First signs of the bear blinking? I don’t buy the story that Russia can take this for a long time. Patience and a wait-and-see attitude usually blows off some safety valves pretty quick. We are in quarantine now – let’s wait this one out too.
Russia doesn’t plan to increase crude production given the huge oversupply in the global market, according to a government official, a potentially dovish signal in the price war with Saudi Arabia.