Saudi Arabia is flooding Europe with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in an escalation of its fight with Moscow for market share, five trading sources said on Friday.
The United Arab Emirates joined Saudi Arabia on Wednesday in promising to raise oil output to a record high in April, as the two Persian Gulf Arab oil producers in OPEC took a united stand in a standoff with Russia that has hammered global crude prices.
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 US-led war against Iraq as Saudi Arabia and Russia signaled they would hike output in a market already awash with crude after their three-year supply pact collapsed.
Qatar has delayed choosing Western partners for the world's largest liquefied natural gas (LNG) project by several months after surprising the industry with a big expansion plan despite a collapse in global gas prices, four sources said.
Merck and Co. said it expects to make licensed doses of its recently approved Ebola vaccine available in the third quarter of 2020 and price the single-dose injection at the lowest possible access price for poor and middle-income countries.
The average price of a home will rise by two percent over the next year, with northern regions performing more strongly than those further south, according to predictions from the UK’s biggest property website.
In the wake of a move by the US House of Representatives to overwhelmingly pass legislation seeking sanctions against senior Chinese officials over the crackdown on mainly Muslim Uighurs in Xinjiang, the government in Beijing has warned that a "price must be paid."