Mid-Week Review – November 20, 2019
U.S. oil futures mark lowest finish so far this month
Oil futures fell on Tuesday, with U.S. prices settling at their lowest so far this month. A report from Reuters said Russia would likely commit to extend an existing pact to curb output at the early December meeting of the Organization of the Petroleum Exporting Countries and non-member allies but wouldn’t support deeper cuts. Click here to read more from MarketWatch.
Oil slumps on oversupply fears, trade talk concerns
Oil fell more than $1 a barrel on Tuesday on concerns about excess global crude supply and limited progress toward resolving the U.S.-China trade dispute that has clouded the outlook for oil demand. Click here to read more from Reuters.
Saudi Aramco’s IPO is set to value the oil giant at up to $1.7 trillion
Saudi Arabia’s state oil giant could be valued at up to $1.7 trillion, according to a price range announced Sunday for its upcoming listing, less than the $2 trillion figure the kingdom’s crown prince had previously targeted. Click here to read more from CNBC.
Iraq’s Largest Oil Fields Threatened by Anti-Government Protests
Anti-government protests in Iraq continued Monday, with protesters blocking roads leading to five oil fields in the southern Iraqi province of Basra, which is home to the biggest oil fields and the key oil export terminal in OPEC’s second-largest producer. Click here to read more from Oilprice.com.
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