Russia, Saudi Arabia will likely settle differences, make deal on oil production

The Nation | Apr 2, 2020 at 4:51 AM
  • US President Donald Trump said on Wednesday he expected Russia and Saudi Arabia to soon settle their feud over oil production.
  • Oil prices, already historically low, plummeted to prices not seen in decades.
  • The Financial Times on Wednesday hailed Saudi Arabia’s gamble as a “game theory masterstroke,” noting that once prices begin to rise again, it will force the “competing fringe of higher-cost producers” to shell out money on more efficient extraction methods.