Crude is tumbling in Asian trade. Wont be surprising to see crude plumb new depths in the weeks to come. Could very well set the tone for more jobs on the chopping block.
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any market recovery will come on its own now. Saudis and arussians are toothless lions just making noises with now action.
Knee-Jerk Smack Talk. Carry on.
There was never going to be an agreement. This thing has been a charade to fool the dumb asstraders on Wall Street for a few months. Worked too.
As soon as the traders figure it out, the Saudis and Russians will announce a new " plan"
Going lower. Oil states will become welfare states.
Saudi behavior was not totally unexpected. So I am not convinced the impact from lack of price freeze agreement is going to be all that severe snd lasting. We will know this week.