Two weeks ago, the movers and shakers in the oil-producing universe tried to convince the world they were on the cusp of a truly significant agreement that would slow the financial hemorrhaging of the market. Instead, they delivered nothing more than a slight ripple in a growing, fetid pond. The Saudis with deep pockets and untold cash reserves were able to claim that OPEC discipline had triumphed over Russian cockiness and Putin’s ill-advised scheme to free ride on OPEC without abiding by the rules. Moscow believes it got a win by bringing the United States to the table and forcing …read more
Source:: The American Interest
