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Production cuts buoy oil even as glut looms over market

Bloomberg Oil edged lower for the week after paring losses following the dramatic collapse that saw prices in New York plunge below zero for the first time in history. West Texas Intermediate for June delivery rose 2.7%, closing the curtain on a tumultuous week of wild price swings. US operators have started to shut old wells and halt new drilling, ...

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UAE ministry reduces work hours for private sector

DUBAI / WAM The Ministry of Human Resources and Emiratisation has issued a ministerial circular reducing the working day by two hours for all employees working in the private sector in the country during the Holy Month of Ramadan 1441 Hijri, Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, issued the circular in implementation to the Federal ...

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China deflected blame for pandemic, says EU

Bloomberg The European Union’s (EU) foreign and diplomatic wing said there’s evidence of a “coordinated push” by official Chinese sources to deflect blame for the coronavirus pandemic and promote its response to the virus. Official Chinese sources have been “publicising announcements and deliveries of bilateral assistance, with polls in certain countries showing China being perceived as more helpful in fighting ...

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