Cognitive Dissonance.

You know, I stress it constantly, I am not an oil industry specialist but I can compare--you know, like I can tell the difference between black and white colors, I can also tell, most of the time, BS from truth. I am (semi)professionally involved in debunking Western media BS and here I go again. You already saw a Force 5 tornado of BS from US media on how Trump "brokered" the new deal and how Russia was "defeated". Here is an example from, who else, Bloomberg:

The ill-fated decision to face off against Saudi Arabia in early March was “a strategic mistake and now we’re paying the price, a much higher price than we could have paid,” said Andrey Kortunov, director of the Kremlin-founded Russian International Affairs Council. “This looks like a victory for the U.S., and Russia ends up a bigger loser than Saudi Arabia.”

Just one example of many. Who IS Mr. Kortunov and what RIAC is will talk about this later. Bloomberg also goes for the titles like this: 

Trump’s Oil Deal: The Inside Story of How a Price War Ended

And, in general, one is left to wonder what universe those people live in. I constantly repeat and I will reiterate that in modern world a profession of journalist or news handler is not a viable profession because it is based largely on a lack of any skills or well-trained analytical apparatus and is used primarily for propaganda purpose. The level of American journalism is well known and it is an Exhibit A of a serious case in cognitive dissonance, because in related news, very fresh, like an hour ago, one is forced to compare alternative and real universes.  

North America’s Oil Industry Is Shutting Off the Spigot. Energy producers are resorting to the desperate measure of shutting in productive oil wells.

It is understandable that in my case I could be accused of being biased, because I am Russian, and whatever else could be derived from this fact, but it is really difficult to accuse documented numbers of oil prices and radically anti-Russian outlet such as The Wall Street Journal in any desire to, for whatever reason, unnecessarily confirm a simple fact that US shale oil industry now has a noose around its neck. This is not to mention the fact that US shale oil is but one of few other objectives Russia pursues in her big game with the US and she has necessary cushion to play this game for a long time--time which neither US, let alone KSA, have. And here we come to Western media MO with opinions "from Russia". Let's take a look who US media draws its "opinions" from? Just one example out of many. 

For starters, let's get to RIAC. The first giveaway here is the year of its founding--2011. During Medvedev's Presidency and one after another failures of Russia's diplomacy starting from giving up Libya to being unable to stop the gang rape of Syria, yet still "integrating" with the West. In the end, enough to take a look at such people as Aven being on RIAC's board. So, in general, RIAC is a copy of a good ol' Western "think-tanks" whose real practical value approaches zero and which are involved deeply in doctrine mongering and are nothing but clubs of interests for people who think that they are good at something. RIAC is radically pro-western think-tank. Kortunov's biography is available at RIAC's site and reads exactly as a biography of any other American counterpart in US "think-tanks"--humanities degree (granted obtained at MGIMO), then white board "academic" career in fully discredited Institute of US and Canada, a teaching "tour" in the US, some "research" and writing of papers which lose any value even before they are published anywhere. It is obvious that Kortunov's "portrait" is that of a Russian "liberda" which is directly used by Western media and NGOs to distill opinions on matters of Russia's foreign and domestic policy  and present them as viable. Opinion "generators" for US media of this type which come to mind, of course, are Moscow Higher School of Economics (VShE), another zoo of confused globalists, rags such as Moscow Times, military "specialists" such as Pavel Falgnehauer, or creatures such as Masha Gessen among many others. So, you see how it works? 

As per reality, even Bloomberg had to publish later "attitude adjustment" piece:

“The scale of production cuts is a move in the right direction, but considering how badly demand is affected, it was never going to be significant enough to push the market closer to balance,” said Edward Bell, senior director for market economics at Emirates NBD PJSC in Dubai. “Is Russia going to cut production by 2.5 million barrels a day in two weeks? That’s a pretty steep ask.”

Remember this simple fact, everyone knows, that Russia is fine with the price of oil $30 per barrel, and she is happy as clam with $40 per barrel--prices which do not work for either Saudis or US. So what is the real target here? Obvious, having the US joining the emerging cartel and, in the end, Petrodollar. But as famous Mikhail Bulgakov's character of Professor Preobrazhensky from the Heart of a Dog used to say to his assistant, Dr. Bormenthal: "Don't read Soviet newspapers before lunch." You know what word to change in Preobrazhensky's advice in order to avoid a severe cognitive dissonance.