EU and OPEC+ Battles Continue

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Finance ministers in Europe failed to agree on meaningful stimulus measures once again to a point where the union’s Chief Scientist resigned. More uncertainty while the biggest European economies are forecasted to lose nearly 10% of their GDP isn’t spelling a good outlook going forward. All the while, Russia made it clear that the US’s participation in production cuts is mandatory for reaching an agreement with OPEC+, increasing global downside risks further.

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