Reuters

G20 energy ministers in their joint statement will propose setting up a task force to advise ministers on the steps needed to stabilise the oil markets amid the coronavirus pandemic, India's oil ministry said in a statement on Friday.

U.S. Energy Secretary Dan Brouillette on Friday described a dire situation in global energy markets, saying that the coronavirus pandemic and massive oil surplus have created a lethal combination.

Top oil nations were finalising a deal at G20 talks on Friday for big output cuts to lift prices slammed by the coronavirus crisis with Russia and Saudi Arabia taking a lion's share and signs the United States might take unprecedented moves to help.

Airbus has shelved plans to create a new assembly line in Toulouse, France, for its A321 airliner as the company wrestles with the coronavirus crisis.

The United States agreed on Thursday to make 250,000 barrels per day in additional cuts to oil output to help Mexico contribute to global reductions, Mexican President Andres Manuel Lopez Obrador said on Friday.

Major airlines are seeking operating subsidies for key routes once coronavirus restrictions are lifted, a leaked lobbying document shows, stoking tensions with some low-cost carriers that are less likely to benefit from the additional funds.

EU finance ministers gave themselves a round of applause as they wrapped up talks on Thursday night with agreement on a package of measures worth half a trillion euros to cushion the blow of the coronavirus pandemic.

Turkey has held talks with the United States about possibly securing a swap line from the U.S. Federal Reserve and has discussed other funding options to mitigate fallout from the coronavirus outbreak, Turkish officials said on Friday.

U.S. consumer prices fell by the most in more than five years in March and further decreases are likely as the novel coronavirus outbreak suppresses demand for some goods and services, offsetting price increases related to shortages resulting from disruptions to the supply chain.

U.S. consumer prices fell by the most in more than five years in March and further decreases are likely as the novel coronavirus outbreak suppresses demand for some goods and services, offsetting price increases related to shortages resulting from disruptions to the supply chain.

The chief executives of Italy's top two energy groups Eni and Enel are on course to secure third terms next week when Rome decides on roles at key state-controlled companies, a senior government official said.

Major airlines are seeking operating subsidies for key routes once coronavirus restrictions are lifted, a leaked lobbying document shows, stoking tensions with some low-cost carriers that are less likely to benefit from the additional funds.

Turkey has held talks with the United States about possibly securing a swap line from the Federal Reserve and has discussed other funding options to mitigate fallout from the coronavirus outbreak, Turkish officials said on Friday.

Russian Energy Minister Alexander Novak called on the G20 group of the world's largest economies on Friday to join the efforts of the group of leading oil producers, known as the OPEC+, to stabilize energy markets.

The Kremlin said on Friday that "work" to persuade Mexico to join efforts to curb oil production was under way a day after marathon talks among producers produced a deal on cutting out conditional on Mexico's participation.

U.S. President Donald Trump said on Friday that American airlines must be saved, as his administration prepares to give them details this weekend about the terms of a $32 billion payroll grant to offset the impact of the coronavirus outbreak.

The Saudi energy minister told a conference of the G20 group of the world's largest economies on Friday that ensuring affordable energy supply is key to facilitating a global economic recovery.

Russian President Vladimir Putin said on Friday he was planning to hold new talks on oil prices after phone calls with U.S. President Donald Trump and the leadership of Saudi Arabia, TASS news agency reported.

U.S. President Donald Trump said on Thursday he has directed his agriculture secretary to expedite help to farmers, especially small farmers, hurt by the economic disruption caused by the new coronavirus outbreak.

Airbus has shelved plans to create a new assembly line in Toulouse, France, for its A321 airliner as the company wrestles with the coronavirus crisis.