Global economy needs stimulus for oil recovery: experts

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Wed, 2020-04-22 02:10

Saudi oil experts said that the global economy would need strong stimulus measures for oil prices to recover after a tumultuous start to the week.

It comes as US oil prices dropped into negative territory for the first time in history on Monday while Brent crude plunged by 21 percent in afternoon trade in London on Tuesday to about $20.

Saudi energy analysts said the dire headwinds facing the sector would drive a coordinated response from OPEC and non-OPEC producers.

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