Tag Archives: opec

CoinspeakerWorld’s Largest Oil firm Saudi Aramco Reports 38% Drop in Q2 2023 Profits Despite the revenue drop during the second quarter, Saudi Aramco declared a $19.5 billion dividend payout to shareholders. World’s Largest Oil firm Saudi Aramco Reports 38% Drop in Q2 2023 Profits

Reducing oil production means there will be a relative shortage in the supply of the product. The recent actions by some members of the Organization of Petroleum Exporting Countries (OPEC) and its allies tagged OPEC+ to cut oil production beginning in May can significantly stir a setback for most country’s Central Banks. With Saudi Arabia and its key allies including the United Arab Emirates and Kuwait set to cut production by more than 1 million barrels per day, Russia’s projected 500,000...

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As there finally appeared some positive news about the coronavirus cases, the global markets started to react. Today in the pre-market, Dow futures have gained 837 points already.Global stock prices have risen in response to new COVID-19 statistics. The same we can say about stock futures and Dow futures are not an exception. Sources say that financial markets have gone into a rebound in anticipation of fewer infected and dead due to that coronavirus. Reports coming in from some of the most...

Saudi Arabia has called for an urgent meeting with all the OPEC members and the non-OPEC oil producers to stabilize the global oil prices. After the news, the oil price jumped almost 25%.The Saudi Arabia government has called for an urgent meeting of OPEC and a group of non-OPEC countries to try and reach a fair deal to restore balance to the oil prices. The news which was conveyed through the state news agency SPA has been revealed today on Thursday. As a result, oil prices jumped almost...

Oil prices seem to get better after a horrible week. OPEC may resume pumping the markets with fresh oil.Oil prices have recovered from the previous lows. Last week was one of the worst weeks in history since the global oil industry decided to start tracking prices. Sources say that prices rebounded slightly showing signs that the price drop may reverse. This also shows that things may not as bad as everyone thought. facing falling demand, the global oil industry went into a tailspin. This is...

Bitcoin price is down 12.5%, S&P 500, Nasdaq indexes as well as companies like Berkhire Hathway has also lost significantly since the beginning of the year. Oil war adds fire to the financial crash party.Since the year beginning, the halving hype was striking the news. Many of the industry experts issued predictions of a sharp price increase. However, even despite the halving that will make Bitcoin more scarce, coronavirus is drowning the markets. Bitcoin has gained a lot, yet lost -12.5%...

As the markets have started to recover after the recent fall, Bitcoin price has finally managed to go beyond the level of $8,000 today.The VIX volatility index, the stock market’s main risk indicator, skyrocketed to 55 on March 9. Created by the Chicago Board Options Exchange (CBOE), the Volatility Index, or VIX, is a real-time market index that represents the market’s expectation of 30-day forward-looking volatility. But not only the traditional markets have reacted to the global situation,...

Shares of Tesla (TSLA) were down 12.01% at the opening today as the oil price war between OPEC and Russia alongside deepening coronavirus anxiety in the U.S. rattled investors.Tesla Inc (NASDAQ: TSLA) stock has fallen drastically today by 12.01% retesting February’s low and support at the same time. Tesla stock market received a hard blow after OPEC and the Russians failed to come into a common agreement on the crude oil prices amidst the decline in global demand that has been as a result of...

Calling the coronavirus pandemic as an “unprecedented moment”, Apple boss Tim Cook asked employees to work remotely. The virus outbreak has sent tremors all across Wall Street. Trading on U.S. exchange closed for 15 minutes on Monday market opening.As the fears of coronavirus continue to aggravate further, markets continue to make new lows. Even giants like Apple Inc (NASDAQ: AAPL) and Microsoft Corporation (NASDAQ: MSFT) are feeling the heat of this pandemic. Today, both APPL and MSFT stocks...