Oil prices: Saudi Arabia will not be saved even $ 80 per barrel

March 30 2020 41

The oil industry in Saudi Arabia is experiencing considerable problems due to low prices for raw materials, the Pakistani newspaper The Nation (nation.com.pk) writes.

So, the United States, Europe and even India are already refusing to buy Saudi oil, including at its present value. The reason is simple: not enough storage space.

At the same time, Russia was able to partially repel losses in the European direction by deliveries to China, which began to recover from the epidemic.

Riyadh has the prospect of becoming a “pure debtor" in the near future, and even oil prices above $ 80 per barrel will not help out the monarchy.

Earlier this week, Bloomberg warned that declining oil revenues could lead to an “unthinkable balance of payments crisis” for Riyadh and put an end to many years policy countries to peg their currency, rial, to the US dollar

- reported in the text of the Pakistani edition.

At the same time, the United States can put pressure on Saudi Arabia to return prices to a level acceptable to the American shale industry.

At the same time, Moody's expects stabilization of world prices for black gold before the end of 2020 at the level of 40-55 dollars per barrel, and in 2021 - up to 50-55 dollars per barrel against the background of renewed growth in the world economics.

https://pixabay.com/

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albor.ru

+2

30 March 2020 17: 18

That’s how it is ... Just don’t forget that the gold reserves of the Saudis are over 500 billion with a population of less than 40 million people.
gorenina91

-6

30 March 2020 17: 22

At the same time, Russia was able to partially repel losses in the European direction by deliveries to China, which began to recover from the epidemic.

- It's strange ... - how did Russia "manage to partially recoup losses in the European direction by delivering supplies to China" ??? - In excess of the agreed volumes, perhaps, Russia began to supply China ??? - This is how ??? - After all, China and the agreed volumes agreed to slow down, supporting the American sanctions against Russia ...
1. mor7d
  
  -5
  
  31 March 2020 08: 42
  
  It's simple.
  
  ... recapture European losses by deliveries to China.
  
  A case of so-called lies. In the Chinese direction, only losses and their sizes are classified.
  1. gorenina91
    
    -3
    
    31 March 2020 10: 40
    
    In the Chinese direction, only losses and their sizes are classified
    
    - That's right ... -And you, Mr. mor7d (mor7d), didn’t notice that I personally always get a huge number of minuses .., contrary to all logic ... - And at the same time they do not motivate .. .
    - It seems that this is my personal anti-site ... - You won’t think of anything else ...
    1. The comment was deleted.
    2. mor7d
      
      -4
      
      31 March 2020 11: 09
      
      gorenina91 (Irina), I'm sorry. I did not pay attention to the cons, but are they important? I will put you a plus, as I absolutely agree with you.
Alexander Semenov

-3

30 March 2020 17: 57

Arabs invested about 2 trillion dollars over the years in the economies of other countries, they are doing well.
123

+3

30 March 2020 18: 38

So, the United States, Europe and even India are already refusing to buy Saudi oil, including at its present value. The reason is simple: not enough storage space.

In addition, oil consumption is falling and not only from them, Japan and South Korea are also on this list. Russia is easier in this regard, China began to recover and replenishes its reserves, in March 1,6 million tons.

https://www.mk.ru/economics/2020/03/27/kitay-kupil-u-rossii-rekordnyy-obem-nefti-saudity-proigryvayut.html

As for the Saudis, the budget for 2020 has a deficit of 44 billion euros, to eliminate the deficit, a price of $ 80 is needed and they have been waiting for it for more than 5 years. This is the opinion of the French, and not "Kremlin propaganda".

https://www.lemonde.fr/economie/article/2020/03/12/petrole-en-arabie-saoudite-les-plans-de-developpement-du-royaume-contraries_6032759_3234.html

For those who want to understand the history of events, a good article:

https://www.globalaffairs.ru/articles/saudovskaya-araviya-neft-i-razvitie/
Sergey Latyshev

0

30 March 2020 22: 31

In general, and among the Saudis kirdyk, we bent them, another breakthrough and victory!

Interestingly, in a month or two they will recall this victory?
Bakht

+5

30 March 2020 23: 55

A spokesman for Russian President Dmitry Peskov challenged the words of US President Donald Trump that his Russian counterpart, Vladimir Putin, had been asking for the lifting of sanctions over the past two years. It is reported by TASS.

