RUSSIA'S NOVAK SAYS   WE HOPE THAT GLOBAL OIL DEMAND WILL RISE IN A FEW MONTHS

Then Dow Jones made it clear that according to Saudi sources, Trump's tweet was nothing but baseless oil price manipulation:

SAUDI OFFICIAL SAY TRUMP'S TALK OF 10 MILLION BBL A DAY CUT OR ABOVE WAS AN EXAGGERATION

Finally, Moscow made it clear where to expect oil prices in the coming year:

RUSSIA IS SAID TO BASE REVISED 2020 BUDGET PLAN ON $20 OIL

Why oil is still up at this point is beyond us.

Update (1300ET): As Bloomberg adds despite the triumphant tone of Trump's tweets, Saudi Arabia and Russia have yet to agree to the size of any production cut, according to an OPEC+ delegate familiar with the conversations. Any curbs will be conditional on every major oil producer also agreeing to reduce production, the person said, asking not to be named discussing diplomatic conversations.