Coronavirus may be upending the rules of the global oil game [CNNMoney.com]
Constellation Brands, Inc. (STZ)
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Source: CNNMoney.com
Coronavirus may be upending the rules of the global oil game A version of this story first appeared in CNN Business' Before the Bell newsletter. Not a subscriber? You can sign up right here . London (CNN Business) President Donald Trump set off a record spike for US crude futures on Thursday with a tweet saying he expected Russia and Saudi Arabia to cut production by as much as 15 million barrels per day. US oil prices soared before closing with a record single-day record gain of 25%. Why such enthusiasm? Russia and Saudi Arabia are locked in a brutal price war, and coordinated production cuts could soak up excess supply and boost prices. Trump, who needs prices to rise significantly to prevent a wave of bankruptcies among US shale producers, got what he wanted. But there were reasons to question the veracity of what the president tweeted. Problem 1: Trump said he had just spoken to his friend, the crown prince of Saudi Arabia, who had spoken to Russian President Vladimir
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STZ
Earnings
- 4/11/24 - Beat
STZ
Sec Filings
- 4/23/24 - Form 4
- 4/23/24 - Form 10-K
- 4/19/24 - Form 144
- STZ's page on the SEC website