ICYMI – Oil analyst says OPEC would intervene if oil prices dropped substantially | Forexlive

A snippet overnight from Helima Croft, chief commodities strategist at RBC. Unsurprisingly says that OPEC would intervene if oil prices dropped substantially.

Also had comments on Saudi – US relations:

• Saudi Arabia is becoming less closely aligned with the US
• Saudis believe that the US makes lot of oil-policy requests
• Saudis will not always be the US side
• Saudis are prepared to front up to the consequences of disagreement with the US

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I wonder how much more downside is needed for further action from OPEC to try to support the price: