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Viewsroom

Viewsroom: The F’d up oil market

Viewsroom

Reuters

News

4.458 Ratings

🗓️ 23 April 2020

⏱️ 39 minutes

🧾️ Download transcript

Summary

Breakingviews columnists in London, Mumbai and Brooklyn discuss what’s going on in the global energy markets amid the coronavirus crisis, as well as Facebook’s big Indian deal and the U.S. government’s attempt to prop up small businesses with the Paycheck Protection Program. 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 Reuters' news.

0:10.1

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

0:14.6

I'm Rob Cox, coming to you from my home in Zurich, Switzerland.

0:17.7

This week, we will board the magic carpet and visit Bombay, Brooklyn, and London

0:22.4

to visit with three breaking views columnists. First up is Yunegalani, our India editor, to discuss

0:28.0

that rare commodity of the COVID-19 era, a multi-billion dollar cross-border deal. That would be

0:33.9

Facebook's purchase of a near $6 billion stake in Reliance industry's digital arm.

0:39.2

Not only is it a rare deal, it comes as India is reassessing the sources of foreign direct investment.

0:45.5

That's code for basically asking whether it wants Chinese capital.

0:49.4

Next, we're going to visit with George Hay, who's been writing about all the weird shizzle taking

0:53.5

place in the global

0:54.4

oil markets. West Texas crude went to negative territory earlier in the week. That's weird.

0:59.4

It's a fluke. But the outlook for crude, what it means for producers, global economies, and geopolitics

1:04.7

is a huge matter for the world. Finally, Anna Schumansky and I will discuss the U.S.

1:09.3

Treasury's Paycheck Protection Program, the PPP, which is a scheme to help small businesses continue to pay workers during the coronavirus lockdowns.

1:19.5

The original slug of $349 billion went quickly and not without a bit of controversy.

1:25.7

Anna and I discussed where the next $320 billion, which was appropriated by Congress this week,

1:30.0

will flow.

1:31.2

Happy listening.

1:33.8

Hello, Mumbai. Hi, you, Nicalani. How are things in India?

1:38.6

Lockdown, lovely.

1:41.4

People really are abiding by the rules still in Mumbai. Is that right? Yeah, I mean, it's a bit mixed,

...

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