[ad_1]
US crude oil prices continue to drop. Worrying about loss of demand + overflowing stocks OPEC discusses price support measures
According to a Bloomberg report, US crude oil futures for June delivery fell more than 43% on Tuesday (April 21, 2020) to around $ 12 / barrel. Which was a steady decline in crude oil prices the day before. The May oil futures contract fell to the negative level for the first time due to concerns about lower demand and storage of oil deposits.
For measures to limit the outbreak of the Zovid-19 virus, resulting in a situation of excess supply and excess oil reserves. What is a factor that pressures oil prices? A report by the United States Petroleum Institute found that US crude stocks. USA They rose last week by more than 13.2 million barrels, while the Bloomberg survey said US crude stocks. USA They increased last week to 14 million barrels.
The sharp drop in oil prices affects tens of thousands of jobs in the industry. Including multi-billion dollar investments It also raises concerns about deflation, further exacerbating the economy that had previously been hit hard by the Covid-19 virus outbreak. Meanwhile, the OPEC Plus Minister of Energy held a meeting to discuss price support measures. Yesterday oil However, there is still no conclusion.
Never miss important news. Information on all problems
Add us as a friend through @prachachat.
[ad_2]
