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The oil price dropped on Thursday and the manufacturer of the manufacturer as an unexpected manufacturer as to promote the growth of the global economy.
OPC + OPC + Member includes Saudi Arabia and Russia says they will only increase Oil Production in May, bring a commitment to cut the production completely over the next 18 months.
Movement has arrived an hour after Trump, US president, Define the regimen of new tax rally Investors saying worse than expected and raise the risk of global economic recession.
The twin development was pushing Brent, Global Benchmark, down 7 percent to $ 69.60 in the largest daily trading in almost three years. In fact, the criteria of the United States has fallen 7.6 percent to 66.21.
Stocks in oil manufacturers fall in the threat of low crude prices. At 1pm time in New York Exxonmobil dropped 4 percent in $ 113.63, the Chevron, a percentage and occidental and occidental).
Power Index 100 Power is down more than 6 percent.
Despite the concerns about damage to world growth from TariffOPEC + OPEC members say they will increase the product by 411,000 barrels a day in May 122,000 b / D.
Membership, who holds a virtual conference on Thursday. Said they decided « said »
The OPEC member has been produced back the product over the past three years, cutting out their combined yield by nearly 6MN B / D to push the higher crude price. Initial effective, helping to maintain oil higher than $ 90 tank for most time 2022.
But the cuttings were less effective than the weak demand, making oil output and some water pump stores above their quarters. In response, Saudi Arabia-Led Group began to make some measures this week.
The following decisions of the duration of the increasing period of tension between members such as Saudi Arabia, which shared the majority of the largest cutter.
Amrita Sen says, « Any director to pressure the pressure in power consultation.
The decision means that the oil is the hardest hit Goods On Thursday, but the price for many others, including aluminum, aluminum, also exclude the alloy from customs.
The coronal benchmark Benchmark London is lower than $ 9,400 while aluminum drops 2 months.
Mr Bryan Billed, (and) may affect US and economic growth of the economy, « said
The fear of the world’s recession and threat of inflation can also beat the requirements for important metal including copper, you added.
The index referred to the needs of goods can suffer if the tariff has led high prices for the product that they are used, such as the aluminum ects
More reporting by Jamie Smyth in New York
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