How is this deal going to be enforced? Will the US navy have the rights to sink ships with surplus oil above the agreed volumes? How to control whats delivered through pipelines to China. OPEC members have cheated in the past, OPEC+ record is even worse. Now a myriad of producers on the US side come in. Will Canada, Mexico, and China join in? Yes, China produces oil. If they stopped the price would go up. A deal is non-sensical. Trump needs stronger dope for this market.
The world’s largest oil producers are pressing ahead with talks for an unprecedented deal to mitigate the devastating impact of the coronavirus crisis on their industry, even as their leaders exchange barbs.