"If The Fool persists in his Folly he will become wise." - William Blake
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The OPEC+ break-up: It’s not you, it’s me
It was a risky move from OPEC, and it clearly was a gamble that did not pay off. Following the conclusion of the OPEC ministerial meeting on Thursday, the group agreed to recommend to the wider OPEC+ group additional cuts of 1.5MMbbls/d through until the end of 2020, whilst also extending current cuts of 2.1MMbbls/d through until year-end. The key was to ensure that Russia was on board. The outcome of the wider meeting on Friday was pretty clear - no deal. Russia was not willing to cut any more, and starting on the 1 April, members would be free to pump as much as they wanted. ICE Brent settled almost 10% lower on ... (full story)
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Confucius: the man who broke the mountain was the same man who started ...
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