Global pact forged to contain oil price crash – Centre Daily Times

Global pact forged to contain oil price crash – Centre Daily Times

In the photo released by Saudi Energy Ministry, Prince Abdulaziz bin Salman Al-Saud, Minister of Energy of Saudi Arabia, third right, chairs a virtual summit of the Group of 20 energy ministers at his office in Riyadh, Saudi Arabia, Friday, April 10, 2020, to coordinate a response to plummeting oil prices due to an oversupply in the market and a downturn in global demand due to the pandemic.. Subscribe for unlimited digital access to the news that matters to your community.. Saudi Arabia sharply criticized Russia days earlier over what it described as comments critical of the kingdom, which finds itself trying to appease U.S.. Even U.S. senators had warned Saudi Arabia to find a way to boost prices as American shale firms face far-higher production costs.. Iranian Oil Minister Bijan Zanganeh also told state television that Kuwait, Saudi Arabia and the United Arab Emirates would cut another 2 million barrels of oil a day between them atop the OPEC+ deal to help re-balance the markets.. "The minister of Saudi Arabia said that the Saudi Arabia, Kuwait and the UAE agreed to reduce more two million barrels than the agreement voluntarily," Zanganeh said.. I would like to thank and congratulate