Oil gains after Saudi Arabia says it will cut production further to boost prices - Business Insider

. Now, Saudi Arabia's June production level will be roughly 7.5 million barrels per day, about 4.8 million barrels per day lower than April output. An investor who oversees $300 billion at T. Rowe Price says stocks are in a 'pseudo-bullish rally' — and shares 4 tips for making money during the slow recovery ahead

The Ministry also directed Aramco to lower its current production numbers for the month of May from the current target level of 8.5 million barrels a day, according to a press statement. The oil market has been roiled by the coronavirus pandemic as sweeping shutdowns and bans on nonessential travel have cratered demand for the commodity.

While there are signs that demand may rebound as economies start to reopen, there are still concerns about oil storage weighing on prices.

No, the world does not need higher oil prices in the midst of global pandemic. The oil industry does. The way forward - RenewableEnergy greenenergy DivestFromWar

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Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

With oil prices depressed, China presides over a buyer’s marketOil and gas suppliers are toiling to secure Chinese demand u need a true man that will love me and I will give him all that I have MilliHesaplarYanyana 🇹🇷🇹🇷🇹🇷 Call it capitalism then, uneducated fool
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