WTI drops below $47 despite OPEC seen approving significant oil output cut

Citing some sources familiar with the discussion, Reuters reports that the Organization for Petroleum Exporting Countries (OPEC) is seen approving significant oil output cut at its two-day meeting Vienna, starting later on Thursday.

The sources said that the OPEC is still waiting for signals from Russia.

More to come …

Mar 5, 2020

Iranian OilMin: Amount of oil production cut not agreed yet, must be discussed

"Coronavirus has led to a decrease in oil demand and to an imbalance between demand and supply, and in this OPEC meeting we will need to discuss this

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Mar 5, 2020

Brazil: GDP growth revised down – Rabobank

Brazil’s GDP increased in line with market expectations but below Rabobank’s forecast. Analysts at the Dutch institution are lowering their GDP growth

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WTI drops below $47 despite OPEC seen approving significant oil output cut

Iranian OilMin: Amount of oil production cut not agreed yet, must be discussed

Brazil: GDP growth revised down – Rabobank