Oil fell on Thursday, erasing some of the previous session's strong gains, ...
TOKYO - Oil fell on Thursday, erasing some of the previous session’s strong gains, as traders await the G20 summit in Japan and a meeting of OPEC and other oil producers to decide on an extension of output cuts.
However, traders said concerns that a hoped-for breakthrough on trade at the G20 may not eventuate and some nervousness about continued output cuts were crimping follow-through buying. Trump said on Wednesday that a deal was possible but also spoke of a Plan B that would involve reducing business ties with China.
The day after that OPEC members meet with other producers including Russia in a grouping known as OPEC+, which agreed in December to reduce supply by 1.2 million barrels per day from Jan. 1. The agreement is due to expire on June 30.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What’s the Difference Between Canola Oil and Vegetable Oil?What happens when you put these two popular oils head to head?
Read more »
Hong Kong activists crowdfund for anti-extradition bill voice at G20Hong Kong activists have raised more than HK$5 million ($640,500) in a crowdfund...
Read more »
Hong Kong protesters urge G20 to raise plight with ChinaHong Kong activists gathered outside US and EU consulates to deliver petitions on a legislation law that will allow suspects to be extradited to China, which protesters worry will expose people to unfair trials and possible torture.
Read more »
Turkish President Erdogan to visit China after G20 summit in JapanTurkey's President Recep Tayyip Erdogan to visit China, following G20 Summit in Japan, to ‘exchange views on a range of issues’ - Turkish Presidency Communications Director Fahrettin Altun
Read more »
G20 summit draft communique calls for promotion of free trade: mediaLeaders of the Group of 20 major economies will likely call for the 'promot...
Read more »