Saudis might end oil solidarity with Russia

RUSSIA / FSU POLITICS - In Brief 25 Feb 2020 by Alex Teddy
On February 20 the Wall Street Journal claimed that the Saudis are mulling whether to sever its oil production pact with Russia. The Russians have declined to reduce oil production in view of coronavirus. Russia is not in OPEC but is in OPEC+. Riyadh asked that production be cut by 600 000 bpd. Coronavirus has driven demand down. All Russian oil companies are against cutting production. It is possible OPEC+ might end if OPEC decides to significantly reduce production.

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