Crude Slides After Russia Warns Of Production Increase: “Was Never Ready To Cut Output”

by Tyler Durden
ZeroHedge.com
04/20/2016

Perhaps upset at the weekend’s development, Russia has decided to rattle the global crude complex cage. Amid hopes of a freeze, Russia’s energy minister Alexander Novak has reversed course and stated that Russia could “in theory” increase oil output and “was never ready to cut production.” It appears things are rapidly breaking down between Russia and The Kingdom – which perhaps explains Obama’s rapidly arranged trip to kiss the ring in Riyadh.

The Rest…HERE

This entry was posted on Wednesday, April 20th, 2016 at 10:48 am and is filed under Economics, Oil, Russia. You can follow any responses to this entry through the RSS 2.0 feed.