Oil prices plunge over fears of oversupply

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Oil prices failed to rebound in early trading on Thursday after slumping the previous day. The price per barrel fell by 5% after a new report showed US reserves had hit a record high. Also today, we have the story of workers at a French factory who suggested working longer hours to save their jobs.

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Oil prices have been dropping like a stone despite OPEC’s best efforts to push them back up. Just four months ago the cartel struck a landmark deal with Non-members like Russia to cut production.
We interviewed Robin Mills from Dubai, who is the chief executive officer of Qamar Energy.

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3 thoughts on “Oil prices plunge over fears of oversupply”

  1. Unions and Management working together and cooperating can turn a factory profitable and secure the factory's jobs. Who knew?

  2. No surprise…. While the world is scrambling to create cheeper energie from renewable sources the US just drills more in the arctic and the gulf of mexico..

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