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Added on the 23/03/2015 17:09:24 - Copyright : Reuters EN
Oil prices fell under $55 per barrel after Saudi Arabia refused to cut output unless other producers outside OPEC did so too. As Grace Pascoe reports it looks like prices could remain low for a while.
Midland (Texas), Apr 6 (EFE).- Gas prices across the US are extremely low causing oil prices to drop dramatically in part due to the COVID-19 coronavirus. (Camera: LARRY SMITH).FOOTAGE SHOWS AN OIL PUMP IN AN OIL FIELD NEAR MIDLAND, TEXAS, USA.
Oil prices have jumped again as a huge wildfire in Canada's oil sand region knocked out over a million barrels in daily production capacity. As Hayley Platt reports, a government reshuffle in Saudi Arabia is also being closely watched.
The International Energy Agency said unusually mild weather and rising supply will keep the oil market oversupplied until at least late this year. Fred Katayama reports.
An oil price surge after a breakdown in diplomatic ties between Saudi Arabia and Iran was short-lived due to weak economic data from some of Asia's largest economies. But as Grace Pascoe reports there are concerns the dispute could have an impact on the global economy.
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