Down by nearly 11% at one point during the night, oil has now pared most of its losses.
Russia and Saudi Arabia are “very, very close” to a deal on production cuts, said Kirill Dmitriev, CEO of Russia’s sovereign wealth fund RDIF.
“I think the whole market understands that this
deal is important… and to bring stability in a world that is about to
see probably the greatest recession ever.”
Dmitriev and Energy Minister Alexander Novak were
Russia’s top negotiators in the initial output cut deal with OPEC that
expired on March 31.
Crude futures -1.5% to $27.92/bbl.
https://seekingalpha.com/news/3558468-oil-pares-big-losses-saudis-russia-near-deal
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.