[DrProtic]

I see this as a temporary action to contain oil prices, orchestrated by the US.

I expect UAE to send signals that they will increase production considerably once situation allows.

Whenever oil prices surge or 10Y yield touches 4.4% we get some action to contain them.

[JumpCrisscross]

> I see this as a temporary action

Unlikely. Out of OPEC’s twelve members [1], one is controlled by Trump, one—the third largest—is bombing the UAE and the other—the absolute largest—is on the other side of every proxy war the Emirates are invested in. As a multi-lateral organization it’s about as fucked as BRICS.

[1] https://en.wikipedia.org/wiki/OPEC

[caminante]

The cartel can't even self police. These are like climate pledges.

> since the 1980s [OPEC] largely failed to achieve its goals [...]

> members have cheated on 96% of their commitments.

> One large reason for the frequent cheating is that OPEC does not punish members