Oil prices fall amid reported end to Norway strike
NEW YORK: Oil prices retreated on Friday after oil workers in Norway called off a strike that had threatened energy production in the country, China’s Xinhua news agency reported. The West Texas Intermediate (WTI) for November delivery lost 59 cents to settle at $40.60 dollars a barrel on the New York Mercantile Exchange, while Brent […]
Petronas expects a challenging year as Q1 profit falls
KUALA LUMPUR: Petroliam Nasional Bhd (Petronas), which yesterday reported a 68 per cent year-on-year decline in first-quarter (Q1) profit, sees a very challenging outlook for the rest of this year, with economic activities expected to only recover gradually in the second half of 2020. President and group chief executive officer Tan Sri Wan Zulkiflee Wan Ariffin said industry players, including […]
Oil prices depressed, remain below $40
KUALA LUMPUR: Market participants are doubtful that a historic one-year oil production cut pledged by major producers recently would solve the oversupply problem. For the week just ended, the West Texas Intermediate crude for May delivery lost 8.1 per cent to settle at $18.27 per barrel on the New York Mercantile Exchange. In contrast, the global benchmark, Brent […]
