Can Saudi Arabia Extend The OPEC Deal Until 2022?

Oil market bulls are in for a surprise if we believe the latest statements from OPEC+ leaders Saudi Arabia and Russia. The official views proponed by the OPEC+ JMCC during the last few days were looked at as a positive sign as existing production cuts are being relaxed in August as a result of higher expected demand. The Saudi Minister of Energy and OPEC’s main power broker Prince Abdulaziz bin Salman added fuel to the fire by telling Al Arabiya yesterday that he could see a development in which the OPEC+ oil production agreement will be…