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   제목: Oil Extends Drop With OPEC+ Warning of Precarious Market Outlook


Oil Extends Drop With OPEC+ Warning of Precarious Market Outlook

By James Thornhill and Elizabeth Low

October 20, 2020


Saudi Arabia뭩 Energy Minister Prince Abdulaziz bin Salman called on the group to be proactive in the face of uncertain demand as an OPEC+ committee gathered to assess the state of the market. While the panel didn뭪 discuss if they should press on with plans to taper output cuts, they can change course if needed. Meanwhile, a deal on more U.S. stimulus remained elusive as time draws short to reach an agreement on a bill that could pass by the election.



Oil stuck near $40 as the coronavirus crimps demand
OPEC+ is set to add almost 2 million barrels a day to the market from January if it doesn뭪 change course, with a larger ministerial meeting that will decide the direction on output cuts scheduled for Nov. 30-Dec. 1. While demand from China is robust, oil is struggling to push past $41 a barrel as rising coronavirus cases and expanding Libyan supply keep prices in check.

Excerpts articles from Bloomberg
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