Could crude reach under $35 a barrel?
- Oil prices are down 30% for the year as the new coronavirus, COVID-19, slashes global demand forecasts.
- With previously agreed OPEC+ production cuts expiring at the end of March, Saudi Arabia and Russia can theoretically pump as much crude as they want.
- International and U.S. oil benchmarks plummeted to multiyear lows on Friday, with Brent crude closing at $45.27, down more than 9%, and West Texas Intermediate down more than 10%.
https://www.cnbc.com/2020/03/08/opec-deal-collapse-sparks-price-war-20-oil-in-2020-is-coming.html
the Java Exchange 