Bloomberg The euro area is preparing to make available credit lines from its bailout fund worth up to 2% of each country’s output, as the region’s finance ministers seek to lay out the next phase of their fiscal response to the coronavirus outbreak. The tentative progress comes as an array of forecasts and sentiment indicators have pointed to a severe …

Bloomberg As the US finds itself in the unfamiliar position of lobbying for higher oil prices, China’s enjoying what amounts to a major rebate from crude’s crash just as it tries to recover from the coronavirus. The world’s biggest oil importer is saving about $250 million a day after crude prices crashed this year amid dual demand and supply shocks. …

Bloomberg Record low prices for heavy Canadian crude have prompted one of the biggest operators in the oil sands to take the rare step of shutting production. Motivated by the “extremely low” prices, Suncor Energy Inc. announced on March 24 that it will shut in one of its two so-called trains at its two-year-old, 194,000 barrel a day Fort Hills …