OPEC and Russia agree to extend cuts in oil production


This contributed to the collapse in oil prices in late April, as the US standard West Texas Intermediate crude fell into negative territory, while Brent crude, the international benchmark, briefly fell below $ 20 a barrel.

Traders anticipating a new deal, Brent crude oil and West Texas Intermediate oil rose nearly 6% on Friday, to $ 42.30 per barrel for Brent crude oil and to $ 39.55 per barrel for West Texas oil. The markets were closed on Saturday.

  • Updated June 5, 2020

    • How many people have lost their jobs due to coronavirus in the United States?

      The unemployment rate fell to 13.3% in May, the Department of Labor announced on June 5, an unexpected improvement in the country’s labor market, as hires rebounded faster than economists had expected. Economists had predicted that the unemployment rate would rise to 20%, after reaching 14.7% in April, the highest since the government began keeping official statistics after the Second World War. But the unemployment rate has plummeted, as employers added 2.5 million jobs after losing more than 20 million jobs in April.

    • Will the protests spark a second wave of coronavirus?

      Mass protests against police brutality that have brought thousands of people to the streets of US cities raise the specter of new coronavirus outbreaks, prompting political leaders, doctors and public health experts to warn that the crowd could cause an increase in cases. While many political leaders have asserted the right of protesters to speak out, they have urged protesters to wear face masks and maintain social distancing, both to protect themselves and to prevent the spread of the virus in the community . Some infectious disease experts have been reassured that the protests were held outdoors, saying that outdoor settings could reduce the risk of transmission.

    • How do we start exercising again without hurting ourselves after months of lockout?

      Exercise researchers and doctors have a few simple tips for those of us who want to start exercising regularly now: start slowly, then speed up your workouts, also slowly. American adults tended to be about 12% less active after the start of house arrest warrants than in March. But there are steps you can take to make it easier to get back to regular exercise safely. First, “start at no more than 50% of the exercise you did before Covid,” says Dr. Monica Rho, chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Also put on preparatory squats, she advises. “When you haven’t exercised, you lose muscle mass. Expect muscle aches after these preliminary sessions after the lockout, especially a day or two later. But sudden or increasing pain during exercise is a call to the bugle to stop and go home.

    • My condition reopens. Is it safe to go out?

      States are gradually reopening. This means that more public space is available and that more and more businesses are allowed to reopen. The federal government largely leaves the decision to the states, and some heads of state leave the decision to local authorities. Even if you are not told to stay at home, it is still a good idea to limit outdoor travel and your interaction with others.

    • What is the risk of catching a coronavirus from a surface?

      Touching contaminated objects and then getting infected with germs is usually not the way the virus spreads. But it can happen. A number of studies on influenza, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can be spread by touching contaminated surfaces, especially in places like daycares , offices and hospitals. But a long chain of events has to happen for the disease to spread this way. The best way to protect yourself from coronavirus – whether it’s surface transmission or close human contact – is social distance, washing your hands, not touching your face, and wearing masks.

    • What are the symptoms of coronavirus?

      Common symptoms include fever, dry cough, tiredness and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and blocked sinuses are less common. The C.D.C. also added chills, muscle aches, sore throat, headache and further loss of taste or smell as symptoms to watch for. Most people get sick five to seven days after exposure, but symptoms can appear in as little as two days or up to 14 days.

    • How can I protect myself while flying?

      If air travel is unavoidable, there are steps you can take to protect yourself. Most importantly, wash your hands often and stop touching your face. If possible, choose a window seat. Emory University study found that during flu season, the safest place to sit on a plane is near a window because people sitting on window seats have less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfectant wipes to clean the hard surfaces of your seat such as the headrest and armrests, the seat belt buckle, the remote control, the screen, the back seat pocket and tray table. If the seat is hard and non-porous or made of leather or leather, you can also wipe it down. (Using wipes on padded seats could lead to a wet seat and the spread of germs rather than killing them.)

    • Do I have to wear a mask?

      The C.D.C. recommended that all Americans wear cloth masks if they go out in public. This is a change in federal guidelines reflecting new concerns that the coronavirus is spread by infected people who have no symptoms. So far, the C.D.C., like the W.H.O., has advised ordinary people not to wear masks unless they are sick and coughing. Part of the reason was to preserve medical grade masks for healthcare workers who desperately need them at a time when they are in constant shortage. Masks are no substitute for hand washing and social distancing.

    • What should I do if I feel sick?

      If you have been exposed to, or think you may have, a coronavirus and have a fever or symptoms such as coughing or difficulty breathing, call a doctor. They should give you advice on whether you should get tested, how to do it, and how to get medical treatment without potentially infecting or exposing other people.

The shocking fall in prices coupled with pressure from President Trump, who was worried about job losses in the oil industry in the United States, led Riyadh and Moscow to suddenly change their approach and resume their cooperation.

The two oil giants have worked together to orchestrate the extension agreed on Saturday and have also pressured Iraq, the second largest producer of OPEC, to publicly declare that it will honor its commitment to cut production by about 1 million barrels per day. Analysts have estimated that Iraq misses the target of hundreds of thousands of barrels a day.

“Despite the economic and financial circumstances facing Iraq, the country remains committed to the agreement,” said Saturday in a statement issued by OPEC Assem Jihad, spokesman for the Iraqi Oil Ministry.

The Saudi minister emphasized this message.

“Each of the 23 countries represented here must be alert to any sign of turning back from their commitments,” he said at the second meeting. And he warned that production would be closely monitored.


Please enter your comment!
Please enter your name here