Renaissance Capital updated a note giving a readout on a call with Rosneft to remove a line saying the Russian energy giant believed a cut in oil output by OPEC+ of 10 million barrels per day (bpd) would be sufficient to balance markets.
OPEC and other oil producers will debate on Thursday oil cuts as big as 20 million barrels per day, equivalent to about 20% of global supplies, one OPEC source and a Russian source told Reuters.
The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy back going again when the time is right, a senior administration official said on Thursday.
The dollar dropped broadly on Thursday after the Federal Reserve rolled out a $2.3 trillion effort to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact as the country battles the coronavirus pandemic.
Faced with layoffs, furloughs or cuts in pay, many Americans have been forced to find ways to still pay their bills.
U.S. Treasury Secretary Steven Mnuchin said on Thursday that aid for airlines will be the "next big thing" to be rolled out after the Federal Reserve announced new lending backstops for smaller and midsize companies and municipal bonds.
"This is what is needed because we've got to fight off a depression," CNBC's Jim Cramer said.
British department store group Debenhams went into administration for the second time in 12 months on Thursday, seeking to protect itself from legal action by creditors during the coronavirus crisis that could have pushed it into liquidation.
Global equity benchmarks gained on Thursday following signs that governments and central banks are taking additional steps to bolster their economies as measures to slow the spread of the COVID-19 pandemic appear to be working.
OPEC and other major oil producers were due to discuss on Thursday big output cuts in the face of a huge fall in demand due to the coronavirus crisis.
The International Monetary Fund remains engaged with all members, including Turkey, as they respond to the new coronavirus pandemic sweeping the globe, IMF Managing Director Kristalian Georgieva said on Thursday.
Morgan Stanley's Chief Executive Officer James Gorman said he has fully recovered from the illness caused by the novel coronavirus, according to a video that was sent to the bank's employees on Thursday.
Wall Street jumped at the open on Thursday, after the Federal Reserve rolled out a $2.3 trillion program to bolster local governments and businesses, while the initial jobless claims slipped to 6.6 million last week from an upwardly revised 6.87 million the prior week.
Will be it a U? A V? Maybe a W? Predictions for economic recovery after coronavirus-linked lockdowns are throwing up a medley of letters to indicate whether we can expect a bounceback, a slow-burn recovery or relapse.
The number of Americans seeking unemployment benefits in the last three weeks has blown past 15 million, with weekly new claims topping 6 million for the second straight time last week amid tough measures to control the novel coronavirus outbreak that have abruptly ground the country to halt.