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MarketWatch MarketPulseApr 09, 2020
OPEC deal to curb oil production held up by Mexico: report
Mexico is holding up a deal by the world's largest oil producers, including Saudi Arabia and Russia, to curb production, Bloomberg News reported late Thursday. A tentative agreement to cut 10 million barrels a day in May and June was reportedly reached by the OPEC nations earlier in the day, apparently ending a months-long price war, but Bloomberg reported Mexican officials refused to go along with the proposed cuts to its production, and walked out of marathon videoconference negotiations. Delegates told Bloomberg they hope to convince Mexico in further talks Friday. The proposed deal required all parties to cut production by 23%, Bloomberg said. Crude prices sank Thursday after investors worried the deal wouldn't be enough to offset a sharp drop in demand due to coronavirus-related shutdowns around the world.

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Yahoo BusinessApr 09, 2020
Even OPEC 's Deep Cuts Couldn't Keep Oil Markets From Plunging
(Bloomberg) -- Some of the world's largest oil producers are finalizing a deal that would take an unprecedented 10 million barrels a day of crude off the market in an bid to resuscitate prices pummeled by the coronavirus pandemic.The market's crashing anyway.A marathon OPEC video conference that's still ongoing after eight hours has so far yielded an end to Saudi Arabia's price war with Russia, established the contours of an historic supply-curb agreement, and laid the foundation for an even broader global accord to trim production. Yet futures in New York ended the day 9% lower while crude in London closed down 4%.Oil's seemingly unstoppable collapse underscores just how dramatically demand has deteriorated as the virus ravages world economies and brings modern life to a standstill. More than two-thirds of the world's population is in lockdown -- not driving, flying or otherwise burning fuel. Consumption is falling faster than anyone predicted, with demand losses seen reaching 35 million barrels a day by some estimates. Against that backdrop, an agreement to eliminate 10% of global crude supply -- while extraordinary -- isn't a panacea.The stakes could not be higher: OPEC 's ability to correct the worst market rout in nearly two decades could bend the fortunes of energy players across the globe, from petro-states and Big Oil to traders and oilfield workers. Billions of dollars in spending and countless industry jobs are at risk as prices tumble, triggering shale bankruptcies and shutting oil fields

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Google Business NewsApr 09, 2020
Trump administration has expelled 10000 migrants at the border during coronavirus outbreak, just 100 in custody at the border - The Washington Post
Trump administration has expelled 10000 migrants at the border during coronavirus outbreak, just 100 in custody at the border  The Washington PostTrump quietly shuts down asylum at U.S. borders to fight virus  AOLUS expels more than 6000 migrants using new pandemic rules  CNNTom Homan: In fight against coronavirus, enforcing immigration laws saves lives  Fox News

Yahoo BusinessApr 09, 2020
Saudi-Russia Oil Deal Under Threat as Mexico Walks Out of OPEC Talks
(Bloomberg) -- An agreement between Saudi Arabia and Russia for record oil-production cuts was endangered late on Thursday as Mexico refused to participate in the curbs and left the meeting without approving the deal.Ministers will continue to discuss ways to secure the Latin American country's approval on Friday, delegates said. The situation, which came after more than 9 hours of talks via video link, cast doubt over a global effort to revive the oil market from a debilitating coronavirus-induced slump.Earlier on Thursday, OPEC had tentatively agreed to cut production by about 10 million barrels a day in May and June, delegates said. Saudi Arabia and Russia, the biggest producers in the group, would each take output down to about 8.5 million a day, with all members agreeing to cut supply by 23%, one delegate said.Attention should have turned on Friday to the Group of 20 energy ministers meeting. A contribution from major producers including the U.S. and Canada -- possibly as much as 5 million barrels a day of further supply reductions -- could boost efforts to revive prices after the initial OPEC agreement failed to push crude higher on Thursday.The dogged refusal of Mexico's Energy Secretary Rocio Nahle Garcia to accept the production level proposed for her country as part of the deal upended that schedule.Political PressureThe unexpected setback doesn't change the urgent need for the Organization of Petroleum Exporting Countries and its allies to reduce production. Oil's spectacular pri

Wall Street Journal US BusinessApr 09, 2020
U.S. Jobless Claims Soar for Third Straight Week
The number of Americans seeking unemployment benefits continued to surge at unprecedented levels, bringing the total number of applications to nearly 17 million since the coronavirus pandemic shut down swaths of the U.S. economy.

MarketWatchApr 09, 2020
CityWatch: Crime plummets in NYC amid lockdown, but not as much in neighborhoods hit hardest by the coronavirus
The outbreak has hit the city's poorer minority and immigrant communities particularly hard.

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