It’s about that time again. WTI hits $70 per barrel and the tweet-rage is back.
There are no clear solutions for OPEC+ that leave the oil market satisfied while also maintaining group cohesion.
It amounts to a sort of co-presidency between Riyadh and Moscow, the two largest producers within the OPEC+ group, but it certainly will diminish group cohesion. “They are sacrificing OPEC, they are destroying OPEC and slowly, slowly, without directly saying so, they want to gather some names together to create a forum to replace OPEC and manage the market,” Zanganeh said.