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Added on the 18/04/2016 16:21:12 - Copyright : Reuters EN
Oil prices tumble after a meeting of major exporters in Qatar at the weekend collapsed without an agreement to freeze output. Ryan Brooks reports.
Oil prices have tumbled as Iran and six world powers close in on a final nuclear deal which will end sanctions on the Islamic Republic and let more Iranian oil on to world markets. But as Hayley Platt reports some say a deal won't have an immediate impact.
European Council chief Charles Michel says he is "confident" the European Union will reach an agreement on a Russian oil embargo ahead of next week's European summit, despite opposition from Hungary. SOUNDBITE
US stocks dipped slightly on Wednesday as investors weighed the latest stimulus talk developments. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to reach a deal before the deadline. According to Business Insider, the two are now working to finalize a proposal before the weekend. Senate Democrats rejected Republicans' $500 billion "skinny bill," leaving both parties stuck in a deadlock. Disagreements over a relief bill are still significant between the Republicans and Democrats. The White House recently offered a $1.9 trillion bill, coming in well below Democrats' $2.2 trillion package.
President Donald Trump confirms that the US has agreed to help Mexico meet its commitment to slashing oil production under a global deal to address the petroleum glut. "Mexico is going to cut production by 100,000 barrels per day ... we'd make up the difference, they would reimburse us at a later date," says Trump. SOUNDBITE
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