Published in the Financial Post
The pact would have little impact on prices as the countries are freezing, not cutting, output, said Omar Al-Ubaydli, a Bahrain-based analyst.
“All the Saudis are doing is showing the world, and their internal constituents, that the rest of the world can not be trusted and, sure enough, Iran didn’t waste any time,” said Al-Ubaydli, a senior affiliated research fellow with the Arlington-based George Mason University.
A few months from now, look for Russian President Vladimir Putin to claim he can’t control Russian oil firms as they are private companies. Continue
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