Can Russia, Saudi Arabia strike new OPEC+ deal with US help?
As the OPEC+ deal has expired, Russia and Saudi Arabia remain at odds, though the United States offered encouraging words that production cuts might be negotiated.
The Russian-Saudi feud over oil production has destabilized the market even as the industry faces anemic demand and the potential for a legion of layoffs because of the coronavirus pandemic.
On the heels of plummeting prices, the market rallied April 2 after US President Donald Trump, perhaps prematurely, announced via Twitter that Saudi Arabia and Russia appeared ready to compromise on production cutbacks. But some analysts warned that the Saudis seemed "much more measured" in their statements.
