Stock markets in the oil-rich Gulf states plunged on Sunday over fears of the impact of the coronavirus, which also battered global bourses last week. All of the seven exchanges in the Gulf Cooperation Council (GCC), which were closed Friday and Saturday for the Muslim weekend, were hit as...

Saudi Arabia, the biggest producer in OPEC, and some other members are considering agreeing an output cut of 1 million barrels per day (bpd) for the second quarter of 2020, more than an initially proposed cut of 600,000 bpd, the sources said. The Financial Times newspaper was first to...

Asian stock markets plunged further Friday on spreading virus fears, deepening a global rout after Wall Street endured its biggest one-day drop in nine years. The Tokyo and Shanghai benchmarks sank by an unusually wide margin of 3.7%. Seoul and Sydney dropped by more than 3% and Hong Kong...

Saudi Aramco is launching the biggest shale gas development outside of the United States to boost domestic gas supply and end the burning of oil at its power generation plants, Chief Executive Officer Amin Nasser told Reuters Monday. The world's top crude oil exporter has for years battled...