Oil prices fall sharply, WTI down more than 8%

08:47, April 06, 2020

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  Oil prices fall sharply as top producers hold key talks

  File photoOil prices fell sharply Friday as top producers attempted to finalise a crucial agreement on output cuts in a bid to counter a collapse in prices due to the coronavirus pandemic.US benchmark West Texas Intermediate was down 9.3 percent at $22.76 a barrel while Brent, the international benchmark, slipped 4.1 percent to $31.48 a barrel.

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  The pandemic, falling oil prices and implications in the Middle East

  The Middle East, including oil producers in the Persian Gulf that are vulnerable to external economic ups and downs, will be one of the parts of the world to be hit hardest by the coming economic difficulties. This will have various long-term impacts on their domestic politics and external relations

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  OPEC daily basket price drops to 22.67 USD per barrel

  VIENNA, April 8 -- The Organization of the Petroleum Exporting Countries (OPEC) daily basket price dropped to 22. dollars a barrel on Tuesday, compared with 23.Also known as the OPEC reference basket of crude oil, the OPEC basket is a weighted average of oil prices from different OPEC members aroun