Oil

Oil prices slid after Saudi Arabia announced the state-owned Aramco would reduce production by an additional 1 million barrels per day.

Saudi oil giant Aramco may cut its dividend to the Saudi government, but is likely to maintain payouts to minority shareholders as a plunge in crude prices shrinks first-quarter profits, analysts said.

Continental Resources swung to a first-quart loss amid an unprecedented market environment.

Oil prices opened about 1% lower on Sunday as a persistent glut continued to weigh on prices and the coronavirus pandemic eroded global oil demand even as some governments began to ease lockdowns

The oil and gas industry is responsible for about 16 percent of state revenue and tied to 77,000 jobs with $4.8 billion in wages a year.

Drillers have cut an average of 55 rigs per week since mid March after crude prices started to plunge due to the coronavirus

Beijing's oil imports jumped 7.64% from March but remained below last year's levels.

The U.S. investment firm, which has more than $54 billion in private equity assets under management, has committed or invested some $13 billion into energy over the last decade.

Hess reported a quarterly loss Thursday after a coronavirus-induced drop in demand for oil and gas.

The company said it's consolidating all worldwide staff activities to its existing office in Houston

U.S. oil inventories rose by 4.6 million barrels in the week ended May 1, according to the Energy Information Administration, less than the 7.76 million-barrel build that analysts surveyed by Refinitiv were expecting.

The request from the Interstate Oil and Gas Compact Commission, a consortium of 31 states, comes as the coronavirus pandemic triggers a historic downturn in crude oil prices and fuel consumption.

Occidental Petroleum Corp on Tuesday reported that it swung to a loss in the first quarter on write-downs, and the troubled oil producer cut its budget for the third time since March in response to the historic crash of oil prices.