I think the market pullback may be giving an opportunity to trade in to this good news. This WSJ article shows the uncertainty - there are about three deals referenced here as the author is getting this out, the title is somewhat different than the other two possibilities.
Look at the Oil States below. It is in rocket ship mode - the tubing price increases by Brookpe I think are finding their way in most service company price decks - if you need some rod boxes, probably going to see a significant increase in inventory pricing. There is one vertical line where the CMF crossed over, also see the RSI do the same crossover.
Seems to be some good risk/reward, if the Russians don't muck it up. Greed seems to favor the upside for all the players. That 1 million BOPD that Saudi can deploy is a powerful bargaining chip. Reading the Saudi message to start the conference seems pretty clear where MBS is.