On Thursday morning, Reuters reported, citing two unnamed OPEC sources, that differences between Riyadh and Moscow remain over the baseline and volumes for any oil cuts.
"We don't expect anything will be decided before the G-20 meeting," Schieldrop said, partly because the OPEC+ meeting had been "instigated" by President Donald Trump. The restrictions have created an unprecedented demand shock in energy markets, just as a price war broke out between powerhouse producers Saudi Arabia and Russia.
I don't understand. If oil prices are cheap, US oil sales zombie companies will go bankrupt, but American citizens can buy cheaper oil. Further it's good for other people around the world. Oil production companies that are not competitive are going to collapse.
“energy alliance” aka cartel
Hey look, a bunch of oligarchs and dictators decide that at a time of vast economic suffering that they need some extra cash. And Western 1%ers will cheer because it'll help the market. Briefly.
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