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Tag Archives: opec

Aramco Stock Plunges Below its IPO Price Level Amid OPEC-Russia Soar Deal

Aramco shares fell below its IPO price level for the first time on Sunday. Other Saudi stock markets like Tadawul, Abu Dhabi Index, also fell caused by the OPEC-Russia deal gone sour on Friday.Shares of the Saudi Arabian Oil Company, Aramco, fell below its initial public offering (IPO) on Sunday. During the IPO listing back in December, the shares were sold at 32 riyals, whereby on Sunday by 12:30 p.m they were trading at 30.90 riyals ($8.24). This reciprocated to a 6.36% fall, a negative...

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OPEC Deal Failed: Oil Prices Crash Over 30% as Saudi Arabia and Russia Trigger Oil War

Brent crude has plunged nearly 31%, dropping to $31.02 per barrel with the year-to-date crude price dropping by 50%. The U.S. benchmark commodity is witnessing its worst day in almost the last three decades since January 17, 1991.Last Friday, the OPEC and non-OPEC allies failed to reach a consensus on cutting down oil production to control oil price. Well, the tremors of these decisions are clearly visible in the global oil market.In the early trading session on Monday, oil prices crashed 30%...

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OPEC+ Fails to Reach Consensus on Cutting Oil Production, Crude Prices Fall to 2017 Lows

As crude prices went tumbling down, OPEC and non-OPEC members met on Friday for discussing the cutdown on oil production to control the price. However, the two groups failed to reach a consensus with Russia backing off.The rising concerns with the coronavirus spread have put the global economy in doldrums at this stage. On Friday, the OPEC and non-OPEC allies met for discussing the cutdown on oil production amidst slowing demand.Just like the stock markets, the global crude market has faced...

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Markets Finished Week in Red amid Coronavirus Epidemic

European stocks fell sharply on Friday. On Wall Street, equities sank as well with the Dow Jones industrial average falling by 250 points. The coronavirus is spreading.Even though coronavirus came from Wuhan, Hubei – a China province, it seems that the country finally made its way on reducing the number of infected people. China’s National Health Commission (NHC) reported a significantly reduced number of COVID-19 cases with 99 new confirmed in the past twenty-four hours. This is, however,...

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