Crude Oil prices will have a major impact on the direction that the Russian economy will take, according to the chief executive of the Russian Direct Investment Fund (RDIF), but the country’s alliance with major oil producer group OPEC (known as OPEC+) is “ready to act” if necessary, he said.
brent crude
CRUDE OIL FUTURES ARE NOW IN OFFICIAL BEAR MARKET ??
Oil prices fell more than 1% on Tuesday, with Brent crude settling near seven-month lows below $60 a barrel as trade tensions between the U.S. and China intensified worries about weakening global demand.
Crude Oil Prices plunge over 5% to $67 as US-China trade tensions intensify
Gold Silver Reports (GSR) – Crude Oil prices slumped more than 5 per cent on Thursday on growing trade tensions, which have deepened over the US blackballing Chinese telecom giant Huawei.
Crude Oil Prices Up – Higher US Tariffs Kick in on Some Chinese Goods
Gold Silver Reports (GSR) – China on Friday said it “deeply regrets” the U.S. move, adding that it would take necessary countermeasures, without elaborating. Crude Oil prices rose on Friday despite the start of U.S. President Donald Trump’s tariff hike on $200 billion of Chinese goods, stoking the trade dispute between the world’s two biggest economies.
Oil Hits 2019 High as OPEC+ Re-Commits to Cuts in the Near Term
Crude Oil closed at its highest yet this year as OPEC and its partners committed to continuing production cuts until at least June, when they will meet to discuss an extension.
Saudi Arabia Pumps Record Amount of Oil as Trump Piles on Pressure
Gold Silver Reports (GSR) – The meeting, at which OPEC members will consider how to arrest a decline in oil prices, comes days after leaders of top global oil producers – Russian President Vladimir Putin, Saudi Crown Prince Mohammed bin Salman and Trump – travel to Argentina for a G20 summit this week.
Commodity Updates: Brent Crude Recovers, Gold Slides
Commodity Updates: Brent Crude Recovers – Brent crude rose 1.25 percent lower at $63.31 a barrel. It slumped 6.4 percent yesterday, the lowest level in nearly a year.