EDITORIAL ·
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Oil giants in standoff over price and supply: Who will blink first?

AS OIL price wars go, the current one unleashed by Saudi Arabia against Russia, its erstwhile partner in price fixing, is unique. The timing, in the midst of a global coronavirus health and economic crisis, has added yet another element of uncertainty into the mix.

Since 2016, the Saudi-led Opec and Russia have had a working arrangement, dubbed Opec+. It enabled the two sides to prop up prices by cutting supply whenever oil prices dipped. This time, Riyadh wanted to cut oil supplies by 1.5 million...

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