EXTRAORDINARY AH Teaching from Spiritual Hierarchy
  NEW READERS! Read Here First
  Supporting AH
  Leadership of AbundantHope
  Regional AH Sites
  Other Sites with AH material
  Contact Us
  Becoming A Messiah
  Mission Ideas
  System Busting
  Cleric Letter/English
  Translations of Cleric Letter
  AH Member Writings
  Brian's Poetry
  Telepathic Messages
  Jess Anthony
  Lucia G
  Targeted Messages
  Light Flower
  Changing The Face Of Religion
  - Phoenix Journals - PDF in German
  Candace on Religion
  Other Spiritual Pieces
  Spiritual Nuggets by the Masters
  Phoenix Journals
  Phoenix Journals - PDF
  Telepathic Messages PDF books
  Selections from the Urantia Book
  Illustrations For The Urantia Book
  CMGSN Pieces
  David Crayford and the ITC
  Health and Nutrition
  Podcasts, Radio Shows, Video by AH
  Political Information
  True US History
  Human/Animal Rights
  The Miracle That Is Me
  911 Material
  Books - eBooks
  government email/phone #'s
  Self Reliance
  Alternative News Sources
  Art and Music
  Foreign Sites
  Health and Healing
  Human/Animal Rights
  Vegan Recipes
  Translated Material
  Gekanaliseerde berichten Jess
  Gekanaliseerde berichten Candace
  Gekanaliseerde berichten Anderen
  Canal Jess
  Par Candace
  Other Channels
  Telepathische Nachrichten (Candace)
  Telepathische Nachrichten (Jess)
  Telepathische Nachrichten (div.)
  AH Mitgliederbeiträge (Candace)
  AH Mitgliederbeiträge (Jess)
  Spirituelle Schätze
  Translations - Candace
  Translations - Jess
  Translations - Others
  by Candace
  By Jess
  By Others
  Anfitriones Divinos
  Bitácoras Fénix
  Creadores-de-Alas (WingMakers/Lyricus)
  Escritos de Candace
  Escritos de Otros
  Telemensajes de Candace
  Telemensajes de Jess Anthony
  Telemensajes de Otros
  By Candace
  By Jess
  By Others
  Korean Translations
  Hungarian Translations
  Swedish Translations

[an error occurred while processing this directive]
Political Information Last Updated: Apr 4, 2020 - 11:11:39 PM

Saudi Arabia Uses Low Oil Prices to force US to cut shale production, but damage to all countries may prompt talks
By Russia Today
Apr 4, 2020 - 11:07:20 PM

Email this article
 Printer friendly page Share/Bookmark

4 Apr, 2020
Get short URL

Saudi Arabia uses low oil prices to force US to cut shale production, but damage to all countries may prompt talks

Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas. © Reuters / Nick Oxford

A fall in oil prices intensified by Saudi Arabia's actions has dealt a deadly blow to US shale oil companies, but "counterproductive" measures that harm all oil producers may force Riyadh, Washington and Moscow to finally talk.

The so-called ‘Shale Revolution' in the US in recent years has deprived the Saudis of a huge chunk of the American oil market, but Riyadh is now using the coronavirus crisis to win back its lost position.

After failing to find common ground with Russia on how to respond to the pandemic, Saudi Arabia began pumping oil at such an intense rate that the prices saw the sharpest drop, unseen since the Gulf War in 1991.

The Saudi move delivered a devastating blow to the shale companies in America because "when the prices are low the production of shale oil becomes unprofitable" due to it being a more complex and costly process, Konstantin Dudarev, a Middle East expert and a specialist in Arabic studies, explained.

ALSO ON RT.COMSaudi Arabia wants to put pressure on Russia...but could it hurt itself instead?

"As a partner of the US, which strongly depends on the Americans in many ways, Saudi Arabia can't bluntly state that its main goal is fighting the US shale companies. But I can't rule out that bankrupting those shale companies is their goal," he added.

