Balanced – how I like this word. A balanced market is a dead market. Why not be honest – if they could OPEC+ would love to charge us 1000 USD for every barrel. What do I say, 10.000 USD. We all have those moments – its called wishful thinking. I am no exception to this. But most of us have a pretty quick meeting with reality and we resign ourselves to what’s possible. Oh, oil buyers would much prefer to get the barrel for less than USD 10. 5 would be better. OPEC+ makes grand gestures but they do nothing but warm the air.
President Vladimir Putin said on Wednesday that Russia and OPEC have 'a common goal' of keeping the oil market balanced and predictable, and Moscow will continue cooperation under the global supply curbs deal.