Due to the collapse in demand, storage tanks for oil are close to the brim at a key energy hub in Oklahoma, forcing traders to pay others to take delivery of the oil.
Demand for fossil fuels has plunged amid the widespread lockdowns and traders are finding it difficult to store the oil flooding the market.
“Well, I’ll look at it,” US President Donald Trump told reporters after he was asked about requests by some Republican lawmakers to block the shipments under his executive authority.
People are searching for ways to do a little self-grooming during the lockdown as barbers and hairdressers are closed in many countries.
Kirill Dmitriev, one of Russia's top oil negotiators who also heads the sovereign wealth fund, says a deal is imminent, a month after oil prices tumbled due to the coronavirus pandemic and a price war between Russia and Saudi Arabia.
The continent's economy could shrink up to 1.1 percent this year, trade could fall 35 percent from 2019 levels, and oil producers, tourist destinations will be hit hard, a study by African Union says.
The pipeline is operated by the Yemeni government-owned Safer oil company but no oil has been pumped through it for years.
Face masks of different types have been in demand ever since the coronavirus outbreak became a global pandemic.
The price of crude spurted as much as 30 percent higher after President Donald Trump said he expects Russia and Saudi Arabia to back away from their price war,.
As Hajj pilgrimage is under risk of cancellation for this year due to the coronavirus pandemic, people ask: is it the first lockdown in history?
Stocks increased after figures from China showed signs of economic recovery, but quickly dropped again after a record breaking amount of coronavirus-related deaths was announced in Spain.
Advocacy groups including Human Rights Watch (HRW) and Amnesty warn that cramped accommodation and inadequate sanitation endanger migrant workers across the Gulf, who may not have access to healthcare.
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