The United States welcomed on Thursday reports that OPEC and its allies agreed in principal to reduce oil production by 10 million barrels per day (bpd), a senior Trump administration official said on Thursday.
OPEC and other major oil producers on Thursday said they would cut output by 10 million barrels per day for two months in the face of a huge fall in demand due to the coronavirus crisis.
Caterpillar Inc is in talks with banks for a fresh $3 billion nine-month revolving credit facility, a person familiar with the matter said on Thursday.
Cement and steel companies are being warned by investors over their lobbying on planned European Union carbon costs, saying they are effectively asking to be compensated twice over.
Volkswagen AG said Thursday it will furlough 1,500 workers at its U.S. assembly plant in Tennessee starting April 11 as the industry grapples with the ongoing coronavirus pandemic.
U.S. President Donald Trump said on Thursday he had a good conversation with Russian President Vladimir Putin and Saudi Arabia's King Salman and expected that OPEC and other countries would be announcing a deal soon.
U.S. President Donald Trump said on Thursday that airlines could receive details this weekend about the terms of a $32 billion payroll grant to offset the impact of the coronavirus outbreak, which sources told Reuters has received around 275 applicants.
Oil prices tumbled on Thursday on doubts that a deal between OPEC and allies to make a record oil supply cut would be enough to offset the collapse in global fuel demand caused by the coronavirus pandemic.
Delta Air Lines Inc Chief Executive Ed Bastian said on Thursday that nearly 35,000 workers had volunteered so far for voluntary unpaid leaves of absence the company is offering in an attempt to stem costs because of the coronavirus crisis.
OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.
In a meeting with OPEC and its allies, Mexico proposed reducing its oil output by 100,000 barrels per day (bpd) in the next two months, Energy Minister Rocio Nahle said on Thursday.
OPEC, Russia and other allies outlined plans on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to prop up prices hammered by the coronavirus crisis.
Boeing Co is considering a plan to cut its workforce by about 10%, which could involve buyouts, early retirements and involuntary layoffs, the Wall Street Journal reported on Thursday.
Saudi Arabia's King Salman, U.S. President Donald Trump and Russian President Vladimir Putin reviewed, in a phone call, the importance of cooperation between oil producing countries, after Thursday's OPEC+ meeting, Saudi state news agency SPA reported.
Exxon Mobil Corp used economic uncertainty tied to the coronavirus pandemic to urge workers at its lubricants and packaging plant in Paulsboro, New Jersey, to vote for a proposed contract, according to two sources familiar with the matter.