Canadian Natural Resources Minister: Deeply concerned about global oil markets

Ross J Burland FXStreet

The Canadian Natural Resources Minister has expressed his concerns following today's rout in the oil market.

Key comments:

Deeply concerned about global oil markets situation, closely monitoring the situation.

Oil updates

The price of oil was under immense pressure on Monday in the US session. The price of the front-month oil contract just marked history, plunging about 300% to settle negative $37.63 a barrel.

As US oil prices turned negative on Monday for the first time in history, Saudi Arabia and other OPEC members are to consider cutting their oil output as soon as possible, rather than waiting until next month.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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