Monday, December 23, 2024
Brent crude could still drop to $10 a barrel and stay there in Q2: IHS Markit- oil and gas 360

Brent crude could still drop to $10 a barrel and stay there in Q2: IHS Markit

CNBC Oil prices on Thursday rallied more than 20% following reports of a possible deal to cut production by an enormous 10 million barrels per day, but one analyst is still predicting that Brent crude will sink to $10 a barrel.   The benchmark Brent crude was trading up 9.92% trading at $32.91 on Friday afternoon in Asia, while West Texas Intermediate gained up 4.82% at $26.54. “We are

OPEC+ debates biggest-ever oil cut as virus destroys demand-oil and gas 360

OPEC+ debates biggest-ever oil cut as virus destroys demand

Reuters DUBAI/LONDON/MOSCOW  – OPEC and its allies are working on a deal for an unprecedented oil production cut equivalent to around 10% of global supply, an OPEC source said after the U.S. president called on producers to stop the market rout caused by the coronavirus pandemic. The meeting of OPEC and allies such as Russia has been scheduled for Monday,