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

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