Saudi Arabia and Russia in "unprecedented" oil deal, receive OPEC backing

[MicroBrew]

Saudi Arabia and Russia are about to enter into a 10-20 year deal on oil supply, and have OPEC's backing. They are going to reign in the supply, to increase the price. In the past deals were year to year, so this new deal with its long term agreement is stated to be "unprecedented".

https://www.cnbc.com/2018/03/28/ope...|finance|headline|story|&par=yahoo&yptr=yahoo

Well seems like Oil is going to go up. I thought Trump and Jared were BFF with the Saudis, and the West was turning against Russia?

No matter, increase in price makes shale oil a more viable alternative, since it is a little more expensive to extract than traditional crude extraction. Saudi Arabia tried to destroy North American shale oil viability by flooding the market, to reduce the price per barrel.

 

[7437]

I ride a motorcycle so i dont care about gas prices. This is good for people in the USA oil industry though

 

[Seaside]

Saudi Arabia and Russia are about to enter into a 10-20 year deal on oil supply, and have OPEC's backing. They are going to reign in the supply, to increase the price. In the past deals were year to year, so this new deal with its long term agreement is stated to be "unprecedented".

https://www.cnbc.com/2018/03/28/opec-saudi-arabia-and-russias-unparalleled-oil-deal-wins-approval.html?__source=yahoo|finance|headline|story|&par=yahoo&yptr=yahoo

Well seems like Oil is going to go up. I thought Trump and Jared were BFF with the Saudis, and the West was turning against Russia?

No matter, increase in price makes shale oil a more viable alternative, since it is a little more expensive to extract than traditional crude extraction. Saudi Arabia tried to destroy North American shale oil viability by flooding the market, to reduce the price per barrel.

It all a distraction. When WW3 happen it will be probably muslim countries, and US vs China. If Russia smart she will side with USA because if USA and Europa is defeated it leaves Russia at mercy of China. ww3 will be war for world domination just watch. Also Russia want Eurasian union to have iran in it which is stupid i think but that would boost the union and russian economy.

 

[funcrusher2007]

Saudi Arabia and Russia are about to enter into a 10-20 year deal on oil supply, and have OPEC's backing. They are going to reign in the supply, to increase the price. In the past deals were year to year, so this new deal with its long term agreement is stated to be "unprecedented".

https://www.cnbc.com/2018/03/28/opec-saudi-arabia-and-russias-unparalleled-oil-deal-wins-approval.html?__source=yahoo|finance|headline|story|&par=yahoo&yptr=yahoo

Well seems like Oil is going to go up. I thought Trump and Jared were BFF with the Saudis, and the West was turning against Russia?

No matter, increase in price makes shale oil a more viable alternative, since it is a little more expensive to extract than traditional crude extraction. Saudi Arabia tried to destroy North American shale oil viability by flooding the market, to reduce the price per barrel.

I can only imagine the artificial price dropping will get worse with a putin deal...

The fact that we still celebrate saudis as an Alliance state is sickening...

Fuck the saudis and fuck any president that helps them...those dudes have never had the interest of America in mind on any level.

We suck there dick way too much.

 

[MicroBrew]

I ride a motorcycle so i dont care about gas prices. This is good for people in the USA oil industry though

I drive a diesel, so I don't care about gas prices either.

Spoiler

I kid

 

[Arkain2K]

Puhahaha! This news is music to the Canadian tar sand and U.S shale oil industry's ears!

Right now there are numerous shale oil fields laying dormant in North America because oil prices is too low for a profitable operation, but they'll roar back to life the moment prices are pushed back up.

That means Russia and OPEC members are stuck in a conundrum. Can't pump too much and make less money per barrel, but decrease daily output in an attempt to bump up prices and they will permanently lose that marketshare to Canada and USA, all this while electric cars will take over in the forseeable future.

Smart oil-producing countries have already made the switch to other industries (financial, tourism, et al), those who fell behind gonna be fossils a few decades from now.

 

[funcrusher2007]

I ride a motorcycle so i dont care about gas prices. This is good for people in the USA oil industry though

True but bad for the other 99 percent lol.. I garage my gmc unless needed for work and drive a 40 mpg car all other times...even in my car I spend around 120$ a week in gas,I have company gas card but my guys don’t...that’s a lot of money weekly to spend on Just going to work...

Cali hmmmmf

 

[funcrusher2007]

Saudi Arabia and Russia are about to enter into a 10-20 year deal on oil supply, and have OPEC's backing. They are going to reign in the supply, to increase the price. In the past deals were year to year, so this new deal with its long term agreement is stated to be "unprecedented".

https://www.cnbc.com/2018/03/28/opec-saudi-arabia-and-russias-unparalleled-oil-deal-wins-approval.html?__source=yahoo|finance|headline|story|&par=yahoo&yptr=yahoo

Well seems like Oil is going to go up. I thought Trump and Jared were BFF with the Saudis, and the West was turning against Russia?

No matter, increase in price makes shale oil a more viable alternative, since it is a little more expensive to extract than traditional crude extraction. Saudi Arabia tried to destroy North American shale oil viability by flooding the market, to reduce the price per barrel.

