Saudi Aramco reports a 20.6% drop in 2019 net profit because lower crude prices.
US light sweet crude settled at $50.42 a barrel, down nearly 23 percent since October.
China will use oil tankers from Iran for its purchases of that country’s crude.
Chinese oil importers are shying away from buying US crude.
PM to unveil a new policy to deal with the impact of more expensive crude.
Oil prices edged up yesterday, lifted in part by a strong demand outlook for the coming weeks.