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Reuters BusinessMay 27, 2020
Hong Kong unrest worries curb global shares rally
Unrest in Hong Kong over Beijing's proposed national security laws weighed on global shares and oil prices on Wednesday, offsetting optimism about the re-opening of the world economy.

Yahoo BusinessMay 27, 2020
Oil Slips From 11-Week High With Russia Set on Easing Cuts
(Bloomberg) -- Oil declined from the highest settlement in 11 weeks on signs Russia is supporting plans to start easing supply cuts from July, while tensions between the U.S. and China escalated amid the specter of sanctions.Futures fell 1% in New York. Moscow wants to scale back curbs in line with the OPEC deal, according to people familiar with the matter. A Kremlin spokesman had earlier said Russia would analyze the market before making any decision at a June 9-10 OPEC meeting. Meanwhile, the U.S. is considering a range of sanctions to punish China for its crackdown on Hong Kong, further deteriorating their relationship.Crude in New York has surged about 80% in May, clawing back the declines of the previous two months. The physical market has also recovered in recent days. Indian, Chinese and South Korean refineries are buying distressed cargoes in a sign of returning demand. The price differences between immediate contracts and those for later delivery are also narrowing, in a further indication of supply tightness.OPEC and its allies agreed to reduce output by almost 10 million barrels a day from this month in an effort to drain a worldwide glut brought on by demand collapse amid the coronavirus outbreak. As part of that deal, cuts would slowly taper from July. Russia plans to stick with those terms, people familiar with the matter said.OPEC is scheduled to meet in two weeks to discuss whether to extend the curbs or ease them."At this stage there are two only variables that are able to significantly move
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