Saudis Declare OPEC+ ‘Up And Alive’ After Mexican Standoff, But Demand Still ‘Down And Dead’

"We have demonstrated that OPEC+ is up and alive", Saudi Energy Minister Prince Abdulaziz bin Salman declared, in an interview with Bloomberg Sunday. After four agonizing days, the cartel and allied producers made official an agreement to curb production by a combined 9.7 million barrels per day, a shade less than the 10 million barrels tipped over the past week. Amusingly, Mexico never relented. The country will contribute just 100,000 barrels per day to the overall cut, far less than its "fa

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2 thoughts on “Saudis Declare OPEC+ ‘Up And Alive’ After Mexican Standoff, But Demand Still ‘Down And Dead’”

Interesting – in addition to bailing out at least the least leveraged Texas oilmen, this deal potentially bails out Goldman et al. Now I really understand why Trump was so keen to support this “illegal” (his word) cartel.

Goldman says it is historic and insufficient. No need to go fill the tank this evening consumers catch a break. No tariffs, instead seized short hairs still in the grasp.