Analysts warn darkly that plunging prices may threaten global economic stability.
Saudi Arabia pumping 12.3 mbpd would result in oil prices collapsing to $15 level.
Saudi Arabia is now audaciously seeking a global deal to cut oil production.
Should history repeat itself, the current spike in the market would quickly wilt.
Oil left in the ground now is at risk of never being produced at all.
Oil markets are faced with a triple and not double whammy--Texas, Russia and OPEC.
So far in 2020, all the 14 components of this sector have lost at least 10 per cent value.
Out of 500 index stocks, 377 are now in positive since PM announced the lockdown.
Marks believes investors waiting on sidelines may keep themselves from making good purchases.
Few brokerages expect IT firms to report de-growth in FY21 dollar revenues for first ever time.
The sudden rise in share buyback offers this time has more to do with the market fall.
I think a lot about what money is worth and believe that it has no intrinsic value, says Dalio.
The stock currently trades at Rs 1,158, 28 per cent away from its 52-week high.
Select names from the pack may even outperform the broader market in the short term.
Travel bans globally and domestically have virtually paralysed the capital-intensive sector.
Investors should look at the history of 2008 crash where the same situation was playing out.
This is not the first time that Saudi Arabia has cast smaller Opec producers to the wolves.
As the shale industry tries to pick up the pieces after the Saudi-Russia war for market share hammered crude, some of those same producers are reliving the same costly mistake.
The oil market is now faced with two highly uncertain bearish shocks with the clear outcome of a sharp price sell-off.
OPEC+ is having a hard time responding to a black swan that threatens a repeat of the global financial crisis.
Gold rally is not yet finished, as many factors are still pointing towards a bullish trend.
Global demand of crude oil is affected by the virus and prices crashed in the last two months.
Reports suggest that Saudi Arabia is weighing to break its production alliance with Russia.
Oil demand growth is languishing, and the market will closely watch what Russia does next.
China’s own oil consumption is down sharply as factories stay closed and travel restrictions remain in place even after the extended Lunar New Year holiday comes to an end.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service