oil price

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss a historic event in the oil market, as WTI crude hit negative prices.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss Trump’s White House Press Conference where the US President delivered a necessary, confidant speech as the world tries to manage the spread of the coronavirus.
Trump declared a national emergency over the coronavirus outbreak, and outlined a mass testing plan and economic strategy going forward. Trump’s speech delivered a market rebound and an oil prices rise.

Via RT…
The drone strike on key Saudi oil facilities could stoke already-flaring tensions in the Middle East, driving crude prices higher amid growing fears of supply shortages, market and industry experts believe.

This article first appeared on RussiaFeed
President Putin of Russia met on Friday with Russian Prime Minister Dmitry Medvedev, who confirmed to Putin the line up of Russia’s new government.
Russia’s new government – most ministers keep their jobs
Here is the Kremlin’s account of their discussion, which provides a full list of the ministers.

The news for the economy appears “positive” as a combination of a strong American economy and the worries over Iran and the Venezuelan economic crisis together pushed crude oil prices through the $70 mark for the first time since November of 2014.

Russia and Saudi Arabia – the two biggest oil producers alongside the US – announced today Monday that they had agreed to extend oil production cuts for a further 9 months to March 2018.
The decision was announced in the form of a statement issued by the Russian and Saudi Energy Ministers, Alexander Novak and Khalid al-Falih.  In their statement they said they would do “whatever it takes” to rebalance the oil market to eliminate the current supply overhang.