BUSINESS/FINANCE NEWS
Setup News Ticker
   BUSINESS/FINANCE NEWS
Searching for 'Oil Trump'. (Return)

Yahoo BusinessJun 06, 2020
OPEC Meets to Extend Cuts That Trump Says Saved Oil Sector
(Bloomberg) -- OPEC gathers on Saturday to ratify a deal for at least an extra month of record production cuts that U.S. President Donald Trump said saved the American oil industry.After a week of cajoling by Saudi Arabia and Russia, the cartel's members were ready to prolong almost 10 million barrels a day of output curbs to the end of July, instead of easing them as previously planned.The imminent extension, coupled with a surprisingly good U.S. jobs report, sent crude almost 6% higher to $42.30 a barrel on Friday in London, more than double the price in April.That's eased pressure on the budgets of oil-rich nations and revived the fortunes of energy companies from Exxon Mobil Corp. to shale drillers such as Parsley Energy Inc.Trump himself hailed the recovery on Friday and thanked the cartel's leaders for making it possible."Just a month ago. We had a disaster with respect to energy. It was down to zero, it was worthless," Trump said at the White House. "We saved that industry in a short period of time. And you know who helped us? Saudi Arabia and Russia."Bumpy RoadThe unlikely celebration in Washington came at the end of a long road that could still have some unwelcome twists and turns.There's no guarantee that Trump, who for most of his presidency has been openly hostile to the Organization of Petroleum Exporting Countries, won't return to accusations of market manipulation and price gouging when it suits him.The partnership at the heart of OPEC -- between Saudi Arabia and Russia -- was only recently pat
TRENDING TAGS
Jobsreport Unemployment surprise Dow points
stocksJobs Rally Today Drop surprise
Trumptroops Floyd Germany Drew Brees
Unemploymentjobs rate million 133% report
Coronaviruspandemic Americans amid latest World
COVID-19jobs Study drug cut aviation
Pandemiccoronavirus during jobs Dow soars
Dowpoints jobs report Market futures
stockmarket Today Jobs Rally Record
marketstock Jobs rally Stocks Dow

NEWS SOURCES
Top News (Business News)
Accounting Today
AdWeek News
Banking Business Review
Barron's This Week Magazine
Barron's Up and Down Wall Street Daily
Brad Ideas
Chicago Tribune Business News
CNBC Business
CNBC Economy
CNBC Finance
CNN/Money
CNN/Money Real Estate News
Dismal.com: Analysis
Dismal.com: Indicators
Enterprise Application News
Entrepreneur.com
Forbes Headlines
Forbes Social Media News
FT.com - China, Economy & Trade
FT.com - Financial Markets
FT.com - Hedge Funds
FT.com - Telecoms
FT.com - US
Google Business News
Google Market News
HBS Working Knowledge
Inc.com
INSEAD Knowledge
International Tax Review
Kiplinger
Knowledge@Wharton
L.S. Starrett News
MarketWatch
MarketWatch Breaking News
MarketWatch MarketPulse
McKinsey Quarterly
MSNBC.com: Business
Nielsen Trends
NonProfit Times
NPR Topics: Business
NYTimes Business
OpinionJournal.com
Private Equity Breaking News
Reuters Business
Reuters Company News
Reuters Money
SEC.gov Updates: News Digest
SHRM HR News
Tax Policy News
The Economist International News
The Motley Fool
USA Today Money
Wall Street Journal US Business
Wall Street Transcript
Washington Post Business
WSJ Asia
WSJ Europe
WSJ MoneyBeat
WSJ Opinion
WSJ US News
WSJ World Markets
Yahoo Business
  • CEOExpress
  • 1 Boston Place | Suite 2600
    Boston MA 02108
  • 617 482 1200
    617 299 8649 (fax)
  • Contact
  • As an Amazon Associate
    CEOExpress earns from
    qualifying purchases.

©1999-2020 CEOExpress Company LLC