Oil in the United States plunges to $20, shown before the OPEC + deal.
The 10 million oil production reduction on the OPEC + agreement seems insufficient. It looks like it would be necessary to increase the oil reduction by 20 million barrels.
Meanwhile, due to a drop of -35% on the annual GDP in the US and Europe, both its economic outlook for the 2nd quarter is seemingly looking terrible. The US market went down while the Russian stocks fell to -5% and -7% on April 15.
Today, at 12:30 UTC, a report on US employment for the week will be released where new applications for benefits in the amount of 5-6 million are expected.
The number of infected cases of coronavirus in Russia already rose to 27 938. Today, there are 3,448 reported new confirmed cases, which is 13% of the total. Meanwhile, a slowdown in growth may have already begun in Moscow as they have reported 1,370 newly confirmed cases which is only 9% of the total cases. However, conclusions cannot be drawn in just a day. In addition, there is a suspicion that when sending some of the patients to Moscow (where there are not enough hospital beds), some of the patients are transferred to the statistics of the Moscow region.
