“Prince Abdulaziz [Bin Salman] remains ever-concerned — he’s unwilling to say that Covid is in the rear-view mirror. More likely than not, we’re looking at a Saudi rollover of their production cut.”

-Helima Croft, chief commodities strategist at RBC Capital Markets. The Saudi Energy Minister made clear that he wasn’t going to put his faith in predictions of a post-Covid rebound, saying he would only believe in the demand recovery “when I see it.” [Bloomberg]