Oil Prices Have Plunged 30% In Early Trading - Hallo friend USA IN NEWS, In the article you read this time with the title Oil Prices Have Plunged 30% In Early Trading, we have prepared well for this article you read and download the information therein. hopefully fill posts Article HOT, we write this you can understand. Well, happy reading.

Title : Oil Prices Have Plunged 30% In Early Trading
link : Oil Prices Have Plunged 30% In Early Trading

Oil Prices Have Plunged 30% In Early Trading

An employee rides a bicycle next to oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov, Reuters

CNBC: Oil plummets 30% as OPEC deal failure sparks price war

Oil prices plunged 30% in early trading after OPEC’s failure to strike a deal with its allies regarding production cuts caused Saudi Arabia to slash its prices as it reportedly gets set to ramp up production, leading to fears of an all-out price war.

International benchmark Brent crude futures plummeted 30% to $31.02 per barrel, its lowest level since Feb. 2016. U.S. West Texas Intermediate crude dropped 27% to $30 per barrel, also its lowest level since Feb. 2016.

“This has turned into a scorched Earth approach by Saudi Arabia, in particular, to deal with the problem of chronic overproduction,” Again Capital’s John Kilduff said. “The Saudis are the lowest cost producer by far. There is a reckoning ahead for all other producers, especially those companies operating in the U.S shale patch.”

Read more ....

WNU Editor: It looks like it is going to a messy day on the markets tomorrow .... Dow futures tumble more than 1,000 points as all-out oil price war adds to coronavirus stress; 10-year Treasury yield drops below 0.5% (CNBC).

Thus articles Oil Prices Have Plunged 30% In Early Trading

that is all articles Oil Prices Have Plunged 30% In Early Trading This time, hopefully can provide benefits to all of you. Okay, see you in another article posting.

You now read the article Oil Prices Have Plunged 30% In Early Trading with the link address https://usainnew.blogspot.com/2020/03/oil-prices-have-plunged-30-in-early.html