Oil Drifts Lower After Record Jump Amid Doubts Over Output Deal

(Bloomberg) — Oil slipped below $25 a barrel following a record surge as doubts crept in over U.S. President Donald Trump’s claim he had brokered a deal that would see deep supply cuts from Saudi Arabia and Russia.Futures advanced almost 25% in New York on Thursday after Trump tweeted that he expected the two leading producers to slash output by 10 million barrels or more. However, the Kremlin later said that President Vladimir Putin had not spoken to his Saudi counterpart and hasn’t agreed to reduce production. Citigroup Inc. said any deal was too little, too late.See also: Trump’s Push …read more

Source:: Yahoo Finance


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