The historic oil price crash from last month could lead to as many as 50 million job losses globally in the oil refining and retail industry, Reuters quoted the head of the International Energy Agency (IEA) as saying on Friday. The oil price collapse is bad for consumers, too, IEA’s Executive Director Fatih Birol said. Also on Friday, Birol said that he had held a call with Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, during which the two “shared our concerns over the situation in global oil markets.” “I conveyed my hope that at this critical juncture, Saudi Arabia can once again play a stabilising role, via its G20 Presidency,” Birol tweeted on Friday, a day after Saudi Arabia called for an emergency meeting of OPEC+ producers and an additional group of producers to seek solutions to the price crash and the growing global glut. The video meeting […]

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