TOKYO - Oil prices gained on Tuesday as hopes rose that the world’s biggest producers of crude will agree to cut output as the coronavirus pandemic crushes demand, even as analysts warn a global recession may be deeper than expected.
The world’s main oil producers including Saudi Arabia and Russia are likely to agree to cut output at a meeting on Thursday, although that would depend on the United States doing its share, sources told Reuters. Worldwide oil demand has dropped by as much as 30%, or about 30 million barrels per day, coinciding with moves by Saudi Arabia and Russia to flood markets with extra supply after an agreement on withholding output fell apart.
“I think it’s happening automatically but nobody’s asked me that question yet so we’ll see what happens,” the president told a press briefing on Monday afternoon.
How do you supply something that's not in demand.?
von Öl-Krieg zu Maskenkrieg
I read that trump called MBS and Russia as far as the output of oil to increase the values. Isn't that somehow against the law of manipulation of a market.
Tough
Oil has RISEN?
Greed knows no bounds
keep your family immune system strong.--
Hopes Fears Panic Profit Losses Investments Interests Rumours Only these define the stocks and markets Whatever happened to people Well-being Welfare Care Empathy Nature Consciousness
OIL Secular Perspective Major Key...
Good luck with that.
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Ratcheting up the tension, Saudi Arabia admonishes Russia over oil price collapseSaudi Arabia has sharply criticized Russia over what it describes as Moscow blaming the kingdom for the collapse in global energy prices. Aw, duplicitous powers calling out duplicitous powers. How quaint. все пучком)
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