International Oil Prices Continue To Fall. Russian Presidential Press Secretary: Negative Oil Prices Are Not "The End Of The World"
Due to weak demand, the global oil market is seriously oversupply, bringing downward pressure on international oil prices. After the historic negative value of oil price 20, 21 and 22 oil prices continued to decline sharply.
In April 20th, the price of light crude oil sold in the US in April 20th was closed at a price of $-37.63 per barrel. In this regard, Russian President Putin's press secretary, No. 21, said that it is wrong to compare crude oil futures price collapse with actual oil prices. In addition, Russia has all the reserves needed to offset the impact of falling oil prices.
Russian presidential press secretary Per Skov: This is a speculative trading moment, which is related to the expiration of the futures contract for delivery in May, which should not be regarded as a harbinger of "doomsday".
21, international oil prices continued to fall. As of the end of the day, the New York Mercantile Exchange's light crude oil futures in June fell 43.37%, to $11.57 a barrel. London crude oil futures for June delivery fell 24.4% to $19.33 a barrel in June.
Following the sharp decline of the 21, the price of the futures contract for international crude oil contracts continued to decline in the 22 Asian trading session. As of 3:30 p.m. Beijing time at 3:30 p.m. 22, the price of light crude oil delivered by NZ in June was $11.48 a barrel, down 0.78% from the opening. The London Brent crude for June delivery is $17.70 per barrel.
Earlier, OPEC, which is OPEC, said on its social media that some member states' energy minister 21 convened an informal emergency telephone conference to discuss and discuss the market situation of the day before and how to deal with the oil price collapse. It is reported that some countries expressed their hope at the meeting to fulfill the agreement on production cuts reached by OPEC and non OPEC oil producers ahead of schedule, rather than the original plan to start from next month 1.
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