OEF Rapid Review Articles
The world’s two most powerful oil producers have reached a tentative agreement to freeze oil production at its current levels, dashing hopes of a supply cut for the world’s glutted market. Meeting in Doha, Russian, Venezuelan, Qatari and Saudi Arabian oil ministers reached a deal to not exceed production from their January levels, but only if it was followed suit by other producers such as Iran and Iraq. Forward prices for Bent crude plunged by as much as 3 percent on the news to $33.68 a barrel, reversing days of gains.
Telegraph.co.uk
LINK TO THE SOURCE ARTICLE:
Oil prices crash after Saudis fail to broker global production cut
LINK TO THE SOURCE ARTICLE:
Oil prices crash after Saudis fail to broker global production cut