On another note , putin pretty much is smirking at trump now.
“Expel Russians ,don’t trip I got this”

I could see an impulsive trump gearing up to start a trade war with saudis and Russia...




















Not!


Not a tweet,not a peep from Cheeto

 

[PlayswellwithLawnDarts]

I can only imagine the artificial price dropping will get worse with a putin deal...

The fact that we still celebrate saudis as an Alliance state is sickening...

Fuck the saudis and fuck any president that helps them...those dudes have never had the interest of America in mind on any level.

We suck there dick way too much.

“Those dudes have never had the interest of America in mind on any level”. You fucked me up with this line dude


I’ll take “what was the majority of 911 hijackers country of origin for 500 Alex”

“CREAM get the money dollar dollar bills y’all”

 

[Seaside]

Saudi Arabia and Russia are about to enter into a 10-20 year deal on oil supply, and have OPEC's backing. They are going to reign in the supply, to increase the price. In the past deals were year to year, so this new deal with its long term agreement is stated to be "unprecedented".

https://www.cnbc.com/2018/03/28/opec-saudi-arabia-and-russias-unparalleled-oil-deal-wins-approval.html?__source=yahoo|finance|headline|story|&par=yahoo&yptr=yahoo

Well seems like Oil is going to go up. I thought Trump and Jared were BFF with the Saudis, and the West was turning against Russia?

No matter, increase in price makes shale oil a more viable alternative, since it is a little more expensive to extract than traditional crude extraction. Saudi Arabia tried to destroy North American shale oil viability by flooding the market, to reduce the price per barrel.

Putin also probably know iran days numbered better side with saudis and rest of muslim world against Iran. but not let iran know this so they can keep using iran. get the deal with Saudis while can

 

[MicroBrew]

On another note , putin pretty much is smirking at trump now.
“Expel Russians ,don’t trip I got this”

I could see an impulsive trump gearing up to start a trade war with saudis and Russia...




















Not!


Not a tweet,not a peep from Cheeto

Yup he isn't going to say anything against the Saudis. In 2016 he said he was going to be tough on them. He flip-flopped epically.

 

[Arkain2K]

On another note , putin pretty much is smirking at trump now.
“Expel Russians ,don’t trip I got this”

I could see an impulsive trump gearing up to start a trade war with saudis and Russia...




















Not!


Not a tweet,not a peep from Cheeto

What do you expect, sending a thank you note to them for conceeding oil market shares to our U.S shale?

No matter what OPEC and Russia does, the U.S profits. It would takes a very special class of mental gymnasts to spin this move of desperation in their grim reality into a bad thing for the U.S.

 

[MicroBrew]

Putin also probably know iran days numbered better side with saudis and rest of muslim world against Iran. but not let iran know this so they can keep using iran. get the deal with Saudis while can

I don't think the Russians will abandon Iran , they need a strong Iran or Syria goes Sunni Jihadist. Iran's oil and gas reserves and strategic position also factors in.

 

[funcrusher2007]

“Those dudes have never had the interest of America in mind on any level”. You fucked me up with this line dude


I’ll take “what was the majority of 911 hijackers country of origin for 500 Alex”

“CREAM get the money dollar dollar bills y’all”

 

[Seaside]

I don't think the Russians will abandon Iran , they need a strong Iran or Syria goes Sunni Jihadist. Iran's oil and gas reserves and strategic position also factors in.

it will happen is my prediction. want make bet? just for fun nothing. Iran is not moderate country and wont change. nobody except the people who just dislike israel and saudi so much they see iran as ´´good´´ believe that. Iran has a half or so descent population but they cant do shit for forseeable next 30 years. I hope russia does not let Iran in the eurasian union because that means free movement of people and letting iranian intelligence and shit enter russia.

 

[funcrusher2007]

What do you expect, a thank you note for bringing U.S shale back to life?

No matter what they do, the U.S profits.

I see what your saying but I’m gonna have a bias cause frankly I hate how entrenched our politicos are with sucking Saudi tit,when truthfully they have never done anything to return favor....us oil will get a boost and a long term contract is actually very good because it won’t bubble out like before.

I know oil production is at all time high here...I just wish we saw that at the pumps.


But I just thought of something didn’t they report recently about us stock drops due to over production?

 

[TribalDrumz]

Putin also probably know iran days numbered better side with saudis and rest of muslim world against Iran. but not let iran know this so they can keep using iran. get the deal with Saudis while can

lol at Iran's days being numbered... You really don't know shit about Iran, Military or Foreign Affairs.

 

[Seaside]

lol at Iran's days being numbered... You really don't know shit about Iran, Military or Foreign Affairs.

they are out numbered and going up against largest military force in the world if US and allies go against them. yeah the current regime is number days. iranian people will survive but new government will happen.

 

[OverCoronavirus Pressure]

The best deal, tremendous, let me tell you. And it was so easy.
Winning.

 

[PolishHeadlock]

I don't think SA increased supply to hurt the US as much as it did it to hurt Iran who is much more reliant on their oil industry