Negative oil prices and the ensuing adverse shocks may further accelerate the cooperation between the United States and OPEC. Individual enterprises in the United States may be more active in coordinating their positions with OPEC.This time, the negative price is influenced by multiple factors, and the main reason is the imbalance between supply and demand. What’ more, the oil market’s uncertainty caused by non-market factors has played a superimposed role in the past two months. Unconventional factors are a huge interference to market participants, making oil producers fail to respond in time. Finally, the U.S. oil market can benefit from OPEC production cuts traditionally, which may also be a driver.The fall of oil prices has indeed hit the shale oil industry in the United States, and the current market situation has also promoted the adjustment of the U.S. policies. The policymakers increasingly need to avoid low oil prices, so as to protect its shale oil industry and the associated economy and employment. The change of American benefits has promoted the cooperation between the U.S. government and OPEC in this historic agreement. Negative oil prices and ensuing adverse shocks may further accelerate cooperation between the United States and OPEC.If the United States cooperates with OPEC, the benefits of oil consuming countries will suffer.
