RE: Russia10 Mar 2020 12:51
lift up price is ~7-8$, budget priced in 42$. I believe they did not sign up to further cuts proposed by opec due to significantly longer lead time (to saudis) it takes to implement the production cuts. If oil remains ~30-35$ longer than May futures expiration the russians will take action. In my view this wasn't a stone wall rejection of any opec proposals.