How likely is an agreement?
Forty traders and analysts surveyed by Bloomberg this week were evenly split on whether there will be a deal. While Russia’s Energy Ministry is “optimistic” and Qatar’s has a “positive feeling,” Saudi Arabia has said it will only cap its output if Iran follows suit -- a notion Tehran has dismissed as “ridiculous.” What impact would a freeze have on oil prices?
Crude has rallied more than 30 percent to above $40 a barrel since the preliminary freeze accord in mid-February prompted a shift in market sentiment. A final accord could lock that gain in place, or even extend it to $50, said Bank of America Corp. Yet a freeze will do little to mop up the glut because Saudi Arabia and Russia -- the world’s biggest crude producers -- are already pumping near record levels. Morgan Stanley said “our downbeat oil view is unchanged” by the prospects of a freeze.
《彭博》Saudi Prince Reiterates Oil Freeze Depends on Others Joining
没伊朗行吗?谣言说沙俄已默许,行。果真吗?
最新报告:出自沙特主管经济的阿勒沙特王子(Prince Mohammed bin Salman)之口:
“If all major producers don’t freeze production, we will not freeze production,”
“If we don’t freeze, then we will sell at any opportunity we get.”
“If prices went up to $60 or $70, that would be a strong factor to push forward the wheel of development,” Prince Mohammed said. “But this battle is not my battle. It’s the battle of others who are suffering from low oil prices.” “we have our own programs that don’t need high oil prices.”