Business activity in the 19-nation eurozone suffered a record fall in March and hit an historic low, according to the PMI index published on Friday by analysts IHS Markit.

The IHS purchasing managers index for the month was 29.7 -- down from Markit's first estimate for March of 31.4 and well below the level in February of 51.6 points, before the coronavirus epidemic crippled the European economy.

Crude prices slipped Friday after the previous day's record surge as traders questioned Donald Trump's claims that Russia and Saudi Arabia were set to slash output, while Asian equities were mixed after another thunderous rise in US jobless claims caused by the virus crisis.

U.S. President Donald Trump said Thursday that after speaking to Saudi Arabia's leader he expects oil production to be slashed, defusing a Saudi-Russian price war that has heavily impacted the US energy industry.

France's finance minister urged European nations on Thursday to "go further and act stronger" to help each other's economies recover from the ravages of the coronavirus crisis.

Equity markets fell in Asia on Thursday, tracking a sharp drop on Wall Street as the deadly coronavirus sweeps the planet, with the infection rate fast approaching one million and forcing countries to tighten already strict lockdown measures aimed at containing the disease.

As crude prices plunge, Iraq's oil sector is facing a triple threat that has slashed revenues, risks denting production and may spell trouble for future exports.

Brazilian President Jair Bolsonaro posted a video online Wednesday of a market supposedly hit by shortages caused by coronavirus -- but removed it hours later after local journalists found the same market to be well-stocked.

Lebanon’s SGBL bank on Wednesday announced that it will postpone collecting the monthly payments for personal and business loans for the months of March, April and May 2020.

No penalties will be imposed and the delayed payments will entail a 0% interest rate, the bank said in a statement.

Oil fell in Asian trade Wednesday as a rally lost steam with Saudi Arabia flooding the market with crude and the escalating coronavirus pandemic sapping global demand.

US President Donald Trump said Tuesday he was ready to help resolve an escalating oil price war between Russia and Saudi Arabia that has helped push crude benchmarks to 17-year lows.

The threat of a global recession triggered by the coronavirus pandemic had already hammered prices when Riyadh said last month it would raise exports after a production-cut agreement among top producers flopped in early March.