Us pushes back on calls for Oil output cuts and Saudi, Russia and allied oil producers will only will agree to deeper cuts if the united states and several others join in!
How many thinks US will join the output cut?
The price recovered. But there was one big difference between then and now: American oil consumption appears to have fallen about 14 percent between 1929 and 1932, the worst years of the Depression (based on production figures). That’s significant, and it was painful. But today consumption is on the way to a drop of 20 to 25 percent, over a period not of three years but of weeks.