Saudi Arabia Confirms Commitment to the OPEC+ Deal With Russia
Life-saving for Russia that Saudis won't be waging an oil war against it like Obama got them to do in 2014-15
Saudi Arabia confirmed its commitment to the OPEC+ agreement with Russia on Sunday, the Saudi Press Agency reported, as Moscow faces international criticism over its invasion of Ukraine.
Crown Prince Mohammed bin Salman made the comments during a conversation with French President Emmanuel Macron that also covered the situation in Ukraine and its impact on the energy markets, said the agency.
“In this regard, His Royal Highness the Crown Prince affirmed the Kingdom’s keenness on the stability and balance of oil markets and the Kingdom’s commitment to the OPEC Plus agreement,” the agency added.
Russia's currency is nominally the RUB, but Russia's currency functionally is oil and gas, and this currency is rising against every other currency in the world.
This seems like a subtle but important nuance many are ignoring but which gives Russia some unappreciated options.
— Luke Gromen (@LukeGromen) February 28, 2022
Members of OPEC+ – a group of 23 nations led by Saudi Arabia and including Russia – will meet Wednesday to discuss loosening the taps, just days after Russia’s invasion of Ukraine sent crude soaring past $100 a barrel.
The 13 members of OPEC proper will be joined by their 10 allies in the OPEC+ group at the teleconference meeting.
While Saudi Arabia is seen as the kingpin of the original OPEC member states, Russia is the major player among the 10 other countries that make up OPEC+.
Source: Middle East Eye
At $70.00 the U.S. could be self-sufficient —and a whole bunch of people would be prosperous. Russia and Saudi would have to dump their oil in Europe, at whatever price.
If Europe had any sense, they would bring in coal and natural gas from the U.S. and Canada.
Yeah, that’s really good Idea. With Tankers & Cargo Ships through an entire Ocean- instead of already existing Pipelines from neighboring Russia…
u work at JP Morgan or Morgan Stanley’s?…
Nahh IMO for CNN ??
My apologies. I didn’t know coal, heating-oil, natural-gas, electricity were cheap and plenty in Hungary.
China is getting their coal from North-America.
China imported about 3.7 million tons of thermal coal from Russia in September, according to customs data accessed through Wind Information. That’s up 28% from August and more than 230% higher than a year ago.
are u an idiot….this is to explesnive…then Germany can sell its cars that cost 40.000 Euros for 100.000 Euros good luck…
A comic has spoken….now chuckle
$queezing gas from Washing town turds bobbing in the USSAN swamp won’t be enough to keep the Europeon’s lights on.
Frack that, jack
If you enjoy USDA Grade AAA bullshit go to the front page of Foxnews. There you will find what the ‘war’ is all about.
After lying about the plandemic for over twp years one would seriously wonder why anyone would believe the horse hocky put out today. Do the ‘free’ West enjoy being dunces or is it some sort of a birth defect?
Don’t think for a second I am rootin for Putin or the zombie West. I just wonder why it seems everyone enjoys being played like a fiddle.
Will everyone now line up for all the injections to be eligible to go to Ukraine to fight Russians that want to eliminate nazis?
Will the Truckers heading to DC [we have now forgotten about] request free passage to go defend Ukraine’s borders while America is being invaded by hundreds of thousands a month and given free money and passage to the city of their choice by Pedo Joe?
Will Americans suffer $7-10.00 or more gas to assist Europeons that shun cheap Russian gas to defend Ukraine nazis at the behest of Pedo Joe?
Will Americans line up at recruiting stations, take the covid injections to fight Russians for Pedo Joe?
Stay tuned for tonight’s grand finale from Washington when Pedo Joe tells Americans and the world that Americans must fight Putin for freedom, justice and the American way. The BS will be breathtaking…
Homework …How much LNG can USSA get its Oily Fiefdom, Quatar to supply to the EUSSR?
Answer, enough to send Urupp back to the 18th century.
Let the gas wars rage as the IOU fiat filth Saudi Mercan toilet paper dollah gets flushed from the Ponzi outhouse down in the Wall St shitter