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OPEC+ has announced that it is cutting Oil Production by 1 Million Barrels of Oil per day. This cut is in addition to the cut of 1.1 Million Barrels per day announced in April and 2 Million Barrels Per Day announced in October 2022. The reason for these cuts is to try to maintain Oil Prices however the strategy has not worked so far. In this video I provide more details of these cuts and look at the impact of falling prices and the Sanction Discounts on both the price of Russian Oil and Russia’s revenue and discuss the future impact on the Russian Economy.
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Chapters:
0:00 Intro
2:13 PRODUCTION CUTS
4:38 GLOBAL OIL PRODUCTION
7:25 OPEC+
8:54 OIL PRICE
13:19 RUSSIAN OIL PRICE
15:39 SUMMARY & CONCLUSION
#UKRAINE
#russia
#pricecap
#GLOBALFINANCIALCRISIS
#RUBLE
#SWIFT
#RECESSION
#CHINA
#USA
#NATO
#WW3
#WORLDWAR3
22 Comments
Learn more than ever from important non-fiction books at https://shortform.com/joe and receive 5-days of unlimited access and an additional 25% discount on the annual subscription
What the world needs is a more stable source of power. More renewables are what is needed.
As I said numerous times, your analsis never come true on the Russian economy. You bern doing this for a yeear and your predictions have been wrong as you approach it with a bias. I will keep pointing it out, a year from now lol.
Please add into your equation proven barrels of Reserve and then when there's big discoveries and other times when they want to remove proven barrels of Reserve to claim that there's less reserve than there are like Texas did before Alaska under Sarah Palin as Governor created Aces taxes
People that sell Commodities make their commodity scares when they want to pay their bills it turns out some of the same companies Digg up oil and dig up gold and clean the environmental mess that they create apparently that's where they make quite a bit of their money the price of oil is closely related with regards to how much they can dig up a business named Anglican wanted to have a large mine disgusting toxic mess right beside the most pristine largest coho salmon run on the planet they have their own coho salmon run in New, found ,land😊
Going the way of Venezuela?!!
14:27 for some context, US $115,000,000,000 is almost twice Russia's entire defence budget as of 2022. Given how dependent the Russian state is on oil, that's a serious blow to the national coffers.
If OPEC cuts production, the oil producers outside of OPEC make more money. So the non-OPEC producers increase production, driving down the price.
The only thing OPEC is accomplishing is losing market share. This at a time when they may not have much longer to sell oil before a permanent oil market glut caused by the adoption of E vehicles.
The Saudi's want to keep the price high as a favour to Trump and give his reelection campaign a boost! Dirty dirty dealings.
"Russia is just a gas station masquerading as a country. ~John McCain
If Saudi Arabia does not want to trade oil at the free market price, we should stop providing them with free security.
What will happen if electric vehicles become commonplace? Will Opec+ collapse?
btw, in Bulgaria we have mainly russian oil. And we buy it at price which is bigger than the brent price 🙂 So sad
American propaganda 😂😂😂
Russia is doing well Thank you. 🇷🇺🇷🇺🇷🇺👋🏻👋🏻👋🏻
Currently in Norway, 60% of the cars are EVs, gas stations are not heavily visited… have fun OPEC
The world economy is all about oil right now, but get ready for an amazing energy revolution in the next five years! We're talking about mind-blowing stuff like fusion, solar power, electric cars, and hydrogen vehicles that will rock our world. And guess what? Big shots like OPEC and other countries that love their oil money will have to face some serious changes.
When I think about OPEC's crazy greed and questionable morals, it's clear that something's not right. They only care about themselves and it's causing a ton of suffering. Just look at countries like Bangladesh, Pakistan, Sri Lanka, and so many others in Africa—they're stuck in poverty because of OPEC's actions. These countries rely on help from richer nations, and OPEC is making things even harder for them. It's just not fair.
Honestly, I don't think OPEC should even exist. They're basically a bunch of bullies who take advantage of us consumers worldwide. It's like a gang of powerful supermarket owners who get together and jack up prices whenever they feel like it. That's not how things should work! It's time we put a stop to their unfair practices and fight for fairness and equality. We shouldn't have to suffer because of their shady dealings.
Mathematically, reduce oil production to zero so prices will go to infinity.
Price of oil will shoot up again in 2025 when the solar activity will reach its maximum. That's when cities will see a blackout as a result of solar flares knocking out most of the power grids. As a result, there will be no water, no electricity and no fuel.
OPEC cuts production, Russia claims to, but keeps production up!
Fake news !!!
Russia economy will survive as I have been saying since the start of the stupid sanctions. I can not say that about Germany (already in a recession), UK and other EU countries.