Global oil markets are getting what they need from OPEC+ – ZAWYA

Global oil markets are getting what they need from OPEC+ – ZAWYA

Global oil markets are getting what they need from OPEC+ | ZAWYA MENA Edition HomeMarketsCommoditiesArticleGlobal oil markets are getting what they need from OPEC+ It seems, in fact, that the world actually likes oil from Saudi Arabia and Russia “” and would like more of it    Oil pump with candle stick graph chart in the background. World Oil Industry. Image used for illustrative purposeHeadlines are currently screaming at readers: "Oil markets starved of essential Russian and Saudi barrels.“And yet, only a few weeks ago the world was awash with Saudi and Russian oil as global demand tanked because of the coronavirus disease (COVID-19) pandemic. The US president appealed to the two biggest producers to turn the taps off because it was hurting his own oil industry as the price fell into negative territory in April due to the historic oversupply.Oil storage tanks around the world were in danger of spilling over as more and more of the unwanted crude kept on being pumped, we were told.And yet, only a few weeks ago the world was awash with Saudi and Russian oil as global demand tanked because of the coronavirus disease (COVID-19) pandemic. The US president appealed to the two