YGRN - Oil Approaches A Watershed Moment In Vienna

Introduction

The markets, jittery as ever on Friday, took to heart rumblings coming from the attendees of the bi-annual summit in Vienna. The oil price tumbled as a result, dropping 5% in a single day to finish just above $55/bbl.

Here's the issue for Riyadh. KSA has shouldered the brunt of the cuts - which, given their position as OPEC's nominal leader, only makes sense. But the pain is there nonetheless. Even worse, the strategy of cutting to balance the market has been only marginally effective, thanks to the "cheaters" and, of course, the undisciplined

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