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Saturday, 04 April 2020 12:42

Oil price barrels ahead as OPEC flags meeting

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The price of crude oil surged again Friday after OPEC said it would talk to non-members, notably Russia, giving investors hope for an end to a price war which has created market chaos along with crushed demand because of the coronavirus.As quoted by AFP.com ( 04/4) OPEC oil producers and their allies will meet Monday via video conference, a source close to the cartel said. And Russian President Vladimir Putin said his country was ready to cooperate with Saudi Arabia and the United States on a production cut. OANDA analyst Craig Erlam told AFP that there's certainly a lot of optimism that a deal is going to be done.Despite the happy talk in the oil sector, global stock markets fell following another set of devastating American employment numbers, gloomy eurozone services data and news that the number of declared COVID-19 infections passed one million worldwide//AFP

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