Exxon Cuts Spending by 30% Amid Demand Crash

Joseph B. Hash

ExxonMobil claimed Tuesday it will slash money shelling out this 12 months by thirty% — the greatest slash any oil significant has built in response to the coronavirus-pushed crash in need.

Additional than 50 oil and gasoline firms so considerably have declared programs to decrease shelling out by far more than $37 billion, with majors’ BP, Chevron, Royal Dutch Shell, and Saudi Aramco earning twenty% to 25% reductions.

Exxon’s strategy phone calls for a 2020 money budget of $23 billion, down thirty% from the $33 billion it experienced formerly envisioned. The largest slash will come in the greatest U.S. oil

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Afghan Peace Process Hits Roadblock as Taliban Break Off Talks

Joseph B. Hash

WASHINGTON—The Taliban broke off talks with the Afghan govt in Kabul on Tuesday, building a fresh new stumbling block for the peace process only months after Secretary of State Mike Pompeo’s diplomatic rescue mission to Afghanistan.

The talks among the Afghan and Taliban negotiators aimed to finalize the conditions of a prisoner swap, which is a vital stage for a official peace process to start under the conditions of the U.S. deal with the Taliban.

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U.S. to Block Iran’s Request to IMF for $5 Billion Loan to Fight Coronavirus

Joseph B. Hash

The U.S. plans to block Iran’s asked for $5 billion emergency bank loan from the Global Financial Fund for funding Tehran states it requirements to struggle its coronavirus crisis.

Senior officers in the Trump administration explained Iran’s govt has billion-dollar accounts still at its disposal. If authorized to tap IMF funding, the officers explained, Tehran would then be able to divert these or other funds to help its overall economy, which has been weakened by U.S. sanctions, or finance militants in the Center East, rather than on that contains…

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Global Coronavirus Death Toll Passes 81,000 as Some Lockdowns Tighten

Joseph B. Hash

The U.S. loss of life toll from the new coronavirus rose sharply, with approximately fifty% additional people today killed Tuesday than any past working day in the epidemic, in accordance to a Wall Street Journal assessment of data from Johns Hopkins College.

Among 8 p.m. Monday and the exact time Tuesday, one,939 people today in the U.S. died from Covid-19, the respiratory disease triggered by the virus. The past file was established Saturday, when one,320 died.

Contributing…

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