More clouds on the growth horizon
Concerns over the ongoing economic slowdown are growing among financial markets. In the US, the Nasdaq index plunged on Friday by more than 4% on the back…
Crude prices rallied by 5% as OPEC decided to roll over the current production agreement, while Saudi Arabia extended its voluntary cut for another month. The radical change in the group’s strategy, now aiming at price appreciation instead of volumes, is predicated on the assumption that US producers will not enter the market in 2021.
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