The United States' reluctance to join an oil production cut agreement is the "only problem potentially" in the quest to end the ongoing Russia-Saudi Arabia price war, says Kirill Tachennikov of BCS Global Markets. However, he says that oil output reductions are inevitable as low prices and demand will force the U.S. to scale back on production anyway.
US positioning on output cuts remains 'only problem potentially' for oil price war: Analyst
The United States' reluctance to join an oil production cut agreement is the "only problem potentially" in the quest to end the ongoing Russia-Saudi Arabia price war, says Kirill Tachennikov of BCS Global Markets. However, he says that oil output reductions are inevitable as low prices and demand will force the U.S. to scale back on production anyway.
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