Reuters Dow Inc chief executive officer said on Thursday it would probably take a couple of years for the chemical maker’s volumes and margins to rebound to pre-coronavirus levels, and laid out additional cost-cutting plans to cope with its fallout. The company posted its first quarterly loss since its separation from the erstwhile DowDuPont conglomerate and forecast third-quarter sales below
CNBC Oil and gas majors are likely to report “horrendous” second-quarter results over the next two weeks, energy analysts have told CNBC, with the three-month period through to the end of June widely expected to mark the “low point” of 2020. “Big Oil” companies, referring to the world’s largest oil and gas majors, witnessed a historic fall in oil and
Reuters LONDON/NEW YORK – Surges in coronavirus infections are slowing a recovery in fuel use from the doldrums of lockdowns in the United States and other countries, raising concern it could be years before consumption rebounds from the impact of the pandemic. Global fuel demand fell by around a quarter at the peak of the lockdowns, when over 4 billion
Reuters LONDON – A month after U.S. crude oil prices collapsed into negative territory, European gas markets are facing the prospect of also slipping into the red after a slump in demand and surging inventories pushed prices into low single digits. Dutch and British gas prices have plunged due to weak demand amid coronavirus lockdowns and strong renewables output, compounding
