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El gráfico muestra productores de petróleo que extraen más de 1 millón de barriles diarios de petróleo.
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NEGOCIOS

¿Puede Arabia Saudí salvar la industria petrolera global?

By Duncan Mil

April 6, 2020 - Arabia Saudí y Rusia presionan a EUA para un pacto de reducción del suministro de crudo a nivel mundial de al menos 10 millones de barriles diarios en un intento por estabilizar los precios cuando la pandemia Covid-19 golpea la demanda.

OPEC+ -- the Saudi-led Organization of the Petroleum Exporting Countries -- will convene a teleconference on April 9, in a bid to negotiate a truce in a Saudi-Russia fight for market share that has brought crude prices down by as much as 60 per cent since January.

U.S. President Donald Trump has said he will slap tariffs on crude imports if he needs to protect U.S. energy workers from the oil price crash.

Saudi Arabia has delayed pricing its crude for May delivery as it awaits the result of the conference, indicating that Crown Prince Mohammed bin Salman (MbS) is not willing to flood the market with cheap supplies before an agreement.

Alongside the U.S. and the OPEC+ producers, MbS could demand all countries that pump more than one million barrels a day take a hit. In essence, this would include Canada, China, Brazil, Qatar, Norway and the United Kingdom. Otherwise, Saudi Arabia could continue to pump 12.3 million barrels a day, which would result in prices collapsing to single figures, hitting the U.S. shale oil industry that has been a thorn in the sides of both Saudi Arabia and Russia for the past six years.

Sources
PUBLISHED: 06/04/2020; STORY: Graphic News; PICTURES: Getty Images
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