Product of Saudi slashing its official selling prices (OSPs) for April crude sales to some of the lowest levels in decades, undercutting its rivals, and exactly the same happened again for May crude sales
impact of the COVID-19 pandemic on the U.S. economy and the implementation of various fiscal and monetary policy tools used in response to the crisis.
As the global economy is slowly moving towards reopening, almost no one believes that demand or prices will shoot up later this year.
Committee decided to maintain the target range for the federal funds rate at 0 to 1/4 percent.
There’s still some concern that the 10 million barrels per day cut won’t be enough to offset demand destruction so the outlook for oil prices remain subdued
OPEC+ alliance agrees to cut production by 9.7m barrels a day; rent rose about 3% to $32.50 a barrel.
Global oil benchmark Brent crude plunged to its cheapest level in almost 18 years on Monday and U.S. crude briefly tumbled below $20 a barrel
MSCI Asia Pacific Index lost 20% in 1Q, worst since 2008; Nations with pandemic stabilized better positioned
Committee decided to lower the target range for the federal funds rate to 0 to 1/4 percent.
Oil analysts are anticipating barrel prices as low as $20 within the year.