CNBC: Oil prices plunge 8% after OPEC+ fails to agree on a massive production cut
* Oil prices sank to multi-year lows on Friday as OPEC’s allies rejected additional production cuts proposed by OPEC on Thursday.
* U.S. West Texas Intermediate crude fell nearly 9% at the session low, while international benchmark Brent crude dropped more than 9% at its low. Each contract shed more than $4.00 at the session low.
* The current production cuts will be in place until the end of March as planned, but it’s uncertain if they will extend beyond this month.
Oil prices sank more than 8% to multi-year lows on Friday as OPEC’s allies rejected additional production cuts proposed by OPEC on Thursday.
U.S. West Texas Intermediate crude slid more than 8.8% to a session low of $41.77, its lowest level since August 2016. International benchmark Brent crude slid more than 8.5%, or $4.29, to trade at $45.70 per barrel. At its session low it was down more than 9%, touching its lowest level since at least June 2017.
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WNU Editor: For countries that are dependent on oil exports and high prices, this is a disaster.
More News On The Collapse Of Oil Prices
OPEC cuts deal falls apart as Russia resists, sending oil into tailspin -- Reuters
OPEC, Russia fail to agree on output cut, oil price dives -- AP
Oil Nosedives As OPEC Fails To Strike A Deal -- OilPrice.com
"Today Will Be A Regretful Day" - Oil Prices Have Collapsed After OPEC+ Talks End Without A Deal -- Zero Hedge
6 comments:
Will put some frackers out of work too.
True dat
15-minute coronavirus blood test is being used in China, Italy and Japan - but NOT in the UK or US because health officials have yet to approve it
CDC Tests for COVID-19
CDC has developed a new laboratory test kit for use in testing patient specimens for severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes COVID-19. The test kit is called the “Centers for Disease Control and Prevention (CDC) 2019-Novel Coronavirus (2019-nCoV) Real-Time Reverse Transcriptase (RT)-PCR Diagnostic Panel.
...
On Monday, February 3, 2020, CDC submitted an Emergency Use Authorization (EUA) package to the U.S. Food and Drug Administration (FDA) in order to expedite FDA permitted use of the CDC diagnostic panel in the United States. The EUA process enables FDA to consider and authorize the use of unapproved, but potentially life-saving medical or diagnostic products during a public health emergency. The U.S. Secretary of Health and Human Services declared the SARS-CoV-2 virus a U.S. public health emergency on Friday, January 31, 2020. FDA issued the EUA on February 4, 2020. IRR began distribution of the test kits to states, but shortly thereafter.
https://www.cdc.gov/coronavirus/2019-ncov/about/testing.html
Complete List of Donor Screening Assays for Infectious Agents and HIV Diagnostic Assays
www.fda.gov/vaccines-blood-biologics/complete-list-donor-screening-assays-infectious-agents-and-hiv-diagnostic-assays
Let's put it this way. The CDC and FDA have diseases to be on the look out for.
COVID 19 is not their only responsibility.
Squirrel did not read this this
"Real-Time Reverse Transcriptase (RT)-PCR Diagnostic Pan"
Does squirrel know the meaning of real time>?
Anyone want to take bets?
But he had to complain. He got this from the Daily Mail, which is 20% tabloid, 105 click bait and 70% real news organization.
"15-minute coronavirus blood test is being used in China, Italy and Japan - but NOT in the UK or US because health officials have yet to approve it" - Tabloid Daily Mail
www.dailymail.co.uk/news/article-8083585/15-minute-coronavirus-blood-test-used-China-Italy-Japan-NOT-UK.html
Poor squirrrrrrrrel.
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