This is not so, a Kremlin spokesman said in response to a question about whether Trump’s words are true.

I wonder what is true and what is not?

The fact that both parties do not deny is that the telephone conversation took place. Both sides confirm that two issues were discussed: the fight against coronavirus and the stability of energy markets. There is information that the Saudis agreed to reduce production. Today I cut for half a day about Rosneft. Two events have occurred. Congress refused to finance strategic oil purchases, and Rosneft's Venezuelan assets were transferred to the Russian government.

The OPEC + deal does not make sense if the States are not included in it. Reduced production should be signed by all parties: the Saudis, Russia and the United States. The rest will simply be forced. Their voices and Wishlist will not be counted.
Trump will not be able to lift the sanctions. It is simply not in his power. But he is simply obliged to go to the OPEC + 2.0 agreement. He has no way out.

PS Cherry on the cake. There was so much talk here about how wonderful it is that ordinary Americans are pouring in cheap gasoline, and it turns out that now they want expensive gasoline. I don't remember where the phrase came from. It seems, from A. Bek "Volokolamsk highway". Baurzhan Momysh-uly: "there is to look, but not to see!"
1. mor7d
  
  -6
  
  31 March 2020 08: 51
  
  He has no way out.
  
  - exactly the opposite.
  Apparently, the Russian leadership is beginning to slowly realize that it has overestimated its capabilities, and the fall in oil prices, which is now exacerbated by distinct threats from the United States to impose oil sanctions, is not what it was counting on when Minister Novak slammed the door in Vienna, leaving the OPEC plus meeting ahead of schedule.
2. mor7d
  
  -6
  
  31 March 2020 09: 30
  
  Reduced production should be signed by all parties ...
  
  And how do you like this option, the Americans, the Saudis and someone else from the Gulf agree, and
  
  The rest will simply be forced. Their voices and Wishlist will not be counted.
  
  And whoever kicks there will get oil sanctions.
  1. Bakht
    
    +2
    
    31 March 2020 09: 46
    
    Not an option. In any case, there is no such information yet. While there is information that Mnuchin, and now Trump, want to negotiate with Russia.
    
    There are many nuances and misleading information. Can anyone pinpoint the reserves of Saudi Arabia with sufficient accuracy? Or its production facilities. The Saudis have been pumping oil for 60 years already. And "proven reserves" are only growing.
    
    In the early 1970s, the four companies that were part of ARAMCO - Exxon, Chevron, Texaco and Mobile - estimated the potential field in Gavar at 60 billion barrels. Now the field has already produced 55 billion barrels and is due to dry out soon. However, ARAMCO, which since 1976 became known as the National Saudi Company, estimates the remaining resources at 125 billion barrels.
    1. mor7d
      
      -6
      
      31 March 2020 09: 50
      
      Why not an option? You do not want to think that the Americans with the Saudis want to throw the Russian Federation out of the European market and take its place? But in vain. Look, even Belarus already dictates the price of oil to the Russian Federation and you agree, otherwise the Old Man will buy from the Saudis.
      One should always consider a bad option, fewer disappointments.
      1. Bakht
        
        +4
        
        31 March 2020 09: 59
        
        I'm not interested in talking to you. Yesterday you showed your failure. And now they just confirmed it. Your phrase is
        
        You do not want to think that the Americans with the Saudis want to throw the Russian Federation out of the European market and take its place?
        
        - says that you didn’t understand anything. Again. Russia did not sign the OPEC + deal just because the Americans and Saudis were about to oust it from the European market.
        
        It will not work to exclude Russia from the oil deal. There are no levers of influence on its policy. This is not Nigeria or Iraq. All actions until today implied just such an option. We exclude Russia and act on our own. This option has failed. Open the news. Trump called Putin and offered to clean up the oil markets. Not the other way around.
        
        mor7d
        
        -4
        
        31 March 2020 11: 24
        
        You don’t understand anything. Moreover, you have turned everything upside down; the Russian Federation will have to agree on much more difficult conditions.
        
