Oil Holds Below $25 on Worries an Output Cut Won’t Be Big Enough

(Bloomberg) — Crude steadied in Asia, holding under $25 a barrel as traders weighed whether output cuts being discussed by the world’s top producers would be enough to offset an unprecedented demand loss from the coronavirus outbreak.Futures in New York rose as much as 3.5%, after sliding more than 9% on Tuesday. Saudi Arabia and Russia are hammering out terms to a production agreement, with OPEC+ talks planned for Thursday and a G-20 meeting of energy ministers set for Friday, according to people familiar with the matter, although a deal hinges on some form of cooperation from the U.S.There are …read more

Source:: Yahoo Finance