Oil price crunch could be bad news for Russia

April 2, 2020/in /by Rudolf Huber

I did not know about the blending issue when I made my early remarks on the oil war but when the drop started I knew that Russia was in trouble. Add to that that I have a feeling the Saudis are flooding the market with oil from the giant tank farms amplifying them and transferring into the world’s reserve storage capacity. It’s filling it up to the brim until the moment when the market can’t take any more crude and price crash once more, they have empty storage to balance the imbalance for themselves and watch Russia fight the demons it helped unleash. My 2 cents – let’s see what really happens.

Letter: Oil price crunch could be bad news for Russia

From Andrei V Belyi, University of Eastern Finland

www.ft.com

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