The Organisation of the Petroleum Exporting Countries (OPEC) has struck a deal to slash global oil production by 10 per cent, as it graples with the sharp and sudden drop in global fuel demand amid COVID-19. It’s the largest single reduction in oil production in the organisation’s history, driven by the close to 30 […]
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As the economic fall out from the Coronavirus outbreak continues, resulting travel restrictions and drops in global demand for fuel are driving down fuel prices. The Organisation of the Petroleum Exporting Countries (OPEC) price per barrel sat at US$55.51 on Monday, down from $58.94 on January 31. While financial media company Bloomberg reported Citigroup have
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