Moody’s cut the credit ratings of Chevron and Royal Dutch Shell by one notch, and cut the credit rating of French oil giant Total by two levels. Both Chevron and Shell were downgraded to Aa2 from Aa1. Moody’s cut Total’s rating from Aa1 to Aa3. Source: OilPrice
Europe’s largest economy stagnated in the fourth quarter as an inventory slump wiped out support from consumption and investment, and business sentiment suggests the weak phase will continue.
Confidence in the economy slid in February to the lowest level in four years after data confirmed Germany just barely avoided a recession. Growth components painted a more upbeat picture – hinting at a pickup in the coming months. Consumer spending, capital investment and public spending all rose in the quarter. Source The Irish Times
Saudi Crown Prince Mohammed bin Salman cemented a $10 billion (7.7 billion pounds) deal for a refining and petrochemical complex in China on Friday, meeting Chinese President Xi Jinping who urged joint efforts to counter extremism and terror. Source Reuters
Trump reiterated that he’s opposing the Nord Stream 2 gas pipeline.
“More gas supply routes to Europe wouldn’t have any negative effects for the United States,” Sebastian Kurz said. “Europe would buy more natural gas from the U.S. if the price was competitive.”
