announces Cut in Oil Production
Oil prices soared 7 percent on Sunday night after the group’s move to cut 1.2 million barrels a day.
Posted inCoronavirus (2019-nCoV) International Trade and World Market Oil (Petroleum) and Gasoline Organization of the Petroleum Exporting Countries Prices (Fares, Fees and Rates) Russia Russian Invasion of Ukraine (2022) Saudi Arabia Saudi Aramco
In Surprise, OPEC Plus Announces Cut in Oil Production
The move is an apparent effort to boost prices. Still, its significance may be slight, especially if the global economy slows.
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Markets Climb as Silicon Valley Bank Finally Finds a Buyer
First Citizens agreed on Sunday to acquire the failed lender’s retail operations, a move that will cost taxpayers but is reassuring investors.