The First Victims Of The Oil Price War

As the oil price war and coronavirus pandemic rage on, it’s becoming increasingly clear that the energy market can remain choppy and irrational longer than entire nations can stay solvent.  Everybody is watching to see which of the leading protagonists between Saudi Arabia and Russia is going to be the first to blink as high supply and low demand threaten to overwhelm available storage facilities. Scores of oil-producing countries have adopted a raft of austerity measures and spending cuts as they attempt to outlive the biggest oil bust…