![A pumpjack is silhouetted as it operates in Baku, Azerbaijan, on Sunday, March 18, 2018. Two years after descending into junk, Azerbaijan's shortest path to winning back its investment grade is by rebuilding the stash of petrodollars it raided during a recession and a banking meltdown, according to Fitch Ratings. Photograph: Taylor Weidman/Bloomberg](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/5OOQVPT6LW6ZYYSQUV7W5VLV2Q.jpg?smart=true&auth=5aa53e4a998123f1ab6f268c301acf395bbcbbfdb29f57eee0bcb72976dfcfe2&width=400&height=225)
The Gulf's energy ministers reiterated their commitment to supply cuts in an effort "to further speed up the oil market's rebalancing". Bloomberg
The Gulf's energy ministers reiterated their commitment to supply cuts in an effort "to further speed up the oil market's rebalancing". Bloomberg
Oil slips to lowest level since 2002 as economies brace for recession
High-cost shale producers 'are in trouble' if prices remain low, says analyst