• Advertise
  • Contact
GFH News
Ecobank Super Rewards
  • Home
  • Economy
  • Politics
  • Others
    • Security
    • Health
    • Metro/General News
    • Crime
    • Law/Judiciary
    • Entertainment
  • Contact
No Result
View All Result
  • Home
  • Economy
  • Politics
  • Others
    • Security
    • Health
    • Metro/General News
    • Crime
    • Law/Judiciary
    • Entertainment
  • Contact
No Result
View All Result
GFH News
No Result
View All Result
Home Foreign

Trump says U.S. states will be cutting oil production

gfhnews.com by gfhnews.com
April 25, 2020
in Foreign, Oil&gas
0
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

U.S. President Donald Trump says Texas, Oklahoma, and North Dakota are going to cut their oil production, without giving specifics on numbers, amid a glut in energy supplies and shortages of storage that led to massive drops in prices on the market.

“They gotta cut,” Trump said, speaking to reporters at the White House.

He also said Canada would make cuts.

“I want to help that industry,” Trump said, calling himself an “energy person.”

He described the cuts as a “natural” evolution, responding to the market.

The benchmark U.S. oil price, West Texas Intermediate (WTI), plummeted to an unprecedented minus 37 dollars at the end of Monday’s session.

Oil regained some of its losses, but prices remain suppressed, raising concerns for the U.S. industry, which may not be able to survive if the value of their products remains low for a sustained period of time.

The combination of a Saudi-Russian price war and the coronavirus pandemic-induced economic slowdown in the past two months led to a sharp decline in the cost of a barrel.

The storage issue is important for U.S. crude, as those contracts entail physical delivery.

Earlier this month, OPEC+ countries agreed to cut production by 9.7 million barrels per day for May and June.

The Texas Railroad Commission met this week but did not make any decision on production cuts, setting the next meeting of the regulator for May 5.

Previous Post

Tunisia reports 4 new confirmed COVID-19 cases, 922 in total

Next Post

French state to back up Air France with 7bn euros of loans

gfhnews.com

gfhnews.com

Next Post

French state to back up Air France with 7bn euros of loans

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • 116 Followers
  • 174k Subscribers
  • 23.6k Followers
  • 99 Subscribers
  • Trending
  • Comments
  • Latest
Nnamdi Kanu’s trial: Isi Agu cannot be worn in my court – Justice Nyako

Nnamdi Kanu’s trial: Isi Agu cannot be worn in my court – Justice Nyako

February 16, 2022
Army Chief  urges Reps to direct further enquiries on arms deals to past chiefs

BREAKING: Nigeria’s chief of army staff Ibrahim Attahiru killed in plane crash

May 21, 2021

VIDEO: Mazi Nnamdi Kanu having good times with girl who trapped him

June 30, 2021
Breaking: Farouk Lawan bags 7 years jail term for demanding $3m bribe from Femi Otedola

Breaking: Farouk Lawan bags 7 years jail term for demanding $3m bribe from Femi Otedola

June 22, 2021
Emir of Borgu charges Nigerians to be good ambassadors

Emir of Borgu charges Nigerians to be good ambassadors

3
Merck Foundation `More Than a Mother’ campaign against infertility, stigmatization – President

Merck Foundation to celebrate, mentor 2020 winners of More Than A Mother’ FASHION Awards – CEO

2
Infertility is a shared responsibility, couples should work together – Merck Foundation CEO

Infertility is a shared responsibility, couples should work together – Merck Foundation CEO

2
Lead-Em Ambassadors celebrate 2021 International Youth Day

Lead-Em Ambassadors celebrate 2021 International Youth Day

1
More Family Moments on GOtv as ‘Dance Naija Dance’ Premieres

More Family Moments on GOtv as ‘Dance Naija Dance’ Premieres

August 7, 2022

Borno Police arrest woman with three abducted children

August 6, 2022
Reno Omokri slams Keyamo for saying Peter Obi has more experience than Atiku

Reno Omokri slams Keyamo for saying Peter Obi has more experience than Atiku

August 6, 2022

7 Must-Watch programmes to Catch up on this Week on GOtv!

August 6, 2022

Recent News

More Family Moments on GOtv as ‘Dance Naija Dance’ Premieres

More Family Moments on GOtv as ‘Dance Naija Dance’ Premieres

August 7, 2022

Borno Police arrest woman with three abducted children

August 6, 2022
Reno Omokri slams Keyamo for saying Peter Obi has more experience than Atiku

Reno Omokri slams Keyamo for saying Peter Obi has more experience than Atiku

August 6, 2022

7 Must-Watch programmes to Catch up on this Week on GOtv!

August 6, 2022

GFH News is a Nigeria based online news platform that gives news on the go. Our team gather news from different sectors, locally and internationally, with fact checks.
Get the news as it breaks.

Browse by Category

  • Agriculture
  • Banking
  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Environment
  • FACT CHECK
  • Feature
  • Foreign
  • Health
  • Infrastructure
  • Labour
  • Law/Judiciary
  • Metro/General News
  • Oil&gas
  • Politics
  • Religion
  • Science
  • Security
  • Sports
  • Technology
  • Tourism
  • Tragedy
  • Uncategorized
  • work

Recent News

More Family Moments on GOtv as ‘Dance Naija Dance’ Premieres

More Family Moments on GOtv as ‘Dance Naija Dance’ Premieres

August 7, 2022

Borno Police arrest woman with three abducted children

August 6, 2022
  • Advertise
  • Contact

© 2020 GFH News

No Result
View All Result

© 2020 GFH News