Oil prices fell sharply Monday morning, as the outbreak continues to crush global demand for crude.
Analysts at Goldman Sachs said they believe the economic impact of the coronavirus outbreak will be "extremely negative" for oil prices, given it is "impossible to shut down a vast amount of demand without large and persistent ramifications to supply." Saudi Arabia's Minister of Energy Prince Abdulaziz bin Salman Al-Saud and Russian Energy Minister Alexander Novak at the start of an OPEC and NON-OPEC meeting in Vienna, Austria, December 6, 2019.Earlier this month, oil producer group OPEC and its allied partners, sometimes referred to as OPEC+, failed to agree on extending production cuts beyond March 31.
This is a WAG. Until alternate sources oF energy are competitive carbon based energy will not change. Especially true as nations try to recover financially.and get back to work.
Goldman brought us junk mortgage backed bonds...leading to the world financial collapse in 2008. Kenneth Feinberg has watched on as the tax deducible repayments have been made....Goldman now see themselves as once again financial Gods. Grotesque.
wow
Like Forest Gump When people are afraid, Buy cheaper stocks. Australia stocks + 7%up United States is strong Will resurrect as soon as the infection is over
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