Skyfall

摘要

The long-awaited OPEC+ meeting in Vienna on Match 6 ended with no agreement for deeper cuts to accommodate the falling oil demand and price destruction caused by breakout of the coronavirus(COVID-19)worldwide.The group’s Joint Technical Committee had proposed an additional 1.5MM b/d on the top of OPEC+’s currendy-pledged 2.1MM-b/d reduction,which will expire at the end of March.Helima Croft of RBC Capital Markets said,”OPEC and Russia are staring into the abyss.It could spell the end of the llussia-Saudi alliance,but it is not clear what Moscow gains from deciding to burn down the house.”