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https://twitter.com/JavierBlas/status/1245821350431928320?s=20
I agree on this one, the ksa want to reduce Americans shale business so why would they and the Russians let Trump broker a sweet deal in the USA favour. I could see Putin just ramping up production to increase the pressure just to get a deal on his terms.
A lot of shorters very bitter on here today, we all know with Brent crude at $32 a barrel this will quickly retrace to 20p
Trumpian Bluff!
SA and Russia cannot possible oblige as they would be selling their countries down the river for the greater glory of the mighty USA.
It's ridiculous, preposterous, stupid, as I said Trumpian in nature, that's not to say a sensible deal won't be done.
Mr.Spacetomato
Russia need 25% of current production for their own use.
So a 50% cut in production would mean 2/3 cut in exports … they would need Oil to be at $60 not $40 to keep same income.
As Unbelievable as selling 1 barrel of oil for under $20 when you can sell if for almost $40? In short you would produce half a barrel, or 50%, for the same price you sell a barrel today. So yes, quite believable.
I find it unbelievable that people think that Russia and Saudi Arabia actually agreed to cut almost 50% of their Oil production …. just unbelievable !!
What's even more surprising is , even if Russia DID say they would make such a huge cut, that they would actually go and do it.
Not sure the KSA got the message....
https://www.spglobal.com/platts/en/market-insights/latest-news/petrochemicals/040220-first-crude-oil-cargo-set-to-be-exported-from-saudi-kuwaiti-neutral-zone
Not sure the KSA got the message....
https://www.spglobal.com/platts/en/market-insights/latest-news/petrochemicals/040220-first-crude-oil-cargo-set-to-be-exported-from-saudi-kuwaiti-neutral-zone
Brent has reacted.
http://www.livecharts.co.uk/MarketCharts/brent.php
brent trading at $31.46
https://twitter.com/realDonaldTrump/status/1245720677660925952
Trump says expects at lest 10m barrel of oil cut ....
cnbc news ;-)