Oil prices set to open lower due to Saudi-Russia row

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Global benchmark oil prices are expected to open lower on Monday as a dispute between top crude exporters Russia and Saudi Arabia raises concerns of another collapse in talks to curb production at a meeting this week.

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FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant

The sharp rebound from weeks of losses came after U.S. President Donald Trump said Moscow and Riyadh would negotiate to end a price war that slashed prices by more than half last month. Trump has, however, made no commitment to take the extraordinary step of persuading U.S. companies to cut output. On Friday, Brent crude futures LCOc1 rose 13.9%, or $4.17 a barrel, to settle at $34.11. U.S. West Texas Intermediate crude CLc1 rose $3.02, or 11.93% to settle at $28.34.

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Hope they choke on it.been ripping the world off for years.ya i feel bad screw them

Not aging well

The meeting has just been postponed, not canceled! If anything, I think it will give more time for people to get in before the decision is made.

Trump said there was an agreement!...let me update something....lie number 23,879 from the genius

But, but, Trump Tweeted the opposite. 🙃

Are they actually lower, or are you predicting lower pre-open Let’s see how this ages

Good

Wt?

Didn't Trump tell us he fixed this?

wuh oh theWhiteHouse realDonaldTrump KSAmofaEN and KremlinRussia_E will we see a single digit barrel? ACLU un

Hope Telangana govt reduces the taxes so tht we can also benefit woth the low cost. KTRTRS

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