A telephone call last month between Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman degenerated into a shouting match just before Riyadh decided to flood the market with oil in a move which sent prices spiralling. Saudi officials with knowledge of the disastrous call told Middle East Eye that the row threatened…
The epic 2020 oil crash is the unintended consequence of several factors converging for 30 years: regulatory failure, reckless central-bank money printing, and Wall Street fraud. When central banks nationalize and continually meddle in markets, refusing to allow capitalism to be capitalism, bad things happen, and terrible unforeseen outcomes impact future generations. The central banks…
A perfect deal is where all protagonists get something out of it. All oil-producing countries stand to gain if the oil price rebounds. In bare bones, the OPEC+ group led by Saudi Arabia and Russia finalized, in a nail-biting photo finish on April 12, an agreement to cut oil production by a combined 9.7 million barrels per…
The G20 met in virtual session on April 10, ostensibly to address the crippling one-two punch brought on by the economic impact of coronavirus and the simultaneous collapse of the price of oil resulting from Russia and Saudi Arabia flooding an already depressed market. In the end, the world’s leading oil producers finalized an agreement…
PRESIDENT TRUMP HAS CLAIMED THAT THE U.S. NO LONGER NEEDS FOREIGN OIL AND IS “ENERGY INDEPENDENT.” YET, NOW THE U.S. SHALE OIL INDUSTRY FACES NEAR TOTAL RUIN, MEANING THAT ANOTHER “WAR FOR OIL” COULD BE IN OUR FUTURE. WITH TRUMP AGAIN TAKING AIM AT VENEZUELA, WE MAY BE CLOSER TO WAR THAN WE THINK. On…
The Russia-Saudi oil-price war is a fabrication concocted by the media. There’s not a word of truth to any of it. Yes, there was a dust up at an OPEC meeting in early March that led to production increases and plunging prices. That part is true. But Saudi Arabia’s oil-dumping strategy wasn’t aimed at Russia,…
