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Saudi Arabia’s King Salman, U.S. President Donald Trump, and Russia’s President Vladimir Putin expressed their “great satisfaction” on the outcome of the OPEC+ meeting during a conference call, Saudi Press Agency (SPA) reported on Sunday.
“The big Oil Deal with OPEC Plus is done. This will save hundreds of thousands of energy jobs in the United States. I would like to thank and congratulate President Putin of Russia and King Salman of Saudi Arabia. I just spoke to them from the Oval Office. Great deal for all!”, President Donald Trump posted on Twitter.
In a separate phone call between Donald Trump and the Crown Prince of Saudi Arabia Mohammed bin Salman, they welcomed the outcome of the meeting to cut oil output amid virus outbreak. The outcome of OPEC+ meeting will enhance the growth of the global economy.
Earlier on Sunday, the Organization of Petroleum Exporting Countries and allies led by Russia, agreed to cut oil output by a record amount to support oil prices amid virus outbreak. It represents a 10% oil output of global supply.
Oil prices have gone down drastically this year as most of the movement of the world economies decelerated, lowering demand for oil. By reducing excess supply, it is hoped that oil prices in the world market would rise to a level where producers would not be at a losing end.
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
The self-driving car company Waymo LLC and Fiat Chrysler Automobiles NV (FCHA.MI) signed a partnership deal on Wednesday to fully develop self-driving cars, pickups, and SUVs. Waymo, an Alphabet Inc. (GOOGL.O) unit, and Fiat Chrysler said ...
Oil prices steadied on Tuesday, stuck in narrow ranges as investors pinned hopes on fuel demand recovery amid renewed lockdowns due to rising coronavirus cases. Prices were supported by positive news on vaccine development as medical institutions ...
On Monday, U.S. international banking giant Goldman Sachs (G.S.) said that it would resume negotiations with the Malaysian government this week to hammer out a multi-billion dollar financial settlement lost in a scandal at sovereign fund 1Malaysian ...
Glenmark Pharmaceuticals Ltd was given a notice by the Drug Controller General of India (DCGI) on overpricing and false claims of its generic version of favipiravir, FabiFlu, according to local media reports, sending the company’s ...
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