In a big move, OPEC Plus has unleashed economic hell, cutting production by up to 2 million barrels a day. However, instead of oil rallying, prices crashed as fast as it spiked up. This signals that global demand is collapsing, the world economy is contracting and a production cut might just push it off a cliff. Here’s what you must know.
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✅ Timestamps & Chapters:
0:00 OPEC Big Production Cut
2:47 OPEC vs US Oil War
6:00 OPEC’s Big Crisis
8:55 The Biggest Loser
11:51 Global Economy In Trouble
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19 Comments
So to be clear? does USA have grip on South America's oil? by that, I mean do USA company have majority of stock or they just have access to buy oil?
Mr. Foo,
How about the OPEC's inviting to Brazil joining the cartel? It has a potential to drive the prices or the the oil suply control?
Great analysis Bro. 100% facts
Demand has not remained constant and will drop further. Demand has been declining. Something missing from this picture. The releases from the SPR, which may well be counted in US production, giving a false image. The SPR cannot be refilled at current prices and releases cannot continue forever. The SPR is at the lowest level in 40 years.
i cant figure out, is this jamaican chinese accent or what
You don't even need oil if you have nuclear energy. Oil is obsolete compared to nuclear energy.
Surely if they cut our energy needs they'll stop our reliance on their energy, and I thought it was only us westerners that shoot our toes off
Interesting, but if Saudi Arabia and Russia have all the infrastructure in place and fully paid for, and oil is abundant, where then is the overhead? If the oil is free why does the price matter?
<I ve about 5% of my portfolio in AAPL stock, any advice on any other stock that I can grow my $300k capital to a million dollars?
I believe maximizing oil revenue is a facade to Saudi and Russian motive. Both are big geopolitical players, and higher oil price weakens the west. When the Saudi defected to BRICS, it was game over. In this situation, Saudi Arabia and Russia are the evil twins to the west. Expect further ambiguous moves that camouflage anti-western motives. China and partners are conducting a war of impoverishment on the west. I sound crazy? See how successful they are?
The all-time high price of gold was reached on August 6, 2020, when it reached $2,067.15 per ounce.
Europe still thinks it’s savages in the global South!! Still thinking they are superior!! 🫣🫣
ELON MUSK IS LAUGHING.
SO BE IT. CARRY ON.
390 billion in russian defense spending……. Have you seen the figures for yearly spending on illegals in this country?
490 billion…. Is let that sink in.😅
It literally would be cheaper for us to go to war with Ukraine than having an open southern border.LOL.
When oil prices rise high the platforms start opening up the flow. I worked offshore 18 years of my life. When it was at $22/barrel we only flowed enough to cover the costs of running the platform and make minimal profits. Why sell our oil for cheap when they can open the floodgates and maximize profits. Each zone only has so many barrels.
Good video thanks,, Hi from South Africa,, have a wonderful weekend
Mr Sean foo is more enjoyable to watch than the best Harvard economic classes !!! 😆😆😆
I feel another cut in production for 2024 of 1 Million barrel a day for february march.
I don’t understand these things.. how can you have import or export growth of less than zero?