Initiative to curb falling oil price | Production to be cut by 20 million barrels
Hi friends, this article is regarding Initiative to curb falling oil price | Production to be cut by 20 million barrels and how this decision will benefit the economy.
US President Donald Trump has said that OPEC Plus, a group of world's oil-producing countries, is working on a plan to cut production by 20 million barrels per day. This is news of great relief for America troubled by falling oil prices and the economic impact caused by it.
News agency AFP said in a tweet that President Trump has said that OPEC Plus is working on a plan to cut oil production by 20 million barrels per day.
Explain that after the announcement of oil production cuts, the US stock market saw a boom. Donald Trump thanked Russia's President Vladimir Putin and Crown Prince Mohammed bin Salman Al Saud for this historic agreement. Trump spoke to these two leaders over the phone.
However, due to coronavirus many countries of the world are in lockdown. Because of this, the consumption of oil has reduced drastically. The energy market in America was diving, thousands of jobs were in trouble. After this, it has been agreed to cut oil production so that the balance between demand and supply in the global energy market is maintained.
Explain that due to the dispute between Russia and Saudi Arabia and the demand of Coronavirus epidemic, global prices of crude oil have come down below $ 30 per barrel.
The White House said in a statement that Trump welcomed Russia and Saudi Arabia's commitment to reduce oil production to stabilize global energy and financial markets. Trump appreciated the agreement and described it as the best agreement for all.
In this regard, Trump tweeted, "There is a big deal with OPEC Plus. It will save thousands of jobs in the US in the energy sector. I want to thank Russia's President Vladimir Putin and Saudi Arabia's Crown Prince Salman. Oval Just talked to him from the office on the phone. It's a great deal for everyone. "
In another tweet, the US President said that OPEC Plus countries have agreed to reduce 20 million barrels of oil production a day, not 10 million barrels as is being reported in the media in many places. Trump said that the energy market will be strengthened again.
You can also read some of the popular posts here :
Why the renewal of Health Insurance policies are extended?
COVID19 Impact: Why GDP will go down?
I hope you have enjoyed reading this article regarding Initiative to curb falling oil price. Announces 50 thousand crores for cash flow. If you like my work, please share it with your friends, family and relatives. You can also follow me on social media sites like Facebook and Instagram.
US President Donald Trump has said that OPEC Plus, a group of world's oil-producing countries, is working on a plan to cut production by 20 million barrels per day. This is news of great relief for America troubled by falling oil prices and the economic impact caused by it.
Big cuts in oil production
News agency AFP said in a tweet that President Trump has said that OPEC Plus is working on a plan to cut oil production by 20 million barrels per day.
Trump said to Putin and Prince Salman - Thanks
Explain that after the announcement of oil production cuts, the US stock market saw a boom. Donald Trump thanked Russia's President Vladimir Putin and Crown Prince Mohammed bin Salman Al Saud for this historic agreement. Trump spoke to these two leaders over the phone.
Reduction in oil demand due to corona
However, due to coronavirus many countries of the world are in lockdown. Because of this, the consumption of oil has reduced drastically. The energy market in America was diving, thousands of jobs were in trouble. After this, it has been agreed to cut oil production so that the balance between demand and supply in the global energy market is maintained.
Explain that due to the dispute between Russia and Saudi Arabia and the demand of Coronavirus epidemic, global prices of crude oil have come down below $ 30 per barrel.
Encourage Corona Commandos and thank them
The White House said in a statement that Trump welcomed Russia and Saudi Arabia's commitment to reduce oil production to stabilize global energy and financial markets. Trump appreciated the agreement and described it as the best agreement for all.
Relieving news for America
In this regard, Trump tweeted, "There is a big deal with OPEC Plus. It will save thousands of jobs in the US in the energy sector. I want to thank Russia's President Vladimir Putin and Saudi Arabia's Crown Prince Salman. Oval Just talked to him from the office on the phone. It's a great deal for everyone. "
In another tweet, the US President said that OPEC Plus countries have agreed to reduce 20 million barrels of oil production a day, not 10 million barrels as is being reported in the media in many places. Trump said that the energy market will be strengthened again.
You can also read some of the popular posts here :
Why the renewal of Health Insurance policies are extended?
COVID19 Impact: Why GDP will go down?
Festival in India 2020
I hope you have enjoyed reading this article regarding Initiative to curb falling oil price. Announces 50 thousand crores for cash flow. If you like my work, please share it with your friends, family and relatives. You can also follow me on social media sites like Facebook and Instagram.
Post a Comment