i just reread the news which basically states that Russia and Saudi will cut 10 million barrels per day from PRE CRISIS LEVELS; meaning prior to them having a fall out and increasing their supply. So indeed it’s not actually back to zero but a cut starting from their original un-inflated production rate. And an additional 5 million to be cut from other nations. So all in all it will be 15 million to be cut from production by OPEC and others. This done not even include the ones that have been bankrupt and small or independent companies who decided to cut on their own. Source is BBC news, all imo, gltah.
Ann: Business Update, page-166
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