“Extensive pain from the oil price shock will accumulate over the course of 2020 and create the necessary conditions for negotiations, compromise, and probably a new production restraint agreement… but [Saudi Arabia’s] long term objective is to be the predominant market manager and price setter.”
-Risk consultancy The Eurasia Group in a research note. The group believes the price war between Riyadh and Moscow is likely to last throughout 2020. [cnbc.com]
