India-UK FTA: Crude traders have shrugged off the Nov. 30 pledge from Saudi Arabia and its allies to slash supplies by a further 900,000 barrels a day, remaining skeptical of its implementation. Despite the group’s multiple attempts to shore up sentiment in the past week, prices have crashed 11% to a five-month low.
RIYADH (BLOOMBERG) – The OPEC+ coalition’s grip on global oil markets is looking less secure by the day. Crude traders have shrugged off the November 30 pledge from Saudi Arabia and its allies to slash supplies by a further 900,000 barrels a day, remaining skeptical of its implementation. Despite the group’s multiple attempts to shore […]
How OPEC+ Saw Its Hold on Global Oil Markets Fray Despite Extra Production Cuts 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.
The big bang expected for oil prices this year is turning into a whimper. Just weeks ago, Brent crude was on the cusp of finally fulfilling industry forecasts of a return to $100 a barrel as record fuel demand and Saudi Arabia’s supply cuts depleted global oil inventories. The eruption…