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Russia is a Leading Member of OPEC+ and is therefore expected to join in the action of the rest of the Consortium. OPEC+ has already announced two rounds of Oil Production cuts during 2023 and has now announced FURTHER CUTS. This comes at a bad time for Russia which needs to maximise the revenue it is earning to support spending on the War in Ukraine. The Russian Economy has started to COLLAPSE as the impact of the Sanctions hit home. Russia’s OIL & GAS Revenue is down 65% in the first 10 months of 2023 compared with the revenue Russia was earning prior to the invasion of Ukraine. In addition to this huge reduction in income Expenditure is continuing to increase due to the investment in the War, which means that the Russian Economy is now incurring massive LOSSES. In this video I provide more details of the current situation and discuss the problems that Russia is now facing.
For specific details please check out the CHAPTER list below.
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Chapters:
0:00 Intro
3:54 OPEC+
9:04 OIL PRICES
13:09 PUTIN ARREST WARRANT
16:20 SUMMARY & CONCLUSION
#UKRAINE
#russia
#opec
#uk
#pricecap
#GLOBALFINANCIALCRISIS
#RUBLE
#SWIFT
#RECESSION
#CHINA
#USA
#NATO
#WW3
#WORLDWAR3
31 Comments
YAAAAAAYYYYYY AMERICA !!!!
YAAAAAAYYYYYY UKRAINE !!!!
Much like in India, the Russian economy grows as its people starve.
Excellent info as usual thank you
Dictator Putin
The reason the oil is falling is the record production by the USA.
"Potential" war crimes? Any nation that doesn't arrest Putin and send him to the Hague is an accomplice, and equally guilty!
Thanks
An Oil well’s production will decline typically about 10% each year. So an oilfield with zero investment could expect to see a similar decline. So if Russia has cut 500,000 out of 5 million this indicates that Russia has a whole has done zero investment in its oilfields. The additional cuts look like another 10% decline that Russia is anticipating for next year.
Joe…..You got it wrong. Saudis said NO oil production cuts. They said they would maintain April production levels. Would not review until April 2024, maybe July.
Also Saudis and OPEC voiced doubt of supposed Russian cuts. They asked to have more data. IOW, the Russians are lying. (Imagine that.)
"Voluntary"= not going to happen.
Russian Ural. End of September $84. Today $52. 35% decline in 75 days.
Funny Maduro, Putin butt boy, tries to keep 1+m/b of Guyana oil off market.
Shocking that a man who thinks he can just invade and country and force its people to obey doesn’t understand how supply and demand works. Maybe one day the tiny man will understand.
The US and Canada have been producing more gas oil and exsporting LNG to Europe and its also the other reason oil prices are falling as well as a slow down in the world economy
OPEC ARE NOT THAT BRIGHT , SELL OIL CHEAP AND THE WORLD ECONOMY WOULD START GROWING AND DEMAND WILL FOLLOW.
Nice video nice length
Russia sell oil . It’s happening under hand . 😂😂😂😂
Putin is by far the most important man in the history of green energy. His invasion has pushed everyone into finding a way to not buy oil.
There is also a transfer from hydrocarbons to electric which is cutting back on demand.
And the US which is undergoing good growth is maximising its domestic production.
The west have to join together and stop importing foreigners or its finished as a culture. Foreigners just want to takeover, wake up.
And think that cutting oil production is not going to help there economies
Good news for putin and russia
Putin is selling his oil to OPEC and India etc who then resell it.
This cut in production will only drive the economy further down. Hence the demand for oil will fall again
Oil has moved past peak demand, on the next boom cycle oil demand will stay low, the world is also transitioning away from oil.
If you believe russia is cutting oil production, then I have a bridge in Crimea to sell you. Pooptin was called to kneel to his OPEC+ masters in UAE. They know what the world knows, russia is still selling oil illegally. Now he has to use different black market sellers. That may take him 2 or 3 days.
When is the next cup of joe?
It is possible that Russia capacity is simply diminishing and they are masking it in ''cutting production to keep prices up''
❤Ukrainian ❤
Iran hopes for agreement with US, to start export of oil. Iran and Venezuela will fuck this arab-russian deal.
It is just making it easier for the world to get rid of oil
Putin's selling oil to OPEC, hence his trip. Very obvious. A Russian oil tanker was also spotted off the coast of Brazil, he's selling it to countries who then resell it, India being another.
If they keep up, before you know it, Russians will be buying oil and gas from other countries 🛢 😂
The US has got Russia cornered, Russia has to cut while the US keeps ramping up oil production. The low oil price is bringing down inflation for the US and choking russia of revenue.