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20.04.2020 WTI Daily Analysis
WTI is trading at $14.04 (-23.15%) which is the lowest it's been since 1999. This is still due to demand concerns as half of the world is still
Yazar: Zack Smith
Yayınlanma: 20 Nisan 2020 19:44
Güncellenme: 12 Kasım 2024 03:18
20.04.2020 WTI Daily Analysis
WTI is trading at $14.04 (-23.15%) which is the lowest it's been since 1999. This is still due to demand concerns as half of the world is still under lockdown. The supply is far above the demand and it has gotten to a point whereby the Department of Energy is considering paying oil producers to keep the crude oil in the ground. In last week`s crude oil inventories, we saw a record 19 million barrel increase in domestic crude oil supplies. Even OPEC coming to an agreement could not save oil which has been at the mercy of coronavirus. Many analysts have said that the 9.7 million barrel cut a day is not enough as the demand is extremely low, and they even expect the price of oil to go as low as $10.İLGİLİ HABERLER
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