Trump and Xi will meet this Friday at the G20 summit to discuss the possibility of settling their dispute and putting an end to the on-going trade war. While it would be overly optimistic to expect the meeting to reverse the current economic downturn, it may well produce the positive sentiment required to halt the downward trend. Downside risks for oil prices due to the trade war remain undoubtedly high, with some commentators projecting $30 a barrel in the future.

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