Oil prices fell on Monday as oversupply concerns continue to pressure prices, even as OPEC and its allies agreeing to cut production by 9.7 million barrels per day. The deal, which was finalized on Sunday after marathon discussions that spanned four days, is the single largest output cut in history.
Even though oil producers finally agreed to cut production by nearly 10 million bpd, the deal will fail to support oil prices in the coming weeks as the agreement, albeit historic, is falling short of the enormous demand destruction and expectations, according to Goldman Sachs.
The Tokyo Commodity Exchange (TOCOM) rubber contract slid on Monday, pressured by weaker Shanghai futures after cases of the new coronavirus in China rose and on fears that the pandemic has battered international demand.
KUCHING: Sarawak has decided to compliment the Malaysian Rubber Board (LGM) in its Rubber Production Incentive to rubber smallholders for better selling prices.
KUALA LUMPUR (April 13): Rubber glove manufacturers were among the top gainers on Bursa Malaysia this morning, with shares in Top Glove Corp Bhd and Hartalega Holdings Bhd reaching their respective all-time highs as demand for rubber gloves continues to advance worldwide amid the Covid-19 pandemic.
TOKYO (Reuters) - Commodity currencies slipped against their safe-haven rivals such as the dollar and yen on Monday as a record output cut agreed by OPEC and other oil producing nations failed to offset broader concerns about slumping global demand.