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Crude benchmarks could fall by a further $5 to $10, analyst says
The country's fiscal deficit is expected to balloon to more than 5% of GDP in 2020
West Texas Intermediate price fell to its lowest level since 2002 on Wednesday
The Washington-based institute expects a recovery in global consumption during the third and fourth quarters
Opec+ is expected to cut 9.7m bpd in May and June while contributions from the G20 are voluntary
Narrativa, which has an office in Abu Dhabi, plans to raise $5m over the next few weeks
Producers who are not part of the Opec+ alliance could cut as much as 5m bpd, according to Russia's energy minister
US President Donald Trump held talks with his Russian and Saudi counterparts late on Thursday
Oil prices have fallen to 70 per cent of their value from their most recent peak in January
The current oversupply is set to add a further 1.3 billion barrels to global oil stocks, potentially exhausting global storage capacity by May
Russia said it could trim as much as 15% of its current output
Oil demand fell due to a 76-day lockdown in China and Russia's reluctance to agree to deeper cuts, which led to the collapse of the Opec+ pact
The group will look at measures to 'alleviate the impact of Covid-19' on the oil markets
The US is likely to discuss the oil markets at a meeting of G20 energy ministers on Friday
Iraq, Opec's second-largest producer, said a future pact should include those outside the alliance such as producers in the US, Canada and Norway
