- Jan 19, 2010
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You just surpassed this thread for its stupidity.....nice one....Unbelievably stupid thread....
Coming from you, an authority on posting stupid comments, I paused, and then realized what you claim is stupid, lacks any response to prove anything of substance but one, you are a partisan hack.
For the record:
For the past month, Saudi Arabia had pumped every possible barrel for sale at rock-bottom prices, punishing Russia for refusing to support deeper OPEC+ output cuts in early March. Now, Moscow and Riyadh will both reduce daily production by millions of barrels, spearheading a global agreement between almost all the world’s major oil producers to rein in output.
But the deal will only dull the pain, not end the crisis.
The market is likely to remain overwhelmed for months to come by the catastrophic collapse in demand caused by the lockdowns designed to slow the spread of the coronavirus through some of the world’s biggest economies.
“The OPEC+ agreement will not prevent sharp inventory builds in coming months, and near-term oil prices in the physical market will likely remain under pressure,” said Martijn Rats, oil analyst at Morgan Stanley.
Trump’s oil deal: The inside story of how the Saudi-Russia price war ended
For the past month, Saudi Arabia has pumped every possible barrel for sale at rock-bottom prices, punishing Russia for refusing to support deeper OPEC+ output cuts in early March.fortune.com