Focus: Oil and Aramco

Focus: Oil and Aramco

Motor manufacturing giant Toyota's net sales for the full year 2020/21 declined by 2 percent to 2.2 trillion yen.. Earnings before interest and taxes declined by 2.9 percent to 196 billion yen.. Worse is likely to come moving into the second quarter of 2020, because most major economies are in lockdown and only reopening gingerly.. The company's CEO Amin Nasser expects the COVID-19 pandemic's impact on demand and oil prices to weigh in on earnings going forward.. By cutting production by 1 million bpd as of June 1, Saudi Arabia took leadership in OPEC+ to do whatever it takes to start on the road toward rebalancing the markets.. BP CEO Bernard Looney told the FT that he was uncertain whether oil demand would go back to pre-pandemic levels or if demand had peaked.. As for Aramco earnings, while a 25 percent drop of net income might look big, it has to be viewed against the backdrop of a decline in oil prices by 65 percent during the same quarter.. Lebanese designers fight coronavirus with fashion face masks /node/1673611/fashion. Safety rules at supermarkets, pharmacies and shops require people to wear masks. Baroudi's business is one of several that have converted