Why A 15 Million Barrel Per Day Cut Will Never Happen

Why A 15 Million Barrel Per Day Cut Will Never Happen

OilPrice.com

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Oil prices exploded on Thursday morning after US President Trump tweeted that he spoke with Saudi Crown Prince Mohammed bin Salman about a potentially ‘huge’ output cut.  According to Trump, the production cut from Saudi Arabia and Russia could be as high as 15 million bpd.  For anyone wondering why oil prices just spiked by over 25%... https://t.co/xjkfxOAaoS — OilPrice.com (@OilandEnergy) April 2, 2020 The reality, however, is very different.  Earlier this morning, Dmitry Peskov, spokesman of Russian President…

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