Oil Extends Drop With OPEC+ Warning of Precarious Market Outlook

(Bloomberg) — Oil slid toward $40 a barrel in New York with OPEC+ warning of a precarious outlook for the market as a resurgent virus hits consumption.Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman called on the group to be proactive in the face of uncertain demand as an OPEC+ committee gathered to assess the state of the market. While the panel didn’t discuss if they should press on with plans to taper output cuts, they can change course if needed. Meanwhile, more U.S. stimulus remained elusive as time draws short to reach an agreement on a bill that could …read more

Source:: Yahoo Finance


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