OPEC and Russia

Wow, like two petulant children, Russia's refusal to back an additional 1.5 million barrels per day (bpd) of oil cuts until the end of 2020, in addition to rolling over existing cuts of 2.1 million bpd (3.6% of global supply) by OPEC+ results in what an extra 1.5% cut then sees oil fall over 30% on the news since. Saudi's throwing out their toys and not renewing existing agreements, cementing the decline. Absolute muppets. Exchanging a 3.5% volume tighten for a 30% drop in revenue when there is a demand shock at play.

Never as their been such a childish bickering with so much effect!