Oil prices dropped during overnight trading on Sunday after OPEC+ announced it was delaying its meeting initially scheduled for Monday, stoking fears on the Street that a production cut might face hurdles.
The first three months of 2020 have shocked the global energy market to its foundations. The toxic mix of coronavirus, a global economic recession, and an unexpected OPEC+ price spat have hit ever aspect of the energy industry.
Malaysian authorities have ordered the reopening of the Padang Besar checkpoint in Songkhla next week to allow the import of concentrated latex for the country's production of rubber gloves.
The Thai economy would shrink by 5% this year in the World Bank's worst-case scenario, with the coronavirus outbreak compounding existing problems like drought, stagnant wage growth, rising unemployment and growing poverty.
Stocks in Asia were little changed in Friday morning trade following a record surge in oil prices overnight that saw U.S. crude futures soaring more than 24%.
KUALA LUMPUR (April 3): Bank Negara Malaysia (BNM) said today Malaysia's economic growth, as measured by Gross Domestic Product (GDP), is projected at between -2% to 0.5% in 2020 against a highly challenging global economic outlook due mainly to the COVID-19 pandemic.