#WTI #Oil
After much negotiations, Opec+ members finally agreed to 9.7M barrels reduction in their productions and heads of G20 also agreed to 3.2M barrels per day reduction.. together that is 12.9M barrels reduction which is a significant number and can support prices and bring them to a place where major players in the oil market can still stay in business (+30$ per barrel).
of course we have to wait and see how much this can lift prices in the face of low demand caused by coronavirus.
After much negotiations, Opec+ members finally agreed to 9.7M barrels reduction in their productions and heads of G20 also agreed to 3.2M barrels per day reduction.. together that is 12.9M barrels reduction which is a significant number and can support prices and bring them to a place where major players in the oil market can still stay in business (+30$ per barrel).
of course we have to wait and see how much this can lift prices in the face of low demand caused by coronavirus.