(02-04-2023, 11:10 PM)Blasterlord2 Wrote: [ -> ]WIth the current high inflation, this will make the situation even worse.
https://www.bloomberg.com/news/articles/...output-cut
yeah...I am shocked OPEC is going deeper into reverse against what Biden had been pleading since last year... to fight inflation.
Cutting 1 million-barrel oil production like throwing another firebomb to an already burning Western economy stressed in all sides by banking instability, labor unrest, inflation, social divides and war in Ukraine + 2024 is a US election year...
Either OPEC has priced in recession this year or Russians oil are getting too cheap...
They are pricing recession plus against America oil cap. Slap Biden and anti China scums here
Lesson from the past is when economic recession comes the production dont adjust downward the price plunge will be so deep it causes fiscal problems for oil producing countries.
I don't think they are cutting to purposely cause inflation.
Inflation is yesterday's problem given the looming banking crisis and recession
US now lock horn with Russia. Some countries take advantage of this precious timing.
The break even cost 4 Saudis ’ deep well oil is about USD 65/- whereas those new well in the US is USD 50/- Saudi cannot bear to see price drop without profit
US corporation Dola with CBDC at a level Mony not enough to buy oil
no oil for u.
no energy someone must die.
population decreases
(03-04-2023, 11:19 AM)sgbuffett Wrote: [ -> ]Lesson from the past is when economic recession comes the production dont adjust downward the price plunge will be so deep it causes fiscal problems for oil producing countries.
I don't think they are cutting to purposely cause inflation.
Inflation is yesterday's problem given the looming banking crisis and recession
Seems like opec are great indicator of recession. Big one..
歐佩克+限產！ 美歐控制通脹增加難度！ 美國華裔官員：中國永遠不可能GDP超過美國，人民幣永遠不會取代美元
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美國將失去沙特 歐佩克遠離 中東變局三部曲 2023 0404
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Saudi is just getting greedy and want to squeeze the world for more money. They are opportunistic as Russia is desperate now and will do anything that can cause chaos to the world.
Can ask Powell to print oil
West idea was Russia collapse and she sells her sarong at the local pawnshop soni
singlion is old enough to know such a period existed in Singapore.
Backfire liao their US corporation Dola no good
dat's all. more more will get the idea and join.
some said RSA want to recoup loss in CS
some said RSA is angry beekok did not kept promise to buy oil from them
after selling oil reserve.
For whatever reason it is agree by rest of OPEC+
(03-04-2023, 11:19 AM)sgbuffett Wrote: [ -> ]Lesson from the past is when economic recession comes the production dont adjust downward the price plunge will be so deep it causes fiscal problems for oil producing countries.
I don't think they are cutting to purposely cause inflation.
Inflation is yesterday's problem given the looming banking crisis and recession
Again..your answer exposed how little knowledge u know abow politics.
The result why Saudi is doing this is because Biden lied to the Saudi and eat back on his words about wanting to use the extra oil he askee them to produced. But ate back his words after the Saudi produced the requested volume and used local oil wells instead.
Biden's continuous betrayal against the Middle East is what led them to cut oil production and dump the USD....that is why all the oil producing countries went to RMB instead...get it now ?
(04-04-2023, 08:20 PM)Instinct Wrote: [ -> ]Saudi is just getting greedy and want to squeeze the world for more money. They are opportunistic as Russia is desperate now and will do anything that can cause chaos to the world.
The Russians are boycotted by US, UK and EU on the sale of crude oil, and without this money, they may want to create havoc on the world scene........
In essence, the petrodollar system was an agreement that the US would guarantee the House of Saud’s survival. In exchange, Saudi Arabia would do three things.
First, it would use its dominant position in OPEC to ensure that all oil transactions would only happen in US dollars.
Second, it would recycle hundreds of billions of US dollars from annual oil revenue into US Treasuries. This lets the US issue more debt and finance previously unimaginable budget deficits.
Third, it would guarantee the price of oil within limits acceptable to the US and prevent another oil embargo.
The petrodollar system has helped create a deeper, more liquid market for the dollar and US Treasuries. It has also helped the US keep interest rates lower than they would otherwise be, allowing the US government to finance enormous deficits it otherwise would be unable to.
That’s why the US government protects it so fiercely. It needs the system to survive.
World leaders who have challenged the petrodollar have ended up dead.
https://internationalman.com/articles/is...-currency/
EV will kill the petrol production countries.
沙特的背刺！OPEC欧佩克宣布是有减产油价大涨！美国指责中国经济霸凌、人民币快速推进国际化、美国正在被各国抛弃、巴西宣布使用人民币贸易结算、俄罗斯称人民币成为本国最大交易货币
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美国被打措手不及，中情局局长亲自上门，对沙特兴师问罪
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