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Crude Crashes As Saudis Signal Intolerance To OPEC 'Partners' Cheating
11-29-2019, 12:30 PM,
#1
Crude Crashes As Saudis Signal Intolerance To OPEC 'Partners' Cheating
Crude Crashes As Saudis Signal Intolerance To OPEC 'Partners' Cheating

<span property="schema:name" class="field field--name-title field--type-string field--label-hidden">Crude Crashes As Saudis Signal Intolerance To OPEC 'Partners' Cheating</span>

<div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>WTI Crude is plunging this morning amid chatter that OPEC and allied crude producers are averse to deepening output cuts when they convene next week.</p>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/2019-11-29_8-09-28.jpg?itok=AytT_1Eg" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/2019-11-29_8-09-28.jpg?itok=AytT_1Eg"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-11-29_8-09-28.jpg?itok=miObDOmJ 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-11-29_8-09-28.jpg?itok=miObDOmJ 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-11-29_8-09-28.jpg?itok=miObDOmJ 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=miObDOmJ 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-11-29_8-09-28.jpg?itok=miObDOmJ 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-11-29_8-09-28.jpg?itok=AytT_1Eg 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="ac74ac74-887a-45ce-9f42-9ff4f78f5d60" data-responsive-image-style="inline_images" height="282" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-11-29_8-09-28.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Bloomberg reports that, according to people familiar with the kingdom’s thinking, <strong>Saudi Arabia probably will indicate it’s no longer willing to compensate for excessive production by other members of the cartel</strong>.</p>

<p>Additionally, the Tass news agency reported that Russia’s oil minister said it’d be better to postpone any new supply caps until April.</p>

<blockquote>
<p><strong>“The OPEC accord with Russia could be fraying a bit,” </strong>said John Kilduff, a partner at Again Capital.</p>

<p>“It undercuts and undermines everyone’s perception of the commitment.”</p>
</blockquote>

<p><a data-image-external-href="" data-image-href="/s3/files/inline-images/2019-11-29_8-12-35.jpg?itok=hDvCRAHW" data-link-option="0" href="https://www.zerohedge.com/s3/files/inline-images/2019-11-29_8-12-35.jpg?itok=hDvCRAHW"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-11-29_8-12-35.jpg?itok=gaP8cUAE 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-11-29_8-12-35.jpg?itok=gaP8cUAE 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-11-29_8-12-35.jpg?itok=gaP8cUAE 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-...k=gaP8cUAE 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-11-29_8-12-35.jpg?itok=gaP8cUAE 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-11-29_8-12-35.jpg?itok=hDvCRAHW 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="4175daf5-7a9f-4108-910e-f7527af73652" data-responsive-image-style="inline_images" height="281" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-11-29_8-12-35.jpg" alt="" typeof="foaf:Image" /></picture></a></p>

<p>Despite Friday’s slump, <strong>New York-traded futures were on track for the biggest monthly advance since June </strong>amid optimism the the U.S. and China are closing in on a trade accord.</p>
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<span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden">
<a href="https://www.zerohedge.com/users/tyler-durden">Tyler Durden</a>
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<span property="schema:dateCreated" content="2019-11-29T16:13:58+00:00" class="field field--name-created field--type-created field--label-hidden">Fri, 11/29/2019 - 11:13</span>

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