Apr.12 — The world’s top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th, putting an end to the devastating price war between Saudi Arabia and Russia. John Paisie, president of Stratas Advisors, discusses how the agreement will affect affect prices and demand. He speaks with Haidi Stroud-Watts and Shery Ahn on “Bloomberg Daybreak: Australia.”
In This Story: Australia
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In This Story: Russia
Russia spans more than one-eighth of the Earth’s inhabited land area, stretching eleven time zones, and bordering 16 sovereign nations. Moscow is the country’s capital.
The Soviet Union was dissolved in 1991 and since 1993 Russia been governed as a federal semi-presidential republic. Russia is a major great power, with the world’s second-most powerful military, and the fourth-highest military expenditure. As a recognised nuclear-weapon state, the country possesses the world’s largest stockpile of nuclear weapons.
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In This Story: Saudi Arabia
Saudi Arabia also has one of the world’s youngest populations, with approximately 50 percent of its population of 34.2 million being under 25 years old.