UAE Won't Join Oil Production Cuts For Now

The video from Hofberg Palace in Vienna discusses the Saudi's decision to cut oil production by 1 million barrels per day, with Russia promising to cut exports by 500,000 barrels. The Emiratis, however, choose not to join these cuts. The market implications include potential deficits in the second half of the year, which could stabilize oil prices despite a global manufacturing slowdown and recession. The report concludes with a sign-off from Manish Cranny for Bloomberg TV.

What is the impact of the global manufacturing slowdown on oil prices?

What did Manish Cranny report from the Hofberg Palace?