http://www.bloomberg.com/news/2014-...-comment-russia-reality-check.html?cmpid=yhoo The Saudis have said they will NOT cut oil production and oil is now at $73.50 a barrel. This will hurt Russia a great deal. Oil will likely hit $60 a barrel.
I can't seem to access your link... Is the meeting in Vienna already over? - - - Updated - - - Excerpt: “Al-Naimi says oil will stabilize, but at what price?” Olivier Jakob, managing director of Zug, Switzerland-based consultancy Petromatrix GmbH, said by e-mail. ‘That is the question that the market needs to find the answer to.’’ The oil market is oversupplied and managing this will require non-OPEC countries to cooperate with the group, Iranian Oil Minister Bijan Namdar Zanganeh told reporters today in Vienna. Iran is not planning to cut production, he said. Angolan Oil Minister Jose Maria Botelho de Vasconcelos told reporters there is no need to panic despite a surplus, adding that he expects OPEC to reach a consensus decision. While supply currently exceeds demand, Russia wouldn’t need to cut output even if prices fell below $60 a barrel, Igor Sechin, a former Russian deputy prime minister and the head of the country’s largest oil producer OAO Rosneft, told Bloomberg TV yesterday. Sechin was among officials from Saudi Arabia, Venezuela and non-OPEC members Russia and Mexico who met yesterday to discuss the oil market. The countries, together responsible for one-third of global output, agreed to monitor prices for a year rather than curb production. “If OPEC does not cut production, then Brent would come under further pressure, possibly falling closer to $60-$70,” Abhishek Deshpande, an oil markets analyst at London-based Natixis, said by e-mail today.
$2 a gallon gasoline?? TWO DOLLARS??? Hell, we're going to Peru, in fits and starts Fill up the TRUNK, then dump that milk, the cat drinks high test from now on
You can rest assured that this is being done, at pressure from the US, as we did long ago, to hurt Russia, or the USSR, back then. We did it once, and now we are doing it again.
