FILE PHOTO: The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. REUTERS/Angus Mordant/File Photo
What’s more, governments in countries around the globe are considering extending travel and social lockdown measures that have sapped fuel use in order to prevent the coronavirus from spreading. G20 nations have been urged to help reduce the supply glut, but there was little detail on the outcome of Friday talks between energy ministers from the group and Saudi Arabia.
A veteran Singapore oil trader, who declined to be named due to company policy, pointed to inventory data as a key determining factor for future price trends.The next major focus for markets is watching for numbers from the U.S. Department of Energy on filling its strategic petroleum reserves with demand slumping, the trader said.
Florence_Tan Markets aren't buying into Trump's deal. Oil is trading virtually unchanged.
Florence_Tan
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Florence_Tan WTI has barely budged. Under $24/barrel. More like a market fart
Does this mean we don’t have to drill Alaskan wildlife areas?
So they are cutting starting may 1. Meaning Saudi can keep pumping 12.3 mbd until may 1.
OIL - special focus on Secular Horizon...
OilPrices Oil No one cares....
Electric cars will drop it to $5/barrel
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WTI below $24/barrel? Made more like a fart.