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
Qatar and Turkey’s central banks have signed a currency swap agreement to provide liquidity and support for financial stability, Qatar’s central bank said on Sunday, days after Turkey’s Gulf ally pledged $15 billion in support. Source: Reuters
Iran told OPEC on Sunday no member country should be allowed to take over another member’s share of oil exports, expressing Tehran’s concern about Saudi Arabia’s offer to pump more oil in the face of U.S. sanctions on Iranian oil sales. Source: Reuters
China’s banking regulator has ordered banks to boost lending to infrastructure projects and exporters as the government seeks to bolster economic confidence on the eve of a new round of trade negotiations with the US. Source: Financial Times
