Trump to Saudis: Cut Oil Production or Lose Military Support

US President Donald Trump allegedly gave the Saudi administration an ultimatum to stop the infamous price war with Russia. On April 2, Trump apparently made a phone call to Saudi Crown Prince Mohammed bin Salman (MBS), letting him know that unless the Organization of the Petroleum Exporting Countries (OPEC) cut oil production, he would allow lawmakers to go ahead and legislate a US troop withdrawal from the kingdom.

The New Oil Deal – Is Putin Playing Chess and Will Deal Fall Through?

Under the new Saudi- Russo oil deal, Saudi Arabia and Russia lead the record for oil cuts as part of the agreement committed by 23 countries to withhold 9.7 million barrels a day from markets. Western publications, including The New Yorker, ran articles this week with headlines such as “How the Russian-Saudi Oil War Went Awry—for Putin Most of All.”

Oil Prices Fall Despite OPEC Plus Agreement

Global oil demand has fallen by 30 million barrels a day due to the outbreak of the coronavirus, which has quarantined nearly half of the world’s population. Another result has been a sharp drop in the global economy, for which the world was seemingly overdue. However, OPEC Plus has only agreed to cut production by 10 million barrels for the two months of May and June of this year.

AMLO Scores Major Political Victory with OPEC

Mexican President Andres Manuel Lopez Obrador has won a major economic victory for his country in the face of fierce pressure from other OPEC countries. US President Donald Trump recently brokered a deal to have members of the group cut oil production. AMLO, however, refused to cut oil supply by more than 100,000 barrels per day, a move that threatened to reverse progressive talks within the union

Saudi Arabia and Russia Establish New Path in Energy Markets

Onсе Saudi Arabia аnnоunсеd thе OPEC+ agreement to reduce wоrld оіl production bу nеаrlу 10 реrсеnt, оіl prices іn futurе соntrасtѕ in Aѕіа rose аftеr a fеw hоurѕ. Obѕеrvеrѕ еxресt that thе еаgеrnеѕѕ of thе mаjоr рrоduсеrѕ to rеасh thе bіndіng agreement before ореnіng the mаrkеtѕ in the dealings оn the first dау оf the wееk wоuld support рrісеѕ above thе $30 реr barrel bаrrіеr.

Russia-Saudi Oil Price War: Myths, Reality and Global Analysis

This week, one of the main topics around the world is the so called “oil war” between Russia and Saudi Arabia. A myriad of publications are claiming the Russian economy will tank during this oil price war. According to the various economic models, the Russian economical crises is supposed to reach its peak in 2025. That is another reason, beside Putin’s personal aspirations, why he wants to remain in control of Russia. At that point, it could be possible for the West to weaken Russia.

OPEC Considering Cuts Ahead of March Meeting

OPEC is considering extending its oil production cuts until the end of the year, as the markets are still looking downward, but discussions remain at an early stage. Russia’s TASS news agency quoted a source within the organization on Friday. The source said the group, which includes two oil exporters, was due to meet in March, but it might also meet in June to decide on the policy.

Russia Wants to Sever Ties with OPEC – Does Putin Want His Own Alternative?

Russia’s head of the Minenergo, Alexander Novak, recently stated the nation’s interest is to gradually severe ties with OPEC, the Organization of the Petroleum Exporting Countries comprised of 14 nations. Founded in 1960 in Baghdad by the first five members, OPEC moved its headquartered in 1965 to Vienna, Austria. The countries that joined later were:

UAE Inspires the World With Diverse Sources of Energy

The UAE, the wоrld’ѕ sixth-largest hоldеr of oil rеѕеrvеѕ, hаѕ bесоmе аn inspiration fоr the rest оf the world аѕ the wоrld’ѕ mоѕt dіvеrѕіfіеd energy есоnоmу, along wіth trаdіtіоnаl оіl аnd gаѕ еxроrtеrѕ. Currеnt аnd futurе sources оf еnеrgу up tо 2030 rаngе from oil, gаѕ and renewable еnеrgу, ѕuсh аѕ wind, solar, аnd hуdrоеlесtrіс, аѕ well аѕ new nuсlеаr еnеrgу, through the Barakah plant, whісh іѕ оnе of the largest іn the wоrld.

Has Oil Bottomed? If Demand is So Low Due to China, Why isn’t Copper Showing Any of the Same Patterns?

If oil demand is down so much due to the China trade war and tariffs, how come the more economically sensitive materials, such as copper, have not felt the same economic downward price effects?

Today China has asked it’s refineries to hold off on placing new orders for crude oil imports in anticipation of lower prices once and if demand stalls further. The Chinese buyers have cut off purchases of U.S. crude oil as the trade dispute between Beijing and Washington continues.

Oil Becomes Black Gold Again

Are Oil Prices About to Gush?