A major hit following the failure of crude producing countries to greet production cuts as a man for oil falls amid fears about the coronavirus saudi arabia says it will increase output after a dispute with russia for more that heres our teeth. But quite a somber atmosphere here on wall street they are already calling it black monday we saw a 15 minute free futures trading when the stock market opened big dramatic plunge on the stock market the biggest drop weve seen since the 2008 financial crisis and on top of all of that weve got an Oil Price Drop 30 percent decline in the price of oil a plunge in the price of oil the biggest drop weve ever seen in oil cents in 1901 and at this point it being traced back essentially to the negotiations with opec saudi arabia has come forward and called for a decrease in Oil Production juju limited demand or. The coronavirus well russia has come forward and said that this call for a reduction in Oil Production and a cap on Oil Production doesnt reall
Bringing you the latest news every hour of the day this is out International Thanks for joining us. Well lets start with how the u. S. Is boosting its defensive capabilities in iraq the head of u. S. Central command said this was in response to the threat posed to american troops by neighboring iran. We are also in the process of bringing air Defense Systems Ballistic Missile Defense Systems into iraq in particular to protect ourselves against about another potential iranian attack well just when many thought that tensions between the United States and the Islamic Republic of iran were starting to cool we have the u. S. Central command telling us the opposite take a listen this is no easy task iran is persistent and is growing its arsenal Ballistic Missiles despite International Condemnation around remains the Worlds Largest state sponsor of terrorism now its important to note that the Iraqi Parliament has voted to end the presence of all foreign troops in the country however the usa m
International. Prices suffered the biggest collapse in 30 years before rebounding slightly as saudi arabia stepped up its price for. Oil prices plunged up to 30 percent on whats been dubbed black monday the biggest single day since the 1st iraq war sparked by a spat between top suppliers riyadh and moscow who couldnt agree a deal on production opec proposed output cuts in response to forming demands due to coronavirus concerns moscow disagreed noting that that would simply give an unfair advantage to u. S. Crude produces insists it wont give up its benefits. The Russian Oil Industry has a high quality Resource Base and a sufficient margin of financial strength to remain competitive out any predicted price level as well as maintain its market share for russias interests this deal is simply illogical we giving up our own markets remove cheap arab and russian oil to make way for expensive american shell and make it worthwhile for them as the Mainstream Media have called russias refusal re
For good morning to you thanks for joining us here on r. T. International. Wall street has suffered its 1st automatic halt in trading in more than 2 decades after stocks fell nearly 8 percent shares were spooked by the biggest collapse in the old price since the ninetys before rebounding slightly saudi arabia stepped up its price war. Google or more market share crazy right here in your money pretty much a chart of the Oil Price Crash exacerbating some of the fears so then a real rout on the stock markets not seen since the height of the financial crash more than 10 years ago the markets slumping heavily. Or prices plunged to 30 percent on what has been dubbed black monday in the biggest single day full since the 1st iraq war it was sparked by a spat between top crude suppliers rhythm moscow who couldnt agree a deal on production. So the arabia says that it will slash prices to grab market share from russia after opec proposed output cuts in response to fall in demand due to coronaviru
And joining us this morning this is r. T. Internet. Prices have suffered the biggest collapse in 30 years before rebounding slightly as saudi arabia stepped up its price war or prices plunged up to 30 percent on what has been dubbed black monday thats the biggest single day for since the 1st iraq war is sparked by a spat between top suppliers riyadh and moscow who couldnt agree on a deal on production opec proposed output cuts in response to falling demand due to coronavirus concerns but moscow disagreed noting that that would simply give an unfair advantage to u. S. Crude producers russia insists that it wont give up its all firms benefits. The Russian Oil Industry has a high quality Resource Base and a sufficient margin of financial strength to remain competitive fight any predicted price level as well as maintain its market share for russias interests this deal is simply illogical we giving up our own markets remove cheap arab and russian oil to make way for expensive american shell