RE: BREAKING: Oil crashes by most since 1991 as Saudi Arabia launches price war
March 9, 2020 at 5:26 am
(This post was last modified: March 9, 2020 at 5:59 am by WinterHold.)
(March 9, 2020 at 4:55 am)BrianSoddingBoru4 Wrote:(March 9, 2020 at 4:39 am)WinterHold Wrote: https://www.cnbc.com/2020/03/09/european...lumps.html
Now that was quick !
Yes; global recession indeed
Not sure you can blame it all on MBS, though. Flooding the market is a pretty common tactic to regain market share.
Boru
Russia seemed quite determined to hit the American shale oil industry, but Saudi Arabia could've at least invest in Russia and try to win Putin instead of turning into a puppet of the U.S.
Maybe Putin wouldn't had decided to take the scorched earth tactic regarding its place in OPEC.
Truth be told: Putin might be a dick, but MBS is a Trump-puppet psychopath. I don't see them work together.
Maybe even invest in Russia so Putin might stop some of his massacres against Muslims in Syria?
That way they could've persuade him, they have a lot of money to do that -instead of burning civilians with it in Yemen-
https://www.cnbc.com/2020/03/08/putin-sp...ctims.html
Quote:It was only three weeks ago that the Trump administration imposed sanctions on Russian oil giant Rosneft for transporting Venezuelan oil. Secretary of State Mike Pompeo believes that in helping Venezuela sell oil, Russia is effectively propping up the Maduro regime. Rosneft is run by Igor Sechin, a former employee and close friend of Putin.
Connect the dots. Putin reacting to Trump. The Saudis, led by Energy Minister and son of the king Abdulaziz bin Salman, reacting to Putin. And American oil and gas workers and investors are caught in the middle of this epic ego battle.
ooooh, I should've known that the puppet MBS will never act before his boss Trump orders him to do so.
