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RSS FeedsGlobal oil deal gains traction with US predicting big drop in oil production
(WorldNews Business)

 
 

8 april 2020 08:38:10

 
Global oil deal gains traction with US predicting big drop in oil production
(WorldNews Business)
 


New York: The world`s largest oil producers are inching closer to an unprecedented global deal to rescue the energy industry from collapse after the U.S. said production will drop dramatically. While the forecast reflects what President Donald Trump has called an `automatic` reduction by U.S. explorers, not a commitment from the world`s top producer, it helps pave the way for Saudi Arabia and Russia to coordinate output cuts at Thursday`s virtual OPEC+ meeting. On Friday, they`ll seek cooperation from other nations in a Group of 20 conference. Their actions will determine whether the world continues to drown in a flood of oil that`s starting to overwhelm storage tanks and force a wave of...


 
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