Oil Slips Despite Historic Production Cut Deal, While Business Questions Draconian Virus Measures

If we factor in cheating by the participants we will come out with 8 mm bpd for May and June, 6mm bpd until 2020 end and 4mm bpd thereafter in 2021. The pain gets worse on all oil producers and especially so for those that depend on oil revenue for the biggest part of their income. What’s more important? Your oil quota or the people asking for your head when you need to cut back social programs?

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