Quote from: abhiseshakana on April 05, 2020, 10:57:41 AM

It is not only OPEC and Russia that are reducing production but the United States will also reduce production to maintain prices.

This phrase alone shows you have no clue what you're talking about.

The US can't reduce the output because Trump wants so!
In the US oil production is not done by state-owned companies, it's not a shitty dictatorship like Rusia or Saudia Arabia where one guy dictates everything.
If one shale company doesn't want to reduce output it won't simple as that!
Putin can dictate how many cars are allowed the road in Russia but nobody in Germany can force Mercedes to produce x amount of cars or in Italy x tons of spaghetti.

https://www.reuters.com/article/us-global-oil-usa-output-exclusive/exclusive-trump-does-not-plan-to-ask-u-s-oil-producers-for-coordinated-cuts-official-idUSKBN21K2SC?il=0

Quote

The United States will not ask U.S. domestic oil companies for a coordinated cut in production to counter a historic meltdown in global prices and is still awaiting the details of planned cuts in Saudi Arabia and Russia, a senior administration official told Reuters on Thursday.

I've seen on some other topics that you have some sort of grudge against the US, but in this case, admit it has won again!

Quote from: abhiseshakana on April 05, 2020, 10:57:41 AM

If it continues like this the American oil company will only last for 3 months after it can close all. If this condition lasts 2 years the US oil industry will be permanently closed.

Pulling numbers out of your know what again, right?