Oil Drops With Virus Risks in Europe Dimming the Demand Outlook
Bloomberg 48 mins ago Andres Guerra Luz
(Bloomberg) Oil accelerated its decline after Britain warned it may continue limiting foreign travel, dampening hopes for a summer travel boom.
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Futures in New York fell as much as 5.9% on Monday, sending prices markedly below their 50-day moving average. The U.K. may delay global travel beyond May 17 if coronavirus infections continue to surge elsewhere around the world, adding further pressure on the immediate trajectory for consumption as governments struggle to control the spread of Covid-19.
Meanwhile, Iran, the U.S. and the remaining members in the 2015 nuclear deal are set to gather in Vienna on Tuesday to discuss potentially resurrecting the agreement, presenting a possible path toward removing sanctions on the Middle Eastern country’s oil exports. Yet, Iran indicated talks won’t succeed without the U.S. fully removing sanctio
Read more about Oil falls before Iran nuclear deal talks while coronavirus risks weigh on Business Standard. Futures in New York fell as much as 3 per cent on Monday
Oil falls before Iran nuclear deal talks while virus risks weigh bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
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(Bloomberg) Oil rose after the OPEC+ alliance agreed to increase oil production gradually over the next three months.
(Bloomberg) Oil rose after the OPEC+ alliance agreed to increase oil production gradually over the next three months.
Futures advanced in New York after choppy trading as details of the deal were revealed. The agreement between the Organization of Petroleum Exporting Countries and its allies to increase production from May to July includes a phasing out of Saudi Arabiaâs unilateral 1-million barrel-a-day supply cut, according to delegates.
The current plan for the group is to boost output by 350,000 barrels a day in May and again for June, before an increase by 440,000 barrels a day in July.
Oil Rises After OPEC+ Agrees to Boost Output Gradually
Bloomberg 1 hr ago Alex Longley and Andres Guerra Luz
(Bloomberg) Oil rose after the OPEC+ alliance agreed to increase oil production gradually over the next three months.
Futures advanced in New York after choppy trading as details of the deal were revealed. The agreement between the Organization of Petroleum Exporting Countries and its allies to increase production from May to July includes a phasing out of Saudi Arabia’s unilateral 1-million barrel-a-day supply cut, according to delegates.
The current plan for the group is to boost output by 350,000 barrels a day in May and again for June, before an increase by 440,000 barrels a day in July.