OctaFX | OctaFX Forex Broker
Open trading account
Back

Saudi Aramco: Minimal impact on company after demand drop due to coronavirus spread

Amin Nasser, the CEO of Saudi Aramco, the state-owned oil company of the Kingdom of Saudi Arabia, argued that the impact of the falling global oil demand due to the coronavirus outbreak on the company would be "minimal."

"When we do our plans we take into consideration oversupply or shortage of supply, this is part of our flexibility," Nasser explained during a panel discussion at an industry conference in Riyadh, per Reuters.

Crude oil reaction

The barrel of West Texas Intermediate edged higher after these comments and was last seen trading at $51.65, adding 0.7% on a daily basis.

EUR/GBP faded the spike to 0.8400 on coronavirus, Brexit

The bid bias around the sterling is contrasting with the selling mood hitting its ex-European peer on Tuesday and is dragging EUR/GBP to the 0.8360 re
Read more Previous

USD/CAD remains confined in a range below 1.3300 mark

The USD/CAD pair seesawed between tepid gains/minor losses on Tuesday and was last seen trading with modest losses, below the 1.3300 mark. A combinati
Read more Next
Start livechat