OPEC and Russia meet on Thursday to try to agree to record oil output cuts but their efforts to address the slump in prices wrought during the coronavirus pandemic have been complicated by mutual animosity and the reluctance of the United States to join the action. Crude prices have slumped below the cost of production for many producers, including the booming U.S. shale oil industry. U.S. President Donald Trump said last week a deal he had brokered with OPEC leader Saudi Arabia and Russia could lead to cuts of as much as 10-15 million barrels per day or …read more
Source:: Yahoo Finance
