U.S. and Saudi Arabia Agree to Increase Oil Production to Balance Markets

King Salman bin Abdulaziz Al Saud on Saturday received a call from U.S. President Donald Trump and agreed on producing countries to compensate for any potential shortage of supplies. Trump tweeted that Saudi Arabia will add up to 2 million bpd.

Russia Consolidates Position as Number One Exporter To China For Crude Oil

Oil analysts speculate over OPEC capabilities, shale production and product demand in hopeful scenarios to satisfy a bullish investor environment. The reality is with the U.S. shale presence Russia and Saudi Arabia exports matter and Chinese oil refineries are the prize.