OPEC+ Rumors Send Oil Prices Diving

While there was a lot of uncertainty about the OPEC+ meeting, this headline (from Bloomberg) was not one of them… *SAUDI ARABIA MULLS RESIGNING ROLE AS CO-CHAIR OF OPEC+ JMMC The reaction in crude prices was insta-selling, pushing WTI back below $45…While the headline is unclear, it strongly suggests that the discord within OPEC+ is far greater than was believed; and the fact that it is only these relationships that are holding the entire energy complex up in the face of lockdown-inducing demand slumps is worrisome. The move is likely simply‚Ķ