Saudi Arabia says that voluntary cut will be gradually tapered starting in April | Forexlive

The good news here is that they’re not bringing back the barrels all at once, the bad news is that barrels are definitely coming in Q2.

Update: Russia says its 500k bpd voluntary cut will extend until the end of Q1, which is up from 300k bpd.

I think there’s some logic in bringing back the oil in Q2 because that’s when driving season picks up and demand should rise but it will be a delicate balancing act. OPEC will surely be hoping that the threat of OPEC production coming back keeps US producers from drilling.