fbpx
  • About us
  • Advertise
  • Contact
  • Nominate
  • Client’s Voice
  • Login
  • Register
📖 Magazine
The Global Economics
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
  • Home
  • Banking
  • Non Banking
  • Markets
  • Infrastructure
  • Lifestyle
  • FeatureNew
  • Awards
No Result
View All Result
The Global Economics
No Result
View All Result
Home Energy

Historic oil deal closed by Trump to resurrect oil prices

The Global Economics by The Global Economics
April 17, 2020
in Energy, Top Stories
Reading Time: 1 min read
0
USA flags

USA flags

69
SHARES
385
VIEWS
FacebookTwitterRedditWhatsAppLinkedInShare Link

The price war between Russia-Saudi Arabia comes to an end with one of the biggest oil cuts in production on Sunday, as the white knight U.S. President Donald Trump takes a step to stabilize the oil sector badly affected by the coronavirus pandemic.

Plans from the OPEC+ oil cartel and its allies to reduce the global oil production by around 10 million barrels a day for the months May and June could mean a near 10% drop in the production. Whether or not this “historic move” would bolster crude prices is a different story, the deal is expected to bring some relief to the economies of the Middle East countries, Africa, and certain oil firms of America.

The agreement took place on Easter weekend over repeated calls involving Mr. Trump, Mexican President Andrés Manuel López Obrador, the Saudi crown prince Mohammed bin Salman, and Russian president Vladimir V. Putin, among others.

Donald Trump welcomed the announcement, saying the deal could protect thousands of energy jobs in the U.S., as he congratulated Saudi and Russia. Majority of the cuts will be absorbed by Saudi Arabia and Russia as each of the countries will cut production by 2.5 million barrels a day.

The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

Related Posts

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit
Ultility

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

by Riya Thomas
February 1, 2023
China To Boost Oil Demand By Up To 500,000 BPD PC: Reuters
Energy

Oil Cools Off on a Weak Dollar

by Anuj Singh
February 1, 2023
Oil storage tank
Islamic

Saudi Arabia Lowers Crude Prices For Asia, Not For the US

by Anuj Singh
January 31, 2023
Emirates
Energy

Dubai’s Emirates Makes History As It Conducts a Test Flight With 100% Sustainable Aviation Fuel

by Marifur Rahman
January 30, 2023
Adani Group shares plunged, resulting in the erasure of $72 billion after three-day selloffs
Funds

72 Billion Wiped Out: Adani Group Shares Plunge After Three-Day Selloffs

by Riya Thomas
January 30, 2023
Facebook Twitter Instagram Youtube LinkedIn Soundcloud
The Global Economics

The Global Economics Limited is a UK based financial publication and a quarterly business magazine giving thoughtful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

DMCA.com Protection Status

  • Privacy
  • Legal
  • Terms of Use
  • Client’s Voice
  • Server Status

norton verified - the global economics

Latest Posts

Lebanon currency devaluation

Lebanon to Devalue Its Currency By 90%

February 1, 2023
A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

A Western Oil Milestone: Exxon Sets Historic High with Record $56 Billion Profit

February 1, 2023
China To Boost Oil Demand By Up To 500,000 BPD PC: Reuters

Oil Cools Off on a Weak Dollar

February 1, 2023
Download The Global Economics PWA to your mobile or Desktop
PWA App Download
Download The Global Economics Android App to your mobile or Desktop
Android App
Download The Global Economics IOS App to your mobile or Desktop
IOS App

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

No Result
View All Result
  • About us
  • Awards
  • Magazine
  • Client’s Voice
  • Exclusive Coverage
  • Nominate
  • Login
  • Sign Up

All Rights Reserved © 2020 | 🇬🇧 The Global Economics, Business Finance Publication - www.theglobaleconomics.uk 🌏

Welcome Back!

Sign In with Facebook
Sign In with Linked In
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Facebook
Sign Up with Linked In
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles, delivered right into your email inbox.

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00
Go to mobile version