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That welcome just gone 3 oclock in the afternoon here in moscow you will see international now World Oil Stocks are taking a heavy hit following the true producing countries to agree to production cuts as demand for oil falls saudi arabia has now said it will increase output so thats done a lot to the price of oil today its damaged it significantly dont courses here to talk more just tell us about the latest state of the markets well andy the markets are going way down since mondays opening asias markets have seriously plunged to european and american futures are in freefall and oil prices have seen their sharpest drop since the 1st gulf war in 1901 so its not exactly a good situation sure and its all been sort of painted on an argument between saudi arabia and russia just expand on that yeah exactly basically it started with i mean a price wars. The raging right now between saudi arabia and russia started over the weekend when ....
A little bit and all going through it is when they believe they were alive. Hello there you watching r. T. International where its just gone 4 oclock in the afternoon here in moscow now World Oil Stocks are taking a major hit today following the failure of crude producing countries to agree to production cuts as demand for oil falls amid fears about the coronavirus saudi arabia has now said it will increase and lets discuss this a bit further than i would on quarter hes following the story for us dont just run through then the latest developments brings up to speed on whats been happening today well indeed the markets have been taking a big dive since mondays opening asias markets have been taking a plunge european and american futures are in freefall and oil prices have actually seen their biggest drop since the 1st gulf war in 1901 so not good news not good news. Just line then i would say so will happen because its been a seq ....
Am calling for the end of life all go into israel and the relief to their lives. Good evening just gone 6 here in moscow youre watching r. T. International our top story this hour World Oil Stocks are taking a major hit today following the failure of crude producing countries through agree to production cuts as demand for oil falls a myth is about the coronavirus saudi arabia says it will increase output after a dispute with russia on quarter as more details since mondays opening Global Markets have taken a huge plunge the price of oil has seen its biggest drop since the 1st gulf war in 1901 and wall street futures are really in freefall right now i mean the trading of them had to be closed early today this was the 1st time this has happened since 2016 it all started last week last friday when opec held a meeting with the. Russia to discuss an agreement about potentially lo ....
Limit our fossil fuel consumption and so we cant just talk about banning fracking without talking about specifics on alternatives to liquid transportation fuels and alternatives to natural gas in the power sector obama did call it a bridge fuel in terms of getting us off coal but it seems to be much more of a geo political issue we see with the fracking and the doubling of production its really hailed across bipartisan issues as like where the Number One Oil producer in the world so once it jumps to that level it becomes way more difficult to get off it what do you think about this the Obama Administration could take this is a when i think weve seen the world flip flop from 2008 to today weve basically seen the us go from importing 50000000 barrels a day of oil to down to less than 2000000 barrels a day at the same time china is now importing. Almost 10000000000 barrels ....
Either thanks for joining us this is r. T. International. World oil stocks are taking a heavy hits following the failure of crude producing countries to agree production cuts demand for oil. Says that it will increase its output dont call it is following the story joins me here in the studio a shock for a lot of people i think this how exactly does this come about yeah absolutely neal while the markets are just going way down since mondays opening asias markets have been taking a plunge european and american futures have been in freefall and oil prices have seen their biggest fall since the 1st gulf war in 1901 that was a long time ago. Ok how have we got to this position does it mean were talking about big changes in Global Markets in a lot of areas but but its pretty big in particular new oil yeah absolutely it started with saudi arabia actually its attempts to drastically push down the price of oil to between 6. 00 to 8. 00 a b ....