The stronger-than-forecast May U.S. jobs report and weekend agreement by OPEC+ to a one-month extension of its record output cuts may add to the optimism about the prospects for a global economic recovery, underpinning risk assets.
Amin to supply Shell-invested Petroleum Development Oman
That is the sixth consecutive week of gains and a 54% jump since early April.
businesses returning to work and a 750 billion euro EU stimulus plan outweighed rising U.S.-China tensions.
Current Economic Situation and Outlook; The Federal Reserve will continue to act forcefully, proactively, and aggressively as we deploy our toolkit
Product of Saudi slashing its official selling prices (OSPs) for April crude sales to some of the lowest levels in decades, undercutting its rivals, and exactly the same happened again for May crude sales
impact of the COVID-19 pandemic on the U.S. economy and the implementation of various fiscal and monetary policy tools used in response to the crisis.
As the global economy is slowly moving towards reopening, almost no one believes that demand or prices will shoot up later this year.
Committee decided to maintain the target range for the federal funds rate at 0 to 1/4 percent.
There’s still some concern that the 10 million barrels per day cut won’t be enough to offset demand destruction so the outlook for oil prices remain subdued