Oil Producers Frozen With Fear

February 16, 2016 4:17 PM

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If Russia is, as Winston Churchill said, "a riddle wrapped in a mystery inside an enigma," then what to make of the motivations of its proposed oil freeze with cryptic frenemy, Saudi Arabia? The image that springs to mind is taking the enigma, locking it in a safe, shoving that in the trunk of a car and driving the thing off a cliff into the sea.

Which may actually be the best thing that can be said of it, at least from the perspective of oil bulls.

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