Crude oil futures drop at open on grim demand outlook

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Crude oil futures drop at open

FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. REUTERS/Angus Mordant/File Photo

In early trading, Brent futures fell 7.1% to $23.15 a barrel as of 6:13 p.m. EDT , while U.S. crude futures lost 5.6%, or $1.17, to $20.34 a barrel. The coronavirus pandemic has already killed about 32,000 people and sickened more than 500,000 worldwide. On Sunday, Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, estimated the United States alone could suffer as many as 200,000 deaths.

Despite this, Saudi Arabia and Russia remain at loggerheads. Russian oil companies have said they expect the price war to continue, while the Saudis have not given any indication that there are new talks coming to curb supply.

 

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Wow

fireisfun1 sorry bro...

Who cares.. We have bigger fish to fry.

Chinese Virus 5G ChinaLiedPeopleDie ChineseVirus19 COVIDー19

Good

Good

haha! Suck it rich people!

Brent at $23! If this continues the North Sea oil industry will be finished. 😢

Hope it goes to $0. Less Russians and OPEC crap.

If the fracking companies have not been bankrupted before they are now.

'Not the Oil!'

Crude going to $10.

F the Saudis

God sent Corona to see human their littleness. O human Be a mouse And limit yourself in your modern cage.

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