The crash in oil prices would be felt by countries and oil companies that heavily rely on oil for the lion share of their income.
Oil prices, particularly WTI, crashed below $0 during on Monday for the first time ever sending shock waves across the world.
Despite the deal by the OPEC and its allies, in addition to the intervention of US President, the volatility of the oil market still continues unabated.
The historic oil deal between OPEC and other top oil-producing countries on Sunday, April 12, 2020, did not come without its own drama.
US President Donald Trump has disclosed that the Organisation of Petroleum Exporting Countries and allies (OPEC+) is looking at 20 million barrels per day oil cut...
Oil prices slumped more than 50 cent a barrel on Monday, even after major producers agreed their biggest-ever output cut.
So what was agreed? Here is the break down of the cuts and the timelines;
A historic deal to cut global crude oil output has been reached between OPEC, Russia and a group of 20 countries including the US, Canada, Brazil,...
There appears to be no respite for the oil crisis, despite the announcement of a deal by OPEC and its allies OPEC+ for output cut.
Oil prices fell today as political leaders around the world escalated lockdowns to curb the spread of the global coronavirus pandemic.