(Bloomberg) — Oil extended its slide from the lowest close in more than two years as investors wait for a Russian response to OPEC’s plan for deeper and longer cuts to offset the demand destruction caused by the coronavirus.Brent closed below $50 for the first time since mid-2017 on Thursday after OPEC ministers tried to force Russia into accepting a proposal for a supply cut of 1.5 million barrels a day through to year-end. Cartel members warned that a failure to join may lead to the coalition abandoning curbs altogether. OPEC Secretary-General Mohammad Barkindo struck a more conciliatory tone and …read more
Source:: Yahoo Finance
