Here's what you need to know before the markets open.Shell slashed its dividend for the first time since the Second World War on Thursday, cutting shareholder payments by 67% as coronavirus torpedoes demand for commodities and shatters the oil-producing industry. Oil prices are bouncing despite warnings that global energy demand in 2020 is set to slump 7 times more than during the financial crisis.
Oil prices are rising once again on Thursday, shrugging off comments by the International Energy Agency that energy demand is set to fall the most on record this year amid coronavirus, as lower than expected demand for storage boosted prices for the commodity. The eurozone economy declined at the fastest rate on record, shrinking by 3.8%, according to the preliminary estimates from Eurostat on Thursday.
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