Voices from Russia

Wednesday, 5 November 2014

Saudi Arabia Collapses Texas Oil to a Critical Level

00 Vitaly Podvitsky. That's Not Real Money! 2014

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Analysts said that reduced prices by Saudi Arabian Oil of WTI light oil exported to the USA and Asia lowered the cost of deliveries WTI in Monday trading on the New York Stock Exchange to 78.78 USD (3,026 Roubles. 481.50 Renminbi. 4,835 INR. 90.08 CAD. 90.58 AUD. 62.94 Euros. 49.24 UK Pounds) a barrel, down 2.2 percent over the price at the previous auction. John Kildaf, an employee of hedge fund Again Capital LLC, said, “This move by Saudi Arabia indicates that it’s trying to keep its market share in the USA, which recently declined slightly. Apparently, the Saudis feel comfortable at this price and this level of demand. It seems that Saudi Arabia expects that growth in demand for oil in the winter will allow them to strengthen their position”. On 31 October, WTI on the New York Mercantile Exchange fell by 0.7 percent to 80.54 USD (3,576 Roubles. 492 Renminbi. 4,944 INR. 91.95 CAD. 92.41 AUD. 64.23 Euros. 50.36 UK Pounds) per barrel. Then, analysts noted that some members of OPEC, particularly Saudi Arabia, are ready to keep prices low to preserve their market share.

4 November 2014

Pravda.ru

http://www.pravda.ru/news/economics/04-11-2014/1234014-neft-0/

Editor:

Crude is now BELOW the breakeven point for shale oil and deep-drilled crude. This means that the oil wells in North Dakota are now unprofitable. Big Oil is in a quandary… it can keep the facilities open, and sell at a loss, hoping that the price will rebound… or, it can shut down the facilities until the price recovers, smashing the local economy. You see, the GOP is in the shitter. Their sugar daddies in Big Oil are going to take big hits, which means that they’ll have less available for greedy corrupt pols such as Rick Perry, Ted Cruz, Mitch McConnell, Marco Rubio, and Rick Santorum. It’ll make them MORE dependent on Big Pharma than they are… which’ll lead to desperate attempts to repeal the ACA, which President Obama will veto, and they won’t have the votes to override. In short, the situation will play right into BHO’s hands. Played correctly and soberly, it’ll snooker all GOP chances for 2016.

Ironic, ain’t it… the GOP “wins big”, only to find out their paymasters are getting the short end. To put it plainly, the GOP’s sponsors no longer have the cash to subsidise the beginning of the 2016 campaign (which it needs IMMEDIATELY). It also means that the USA no longer has any energy alternative to offer the EU. Saudi and Russian crude are cheaper than any American offering… so, what would any normal person choose? There’s nothing that the USA can do, either… short of attacking the Saudis, which isn’t going to happen. The GOP fires the gun… and finds it full of blanks. L’comédie humaine goes on its merry way.

BMD

Tuesday, 20 November 2012

20 November 2012. RIA-Novosti Infographics. Leading Oil-Exporting Countries in Africa and the Middle East

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On 14 November, Israel opened large-scale military operations against militants in the Gaza Strip. The subsequent worsening of the situation led to a rise in world oil prices. Which countries in the Middle East are the largest players in the market for “black gold?” In order to stabilise the price of oil, in 1960, major oil-exporting countries established an international intergovernmental organisation, OPEC (Organisation of Petroleum Exporting Countries). It has 12 members:

The purpose of OPEC is to coordinate and develop a common policy on oil production among its member-countries, maintaining stable oil prices, to ensure a stable supply of oil to consumers, and to control investment in the oil sector. The member-countries control about two-thirds of the world’s oil reserves. They control 40 percent of global oil production, which accounts for half of the world’s exports of the product.

20 November 2012

RIA-Novosti

http://en.rian.ru/infographics/20121120/176556281.html

Tuesday, 16 October 2012

As John Robles Sees It… Chávez Wins To the Displeasure of the West

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Venezuelan President Hugo Rafael Chávez Frías won the presidential election with a comfortable lead over his rival in a contest that many called a choice between socialism and capitalism. In the South American country, socialism won, to the great displeasure of the West. What the election means for the future of Russian-Venezuelan relations is a continuing and strengthening of close ties and cooperation on all fronts. This cooperation is something that doesn’t please the West and those in Washington’s sphere of influence. This includes social and cultural collaboration, energy production and the development of energy resources, business, manufacturing, agricultural, and scientific development, and, lastly, cooperation in military development and cooperation.

Speaking to ecstatic supporters gathered around the presidential palace on the eve of his clear victory in the national elections, Chávez declared, “Venezuela will continue along the path of democratic and Bolivarian socialism in the 21st century”. In an election that many in the West saw as a referendum pitting the ideals of socialism against those of capitalism, the people of Venezuela made their choice loud and clear, and they’re happy with the Democratic Socialism that Chávez championed.

Shortly after the election results became clear, President Putin spoke with and congratulated the charismatic Chávez, wishing him continued success in the post of president. During the course of the conversation, both leaders gave high marks to the level of mutually-beneficial cooperation reached by both countries and confirmed Russian and Venezuela’s shared aim to strengthen what’ve traditionally been friendly relations. The leaders also spoke about further developing and completing many joint plans and stated their commitment to continuing the constructive dialogue between the governments of both countries at all levels.

On the other side of the spectrum, the reaction from the West was far from warm, with the White House reacting faster than it did when President Putin was re-elected, but not congratulating the re-elected leader himself. The frosty reaction from the White House to the leader who not long ago said he supported American President Obama came in the form of a terse press statement congratulating the Venezuelan people, not Chávez himself. As one of the few countries left in the world which pursues a robust and independent foreign policy agenda and internal policies which are far from those which Washington would characterise as being in keeping with their own self-serving interests, Venezuela has found itself increasingly in Washington’s sights. Recently, it’s even been openly discussed, albeit in hushed tones, that the West may have plans to eliminate Chávez and even launch military aggression against the OPEC member.

In the field of energy alone, Venezuela has been a thorn-in-the-side of the USA for a long time, with Washington displeased over many of the policies and practises of the state oil company PDVSA, including what it sees as “discount” prices offered to Venezuela’s “Socialist Allies”. Venezuela has some of the largest oil reserves in the world and the West is displeased that they aren’t able to get their hands on the pie as much as they would like to. On Monday, analysts at J P Morgan predicted that the win by Chávez would further stifle foreign investment, meaning there will be much less possibility of the West getting their share of Venezuela’s riches. Experts and analysts from all the over the world may also see the win by Chávez as a cementing of his position on the American list for régime change, with many continuing to say that after Syria and Iran, Venezuela would be next.

9 October 2012

John Robles

Voice of Russia World Service

http://english.ruvr.ru/2012_10_09/Chavez-wins-to-the-displeasure-of-the-West/

 

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