RE:RE:One Analyst is projecting in 15 days Oil
Its not Saudis, Russians or OPEC+, its the virus. Oil demand down 20Mbpd in Q2 and 5Mbpd overall 2010. That's a 2B bbl overhang and OPEC+ hasn't even started to flood the market with crude - it takes 30 days for the tankers to deliver to world refineries. And, all the tankers are full with no bids by refineries as their tanks will be full in days.
With no bid, prices will go lower and everyone will have to shut-in until demand reduces the 2B bbl increased inventory. Look for a 2022 return to $60/bbl or higher.
And, Saudi has posted their OSP at -$12US/bbl Brent for Ural crude, i.e. that's $16US, not the published Brent price of $28 currently. They are killing Russia and the USA and Canada etc just to ensure a future for their oil.
They are also killing the renewables' price advantage whilst covid19 is killing the focus on global warming.