How can Russia and Saudi Arabia come to an agreement? The opinion of Khalil Amin
The unstable situation is caused because Saudi now are trying to increase production by almost 25%, two million barrel extra and they also provide a significant and hefty discount almost $10 a barrel to try to limit the sale of oil from Russian oil companies to the Far Eastern Europe because of this big discount obviously. So, it is not really good. My feeling is that the timing is not a good as well because of the coronavirus and its impact on both the human health as well as the economy. So you expect very likely if these two countries Russia and Saudis, if they don't come to their sense and figure out a way to negotiate an agreement to stabilise the oil price will see a more significant damage to both their economy and also to the economy of the world. So, I'm very hopeful that at the end of the day the OPEC led by Saudis and Russia will come to some kind of agreement to minimise the impact on their economy and also the world economy.