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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (81510)	4/3/2020 3:33:18 PM
From: Goose94	Read Replies (1) \| Respond to of 202902

Crude Oil: Russia said that no conversations occurred and that it had not agreed to anything. Saudi Arabia called for a meeting but said that action on its part would depend on other countries participating. One OPEC official said the tweet was “Trump talking before his brain engages,” according to the FT. While the numbers in Trump’s tweet appeared unrealistic, there is some degree of interest from all sides to collective production cuts. It’s not clear that the U.S. would offer anything – Reuters reported that the U.S. government would not ask domestic oil producers to cut output. In addition, Russia has shown a reluctance to cut output, eyeing a decline in U.S. shale. Indeed, oil prices at $25, or $20, or possibly even lower would impose production cuts even without any formal governmental arrangement. Still, a new round of negotiations could take place, possibly with U.S. involvement.