It’s actually an unintended Trojan horse for Russia and other oil producers. It gives them a respite for their current pains, and they will have a feeling that good times will be coming back. At the same time, fresh cash in shale drillers coffers will give the healthy ones of them another boost they will likely put to good use while the NOPEC competition sleeps. But a wake-up – there will be. And it will be even worse than before.
U.S. President Donald Trump's sanctions against Iran and Venezuela have inadvertently increased demand for a Russian brand of crude oil.