Trump ask OPEC+ to cut by 10 milion barrels

[Tomasz + 1,608]

Quote

Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!

President Trump's request from SaudiArabia and Russia to cut oil production is music to their ears. It means NOPEC in the Senate is dead for now. It exonerates them from any future litigation under antitrust laws, even if NOPEC passes in eth future.

The Kingdom calls for an urgent meeting of OPEC+ and a group of other countries, in an effort to reach a fair agreement that will restore the desired balance to the oil markets.

Who will cut that amount? think about it, Russia's share will be at least 2 mb/d! Will they do it? What will be the US share then? Will take this as an election year talk.. nothing more

 

Edited April 2, 2020 by Tomasz

[BLA + 1,666]

2 hours ago, Tomasz said:

President Trump's request from SaudiArabia and Russia to cut oil production is music to their ears. It means NOPEC in the Senate is dead for now. It exonerates them from any future litigation under antitrust laws, even if NOPEC passes in eth future.

I feel OPEC + should cut exports not production.  Can't monitor production.  Easy to play games, as they all have. 

Again, why can Saudi Arabia export twice as much oil as most every other producer.  

Enough of their blackmail. They don't have the power they used to.  They just proved that with their feckless price war threat.

 

Edited April 2, 2020 by BLA

[Uduak + 22]

2 hours ago, Tomasz said:

President Trump's request from SaudiArabia and Russia to cut oil production is music to their ears. It means NOPEC in the Senate is dead for now. It exonerates them from any future litigation under antitrust laws, even if NOPEC passes in eth future.

The Kingdom calls for an urgent meeting of OPEC+ and a group of other countries, in an effort to reach a fair agreement that will restore the desired balance to the oil markets.

Who will cut that amount? think about it, Russia's share will be at least 2 mb/d! Will they do it? What will be the US share then? Will take this as an election year talk.. nothing more

 

The question any smart person should ask is; how come Trump never asks the American producers to cut back production, always the Saudis?

At least someone in the whole of Saudi Arabia should ask this question.