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Viewsroom

Viewsroom: Oil shock

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 12 March 2020

⏱️ 24 minutes

🧾️ Download transcript

Summary

A major rift between Saudi Arabia and Russia has sent oil prices plummeting just as the Covid-19 outbreak saps demand. The fallout is pummeling U.S. shale producers and calling traditional energy-security concepts into question. Plus, market fallout in Japan, China and India. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

The views expressed on this podcast are those of the participants, not of Roiders' News.

0:10.3

Welcome to the Views Room, a weekly podcast brought to you by Reuters Breaking Views.

0:14.7

I'm Jennifer Sabah.

0:15.9

By my side here in New York is Anthony Curry.

0:18.7

Hello, Anthony.

0:19.7

Hello.

0:20.1

And Anna Schamansky. Hi, Anna. Hello. And Anna Shamansky. Hi, Anna. Hello.

0:23.2

This week, we're going to talk about oil, including a major rift between Saudi Arabia's

0:28.3

crown prince Mohammed bin Salman and Russian President Vladimir Putin. Later in the program,

0:34.1

our Hong Kong-based colleague Robin Mack will lead a discussion with Pete Sweeney and Yuna Ghalani about the state of the economy in Japan, China, and India amidst

0:42.2

a viral outbreak and plunging crude prices.

0:45.8

Now let's talk about black gold.

0:47.6

Oil prices are down about a fifth, a startling drop that seemed to kick off with the skirmish

0:52.6

among major oil producers in Saudi Arabia and Russia.

0:57.0

Joining us from Dallas to help us sort through this mess is Lauren Silva Loughlin.

1:02.0

Howdy Lauren?

1:03.0

Hello.

1:04.0

So let's kick this off by either Antony or Lauren or both of you.

1:10.0

Please explain to me what happened late last week.

1:13.4

There was an OPEC meeting and then oil prices collapsed. What happened?

1:18.1

Yeah. Let's put some context on this. First of all, you've got all prices were coming down

1:22.9

anyway, right? So you've got weakened demand. You've got the coronavirus problems, weakening

...

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