Riyadh also has no intention of using the situation it created to buy into a chunk of the US shale market - it wants those companies completely out of the picture for the production of oil to reduce in America and make Washington long for Saudi supplies once again, Dudarev pointed out.

Saudi Arabia's push to remove US shale oil producers from the market is "counterproductive and revealing of the low professional level" of those behind it, Andrey Baklanov, deputy head of the Russian Diplomatic Association and the country's former ambassador to Saudi Arabia, said. With Covid-19 killing more than 60,000 and infecting over 1.1 million people around the globe and devastating economies, negotiations seem like a much better measure than waging price wars.

Dudarev expressed the belief that "an international coalition with a unified stance on oil of Saudi Arabia, the US and Russia is quite possible" as each one would benefit from it.

"Everybody profits from stability on the international oil market," while the low prices hurt not only the US and Russia, but the Saudis themselves, he explained. "We've seen this in 2014 and 2015 when Riyadh was losing up to $100 billion annually."

ALSO ON RT.COMTariffs ALWAYS an option! Trump hopes Russia & Saudis reach oil deal ‘fair' for US as Putin seeks cooperation from ALL sides

Trump may well agree to work with Riyadh and Moscow to reduce production in order to save the American shale industry and "make a sort of a grandstanding, which would show that he's willing to cooperate with the international community in those hard circumstances," Baklanov pointed out.

Besides, even a minor drop in production - of around four to six billion barrels - agreed by the sides, may significantly improve the situation as "the oil market is a bit artificial and sometimes symbolic gestures can have a major effect," he said.

But Baklanov suggested that it shouldn't be all about Riyadh, Washington and Moscow. "A whole new situation has formed on the international oil market due to the global battle against the coronavirus and it calls for a whole new response from the countries that produce and consume oil," he added.

A fresh formula of cooperation between the oil countries is gravely needed. It must include OPEC (Organization of the Petroleum Exporting Countries) nations of which Saudi Arabia is a major player, Russia and other states that joined the OPEC+ format between 2017 and 2020, as well as those who never participated in the group including "the US, of course, as potentially the largest oil producer in the world."

ALSO ON RT.COMOPEC+ emergency meeting to be held on April 9

Think your friends would be interested ? Share this story !


All writings by members of AbundantHope are copyrighted by
©2005-2020 AbundantHope - All rights reserved

Detailed explanation of AbundantHope's Copyrights are found here

Top of Page

Political Information
Latest Headlines
Russia Designates Floyd George “Incident” Psyop Operation—Warns CIA Is Main Target
World without money
Off With Her Head ! Aussie republicans scent blood as Queen’s secret letters on PM’s contentious sacking are set to be made public
How Barack Obama Destroyed Libya
Former Antifa Member Admits Group's Acts Are "Very Definition Of Domestic Terrorism"
UK Opposition to Russia’s Return Proves That Trump is Right On The G7/G8 Being Past Sell-by date
Twitter Puts President Trump As Top Search Result for Term “racist”
NASA Issues Incoming Asteroid Alert As Combat Warplanes Fill Night Skies Of America
Shocking Evidence That Indicates That Somebody Is Trying To Orchestrate An Internal Uprising Inside The United States
Twitter Censors Rep. Matt Gaetz for ‘Glorifying Violence’ … Against Antifa!
Zuckerberg Won’t Censor Trump, but Don’t Mistake Facebook for a Bastion of Free Speech
Mainstream Media Has Been Conditioning You For This Uprising For Four Years
The Social Contract Between Government And People Is Unraveling
"To Whom Will We Entrust The Truth Now That It No Longer Exists?"
‘Let’s not excuse violence’: Barack Obama Forgets His ENTIRE Presidency and Argues Riots Should Lead to Voting Democrat
"It's All Bullsh*t" – 3 Leaks That Sink The COVID Narrative
Latin American Pro-Lifers Push Back
Exposing The Media's "Distraction" Deception
Free Abortions, pre-K sex ed: Conservatives Blast Boise Mayor’s Transition Report as 'socialist wish list'
Twenty Unanswered Questions to the George Floyd Protests, how did we get here ?