I suspect OPEC and the plus countries like Russia will all cheat on their proposed reductions and further drive down oil. The entire world is in a depression. Deflation is a likely outcome.
“I suspect OPEC and the plus countries like Russia will all cheat on their proposed reductions and further drive down oil. “
I doubt it. Putin needs the oil revenue and most of the OPec countries have oil as their main revenue earner as well.