OPEC Secretary Common Mohammed Sanusi Barkindo (L), Saudi Arabia's Power Minister Prince Abdulaziz bin Salman (C) and Russian Power Minister Alexander Novak (R) attend an Opec-JMMC assembly within the UAE capital Abu Dhabi on September 12, 2019.
KARIM SAHIB | AFP through Getty Pictures
Specialists are calling dramatically decrease crude costs as main OPEC and non-OPEC producers put together for an all-out worth warfare, in a sudden U-turn from earlier makes an attempt to help the oil market as the brand new coronavirus hammers international demand.
"$20 oil in 2020 is coming," Ali Khedery, previously Exxon's senior Center East advisor and now CEO of Dubai-based technique agency Dragoman Ventures, wrote on Twitter on Sunday. "Large geopolitical implications. Well timed stimulus for web shoppers. Catastrophic for failed/failing petro-kleptocracies Iraq, Iran, and so on - could show existential 1-2 punch when paired with COVID19."
The remark got here as oil costs are down 30% for the yr and a day after Saudi Arabia introduced huge...
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