In the wake of the coronavirus pandemic, global demand for oil has plummeted and prices have cratered; even Saudi Arabia’s state-owned oil giant—the world’s largest and most profitable public company—isn’t immune to damage.... [+]In the first quarter, Aramco pulled in $16.7 billion in profit, down from $22.2 billion in the same period last year and well below analysts’ expectations of about $18 billion.
The conflict escalated quickly, with prices plummeting by more than 30% at one point, to lows not seen since the Gulf War in the 1990s.
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Oil gains after Saudi Arabia says it will cut production further to boost prices - Business InsiderThe kingdom's second round of oil production cuts comes after the historic deal with OPEC and its allies in April. u need a true man that will love me and I will give him all that I have No, the world does not need higher oil prices in the midst of global pandemic. The oil industry does. The way forward - RenewableEnergy greenenergy DivestFromWar
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