Oil giants' net loss surpasses $20 billion due to pandemic

Data showed that the world's top 12 listed oil firms posted a total net loss of $20.6 billion in the first quarter, compared with a profit of $23.4 billion in the same period last year, due to the COVID-19 pandemic, Anadolu Agency reports. The outbreak has brought global transportation to almost a complete halt and oil consumption around the world has decreased dramatically over the past several months.

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