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‘Buenos Aires, Not Vienna’: Oil Traders Brace As G20 Seen More Critical Than OPEC Gathering
You don't have to be a political scientist or an oil trader to understand that when it comes to when and where the decision on production cuts will be made, the answer isn't "next week in Vienna", it's "this weekend in Buenos Aires".
Both Vladimir Putin and Crown Prince Mohammed bin Salman will be town for the G20 and hopefully, they left their novichok and bone saws in Moscow and Riyadh, respectively.
That's who will make the decision on what OPEC+ will or won't do when the cartel and allied
One tidbit of good news re the G-20 is that it has just been reported that Trump has cancelled his planned meeting with Putin at the G-20. Maybe Nicki Haley finally got through to our ‘stable genius’ that Russian escalation offshore Crimea really matters or, more likely, Trump is ‘miffed’ that Putin is agreeing with the Saudi’s notion to cut oil production to stabilize oil prices and avoid a near term oil price crash (for which Trump would have taken credit).