OPEC++ may have reached today a commitment to cut 10 million bpd of oil production in both May and June, but oil prices reacted poorly to the largest production cut in OPEC’s history, as it had hoped for a larger cut.
BEIJING, April 9 (Xinhua) -- China's automobile sector will remain stable and positive in the long term despite the decline in auto sales during the past two years, an official with China's top economic planner said Thursday.
China’s March car sales fell 40.8 per cent from a year earlier to 1.08 million units, the China Passenger Car Association said on Thursday, as efforts to curb the coronavirus pandemic in the country weakened economic activity.
BEIJING, April 9 (Xinhua) -- China's passenger car market saw a strong month-on-month rebound in March as business resumption gained momentum amid further containment of the novel coronavirus disease (COVID-19) epidemic.
China's March passenger car sales fell 41% Y/Y in March to 1.08M units, according to data released by the China Passenger Car Association. The sharp drop wasn't surprising amid the efforts to control the COVID-19 outbreak.
The price of a West Texas Intermediate barrel of oil shot up on Wednesday afternoon by nearly 7% shortly after OPEC’s President gave the market fresh optimism about tomorrow’s virtual OPEC++ meeting.