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Se cala ancora Putin resta al verde

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Rock in the Russia


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Saudi Arabia: we "can handle a prolonged period of low [oil] prices" (according to Reuters).

If true, this is good news for us and very bad news for Russia.

Saudi officials are informing allies and industry experts that the kingdom does not intend to support the oil market with further supply cuts and is ready for a prolonged period of low prices, Reuters reports, citing sources.

This potential change in Saudi policy could indicate an intention to increase production and expand market share – a significant change after five years of efforts to balance the market by deeply cutting production as the leader of the OPEC+ group of oil-producing countries.
 

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