Commenting on the latest developments surrounding the oil market, “playing Russian roulette in oil markets may well have grave consequences,” noted International Energy Agency’s (IEA) chief Birol on Monday. “Oil prices below $25 per barrel would lead to a stop in new US shale developments,” Birol added. “We would like to see oil companies’ commitments to energy transition maintained despite tough market conditions. Regarding the impact of the coronavirus outbreak on the energy demand, Birol said that there was potential for an oil overhang of 3.5 million barrels per day in the first quarter. WTI selloff continues As of writing, the barrel of West Texas Intermediate was down 22.1% on the day at $32.20. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD recedes from 2020 highs near 1.1500 FX Street 2 years Commenting on the latest developments surrounding the oil market, "playing Russian roulette in oil markets may well have grave consequences," noted International Energy Agency's (IEA) chief Birol on Monday. "Oil prices below $25 per barrel would lead to a stop in new US shale developments," Birol added. "We would like to see oil companies' commitments to energy transition maintained despite tough market conditions. Regarding the impact of the coronavirus outbreak on the energy demand, Birol said that there was potential for an oil overhang of 3.5 million barrels per day in the first quarter. WTI selloff continues As of writing, the barrel… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
