Oil prices will rebound rather than extend their decline to as low as $20 a barrel because a collapse since June isn’t merited by global supply and demand, OPEC’s Secretary-General said.
“The price will not go to $20 or $25, I think the price will stay at where we are now,” El-Badri said. “We have seen this before -- prices coming down very fast and go up very slow. But prices will rebound.”
Petrobras plans $3.9 billion asset writedown for third quarter - Globo
Reuters UK-1 hour ago
RIO DE JANEIRO (Reuters) - Brazilian state-run oil company Petrobras will take a charge of about 10 billion reais ($3.9 billion) in its delayed ...