/biz/ - Business & Finance

>>17508194
>Saudis will cut production and will probably convince the Russians as well, opinions ?
That's the general feel at the moment, yeah. OPEC wanted to cut before all this which was why there is that hook in the oil chart from 50 to 54 before the markets started selling off and oil followed. Russia isn't steadfastly against cutting, they just prefer to wait to the last possible second to weigh in on a position as is their standard procedure. OPEC wanted to do an early meeting two weeks ago but Russia said nothing doing. Scheduled meeting is March 6th. We will all find out what's what then. For best chances of the oil price to rebound to low-mid 50's, the market should be crabby turbulent and not bleeding out straight down like this week. China getting their factories up to full capacity this month will also be bullish.