If OPEC’s unofficial price floor for oil is now $50

If oil producers intend to cut production to keep prices above $50, why are so many oil producers budgeting for oil at $30?

And in the process creating a government savings glut?   The growing deposits of the government of the oil producers at their own central banks are absolutely stunning.

The Saudis will add over $100b to their reserves this way this year.   That is enough to write a check of $20,000 to each of Saudi Arabia’s roughly 5 million households.

Just saying.

the IMF for its silence

regional outlook