OPEC+ plans to further accelerate oil production growth and may cancel voluntary cuts of 2.2 million barrels per day by the end of October.
If an additional 1.65 million barrels enter the market, I don’t even know where the oil price will be. But Russia will definitely go bankrupt 🔥
If an additional 1.65 million barrels enter the market, I don’t even know where the oil price will be. But Russia will definitely go bankrupt 🔥
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https://youtu.be/QiXp75ajpog?si=aQ8Mawnf4_guEG4h
Whatever it is that Russia is up to here, the key factor I see is that Putin is going to take down the US oil industry with him if he goes down, but I don't think Russia is going down, there's more to this
Throw in a Godzilla attack on Moscow and let’s 🤘
Russia is doing this, so a lot of people are missing whatever it is Russias game plan actually is.
Russia is NOT crashing itself
The other members have endured unpopular cuts for years, which failed to raise oil prices.
New production from Guyana, increased US production combined with BEV demand destruction means everbody is keen to get to market, while the market still exists.