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Oil Slumps On Disappointment With OPEC Supply Deal

Friday, 10 April 2020 02:33 WIB Minyak WTI Brent

Oil prices slumped on Thursday, giving back an earlier 10% surge as investors reacted negatively to the emerging supply-cut agreement between members of OPEC and its allies in response to the global fuel demand collapse due to the coronavirus pandemic. Oil producers led by Saudi Arabia and Russia tried to hammer out an agreement that would address growing oversupply amid a 30% drop in worldwide fuel demand. However, analysts said that the production group may end up cutting less than the market hoped, adding that the demand destruction from the pandemic-induced recession was too great a problem to tackle easily. The Organization of Petroleum Exporting Countries and its allies including...

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Energy

Oil jumps ahead of 'make-or-break' OPEC meeting
Thursday, 9 April 2020 20:35 WIB
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Precious Metals

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CURRENCIES

Dollar Unmoved as Event Risk Limits Activity
Thursday, 9 April 2020 15:57 WIB
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