See headline in news. Not good
They are not cutting. Its a freeze at record production. Not sure how thats going to help the supply situation.
Not this year. Maybe not next year either if demand goes down
Rig count meaningless. US oil Imports are at record levels.
"Saudi Arabia’s deputy crown prince, Mohammed bin Salman, said in an interview with Bloomberg that the kingdom will only freeze its oil output if Iran and other major producers agree to curb their output."