Oil Shorts On Notice After Russia, Saudis Agree To “Cooperate Closely” To Keep Energy Market Stable

Zero Hedge | Oct 17, 2020 at 2:00 AM
  • With the price of Brent crude trading in a narrow – and low – range since the covid crisis, now that we live in a work from home world where demand for gasoline, oil and energy is far less than before March…
  • The two leaders spoke “extensively” about the OPEC+ cooperation “continuing an Oct. 13 conversation during which they reviewed efforts to balance supply and demand in the oil market and boost the global economy.”
  • The scenario, which is not the base case for the group, could materialize if Libya manages to revive supply and the pandemic hits demand harder than expected.