Brent crude LCoc1 fell more than $3 when Asian markets opened but recovered some ground with traders hopeful that a deal between the top producers was still within reach.
“Perhaps it is best that the meeting was delayed for producers to cement a minimum of common ground before the actual discussions take place on Thursday,” said BNP Paribas analyst Harry Tchilinguirian, although he said initial disappointment at the delay had driven down prices in Asian business. But Rystad Energy’s head of oil markets Bjornar Tonhaugen said even if the group agree to cut up to 15 million bpd, “it will only be enough to scratch the surface of the more than 23 million bpd supply overhang predicted for April 2020.”
Yeeepy💞
old news
OIL Secular View shows the TRUTH...
Regardless of the hype and pundits, current supply and pricing hurts every producer in a big way. This isn’t a game of chicken, it’s a test of pain tolerance. Russia will fold.
Microsoff powershell are out of order.
Don't be fooled they will go back up.
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Ratcheting up the tension, Saudi Arabia admonishes Russia over oil price collapseSaudi Arabia has sharply criticized Russia over what it describes as Moscow blaming the kingdom for the collapse in global energy prices. Aw, duplicitous powers calling out duplicitous powers. How quaint. все пучком)
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OPEC+ meeting delayed as Saudi Arabia and Russia row over price collapseOPEC and Russia have postponed a meeting planned for Monday until later next week, OPEC sources said on Saturday, as a row intensified between Moscow and Saudi Arabia over who is to blame for plunging oil prices. Some oil exporters will suffer from economic crisis and still gas at the pump is $3+/gal in some places, it's insanity Hard to give a shit about these assholes having an oil surplus and low prices.
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