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4 Mar 2020

OPEC+ ministerial panel ends with no agreement, Russia resists deeper cuts – Reuters

The OPEC+ ministerial panel on Wednesday concluded without an agreement as Russia continues to resist deeper oil production cuts, Reuters reported, citing sources familiar with the matter.

"Russia wants an extension of existing oil cuts only until the end of the second quarter," sources told Reuters. "Some OPEC members want new cuts of 1-1.5 million barrels per day."

WTI extends slide

The barrel of West Texas Intermediate (WTI) pushed lower on this development and was last seen trading at $46.75, erasing 0.75% on a daily basis.

Mar 4, 2020

BoE's Bailey: We need more evidence on coronavirus before making policy decision

"We need more evidence on coronavirus before making a policy decision," incoming Bank of England Governor Andrew Bailey told the UK Parliament's Treas
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Mar 4, 2020

IMF's Georgieva: Confident ECB will make “the right call” in response to coronavirus

"We are looking very carefully at data on the economic impact of coronavirus," International Monetary Fund (IMF) Managing Director Kristalina Georgiev
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