Oil prices plunge after OPEC+ deal collapses

Time:2020-03-09 09:04:10      Source:Xinhuanet.com
Oil prices plunged to multi-year lows on Friday after a deal between the Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, collapsed in Vienna.
 
The West Texas Intermediate (WTI) for April delivery decreased 4.62 U.S. dollars, or 10.07 percent, to settle at 41.28 dollars a barrel on the New York Mercantile Exchange.
 
Brent crude for May delivery fell 4.72 dollars, or 9.44 percent, to settle at 45.27 dollars a barrel on the London ICE Futures Exchange.
 
The meeting between OPEC and its partnering countries, known as OPEC+, concluded with no deal on additional production cuts on Friday.
 
On Thursday, OPEC recommended additional production cuts of 1.5 million barrels per day from the beginning of next month until the end of the year.
Index RMB/t DoD Basis Date
Datong 5500 700 0 ex-mine 05-04
Shuozhou 5200 680 0 FOR 05-04
Ordos 5500 700 0 ex-mine 05-04
Yulin 6200 780 0 ex-mine 05-04
Liulin Low-sulphur 900 0 ex-mine 05-04
Gujiao Low-sulphur 1770 -50 FOR 05-04
Xingtai Low-sulphur 2360 0 ex-Factory 05-04
Yangquan PCI 1280 -30 FOR 05-04
Index RMB/t WoW WoW% Date
Qinhuangdao 507.0 1.0 0.20 05-04
Caofeidian 541.0 9.0 1.69 05-04
Huanghua 216.9 12.4 6.06 05-04
Guangzhou 291.2 3.0 1.04 04-27
coastal 6PPs 1629.8 44.7 2.82 07-02
North Ports 2697.8 53.0 2.00 02-01
Yangtze River delta 1242.5 -74.7 -5.67 02-01
South Ports 2233.4 -216.0 -8.82 02-01
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