The Sultanate is reeling from the double whammy of low oil prices and Covid-19. But with intra-GCC tensions high, a consensus on aid won’t come easily.
Ministers of the cartel and outside nations led by Russia meet via video conference to adopt the measure, aimed at cutting the excess production depressing prices as global aviation remains largely grounded due to the pandemic.
Iraq’s leadership has to deal with Covid-19, the Islamic Republic, the Daesh, and the United States.
An Iraqi official said the rocket had struck near the US Embassy in the Green Zone where government buildings and foreign embassies are located.
The financial heart of the UAE faces an uncertain future with the pandemic halting its trade, travel and tourism, pushing it to turn to big brother Abu Dhabi for help.
The two leaders exchanged pleasantries, however, many divisions remain as the global pandemic wreaks havoc in both countries.
Asian markets were mixed as hopes for global economic recovery rises with more countries easing anti-coronavirus controls.
The coronavirus has attacked Russia, another country with a powerful political clout, after China, the US and Western European countries, making its weaknesses apparent.
Prices rally as top producers say they would turn taps lower, while there were also hopes for a pick-up in demand as economies slowly reopen amid Covid-19 pandemic.
US West Texas Intermediate (WTI) crude CLc1 futures skidded by as much as 16 percent and were off 14.7 percent, or $1.88 cents, at $10.90 a barrel as of 0158 GMT. WTI plunged 25 percent on Monday.
European stock markets dropped as EU leaders are not able to agree on a stimulus for the bloc's economy, while shares in the rest of the world dropped after disappointing news surrounding a potential coronavirus treatment.
"We will respond decisively to any sabotage," Head of Iran's Revolutionary Guards Major General Hossein Salami warns, while oil prices soar amid Iran-US saber-rattling.
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