Morgan Stanley, a multinational investment bank and financial services company, raised its year-end Brent price forecast to $40 per barrel, citing a faster-than-expected balance in global oil demand and supply as countries ease coronavirus restrictions and major producers cut supply.
Morgan Stanley sees tighter oil market, raises Brent forecast
The French government has announced an €8 billion (£7.1 billion) rescue plan for its car industry, which has been severely impacted by the coronavirus pandemic.
France announces €8b rescue plan for car industry
Economic prospects for the developed world this year have darkened again in the past month as the coronavirus pandemic has rolled from Asia to the Americas, with a V-shaped sharp recovery expected by less than one-fifth of economists polled by Reuters.
World economic prospects darken, rebound delayed: Poll
Investment in global energy will fall by $400 billion (£324 billion) this year, the biggest slump in the industry’s history, as the COVID-19 pandemic fuels a collapse in energy demand.
Investment in global energy to drop by $400b
Iran plans to stop exporting gas condensates; instead, it will produce gasoline and naphtha, said Oil Minister Bijan Namdar Zanganeh.
Iran to halt condensate exports to produce more gasoline, petchem feedstocks at home
Domestic Economy Desk Iran’s annual copper cathode production is planned to hit 250,000 tons by March 20, 2021.
Iran’s annual copper cathode production to hit 250,000 tons
The trade of Iran with its top trading partner, China, has gone over $5 billion in the starting four months of 2020.
Tehran-Beijing trade tops $5b in four months
An Iranian official said all border crossings with Afghanistan have reopened and their trade exchanges have returned to normal after a hiatus in the wake of the coronavirus outbreak.
Iran-Afghanistan trade back to normal: Official
In a congratulatory message to Georgia on its National Day, Iran’s First Vice President Es’haq Jahangiri expressed hope for the development of economic and trade ties between Tehran and Tbilisi.
Jahangiri backs closer trade ties with Georgia
A US ban on new offshore drilling in the Gulf of Mexico, which presidential hopeful Joe Biden promised to enact if elected, would lead to hundreds of thousands of job losses and billions in lost government revenue over 20 years, an offshore drilling industry group said on Tuesday.
US drilling industry says offshore ban would crush jobs, government revenues

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