After surprising discipline by Opec members to hold to the cap, more oil is coming to the market. These latest prices, however, are well down on recent levels where Brent briefly broke through $80 and West Texas Intermediate nudged close to $73.
Investigation by Vanguard showed that the disagreement became obvious, following Saudi Arabia's lobbying of members to support its call for increased oil supply to the market. "OPEC is listening to consumers", Bob Dudley, the chief executive of BP Plc, said on the sidelines of the OPEC conference in Vienna . "We want to prevent the shortage and the squeeze that we saw in 2007-2008", Falih said, referring to a time when oil rallied close to $150 per barrel.
The Chinese government responded with same coin. World financial markets buckled after President Donald Trump ratcheted up the tensions by proposing a fresh batch of tariffs on Chinese products. The dollar-for-dollar retaliations are on imports of steel, aluminum, and other products from the Unites States, including a wide-spanning list of goods such as coffee, chocolate, condiments, toiletries, beer kegs, whiskies, various household items, and motorboats.
Pradhan said at an OPEC conference in Vienna . "I am sure we will come to consensus, and we will look back at this meeting as being equally important to the one we had in late 2016 when we made a decision to take that first action we took as 24 countries of restricting supply to bring stability back to the market ", he added.
Although Bithumb has yet to disclose which and how much cryptocurrency had been stolen, it said in the announcement that the loss will be covered by the platform. An earlier post on Bithumb's Twitter account reveals that it had announced that a database upgrade was being carried out as part of a security update late last week .
The trade dispute between the world's two largest economies escalated after Trump said in a statement late Monday that he had requested the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent.