Oil Industry Joins The Fight Against Coronavirus The coronavirus has forced businesses to change in order to not only survive the pandemic but to help fight it, and now the oil and gas industry is joining the global effort
Somehow they will agree to the agreement bcoz it's better for them to agree than go bankrupt ... So lets hold .. This price is so much cheap. If they agree. Per barrel wil shoot up to 50 per barrel
Moscow and Riyadh are ‘very, very close’ to an oil deal, says Russia’s sovereign wealth fund chief
The deal will bring “so much important stability to the market” and the two sides are “very close,” said Kirill Dmitriev, CEO of Russia’s sovereign wealth fund RDIF.
A virtual meeting between OPEC and its allies was scheduled to happen on Monday, but is now “likely” to take place on Thursday instead, sources told CNBC.
Dmitriev also said Russia is working closely with U.S. authorities to have American producers participate in the output cut.
Understandable oil is the most valuable assets for Opec countries or any major oil producers especially for US,definitely they will come to terms and consensus to protect their own interests primarily. The oil price will only go up from now onwards.
Regardless ...Due to Covid 19 Demand is at a historical low and will remain so until the world economy mends itself. World now in Economic Recession....Oil Demand low.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
AAAwell
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Posted by AAAwell > 2020-04-05 15:38 | Report Abuse
https://www.nytimes.com/2020/04/04/business/coronavirus-opec-russia-oil.html
Expect a big drop tmr