        It will not work to exclude Russia from the oil deal. No leverage on her policies
        
        Grant, of course, Gd, but you apparently don’t understand that for the Americans to knock you out, just click your fingers. An example with a flow is an example.
Arkharov

-4

31 March 2020 08: 05

Do we all need to worry so much for Saudi Arabia?
1. mor7d
  
  -6
  
  31 March 2020 08: 53
  
  In the article, everything is turned upside down. In fact, we need to worry about the Russian Federation and its economy, tied to the trade in oil, gas, metals.
  1. Arkharov
    
    -4
    
    31 March 2020 09: 22
    
    Which of the authors is particularly concerned about this here. The main thing is that the neighbor's cow is dead.
    1. mor7d
      
      -5
      
      31 March 2020 09: 22
      
      It looks like it.
  2. Bakht
    
    +1
    
    31 March 2020 10: 01
    
    US GDP could collapse by 50%, while unemployment could soar to 30% in the second quarter due to measures to combat the coronavirus, said the president of the Federal Reserve Bank of St. Louis James Bullard in an interview with Bloomberg last night.
    1. mor7d
      
      -3
      
      31 March 2020 11: 28
      
      US GDP could collapse by 50%, while unemployment could skyrocket to 30%
      
      Maybe, of course it can, but what can we say about the Russian Federation with its frail resource economy and hidden total unemployment? I would think in your place what to do, how to save the Russian economy, not the American one. I don’t worry about the Americans, everything will be fine with them.
      1. Bakht
        
        +1
        
        31 March 2020 20: 09
        
        I don’t worry about the Americans. When I have a printing press at home - I absolutely do not care what kind of crisis is in the yard.
        If you do not understand, then I worry about reformatting the world. This is completely useless to me. And the Americans too.
        I talked a lot and productively with the Americans. Nice guys. The only fad in all, without exception, is a reduction in consumption. The ABSOLUTELY unacceptable thing.
        
        mor7d
        
        -2
        
        April 1 2020 09: 37
        
        When I have a printing press at home - I absolutely do not care what kind of crisis is in the yard
        
        Do you have a printing press at home and do you use it?
        
        worried about reformatting the world
        
        Not worth it. The world lives its own life, do not resist this. Stability has never led to anything good.
        
        reduction in consumption - ABSOLUTELY unacceptable thing
        
        This point applies to absolutely everyone. I bet that you, just like the Americans, do not want to lower the quality of your life, but only to improve it. Buy yourself a bigger apartment or at least a TV.
        I see that you have a habit of belittling Americans, Ukrainians, to stand out from their background, to show yourself how much better you are. It skips for you all the time.
        
        Bakht
        
        +2
        
        April 1 2020 10: 01
        
        Again, something seemed to you. I make a difference between a person and a state. A person can be very pleasant in communication, and his state can be an enemy. I have friends and acquaintances around the world. But this does not mean that I am well disposed towards the states.
        Reducing consumption is a very important point. You can increase your personal consumption by relying on your resources. That is, working and making money. Or you can take a knife and go outside. And also raise your standard of living.
        This is a big topic and refers to the phase of capital accumulation. I do not think that you can convince me in this matter.
        
        mor7d
        
        -2
        
        April 1 2020 10: 18
        
        Something seemed to you again
        
        In no case didn’t seem, you just don’t notice it, it’s already in your habit. To me, as a person from the outside, it is more visible, it hurts, so to speak, the eye.
        
        Bakht
        
        +2
        
        April 1 2020 12: 08
        
        In the same way, I can say that you have a prejudice against the Russian Federation and worship of the West.
        The simple truth. A person (in this case your opponent) can have a completely different point of view from your ideas about the world. And they did not form under the influence of a television or what graphomaniacs print. From personal life experience and reading more or less special literature.
        I can explain why I answer you. If you leave your writings unanswered, it may give the false impression that I accept your answers. This is not true. Therefore, I have to answer. Another thing is that your answers are not specific. No numbers, data, links. And I can’t get anything useful from them. In addition to your personal conviction that the Russian Federation is byak, and the West is white and fluffy. My opinion is diametrically opposed.
        Therefore, I am not interested in discussing with you. There is nothing concrete.
        
        mor7d
        
        -2
        
        April 2 2020 00: 21
        
        You have a admiration for ... I don’t even know what, some myths, fairy tales.
        
        There are no specifics in your answers. No numbers, data, links
        
        So everything, both the article and your answers, pay attention, see the log in your own eye.
        
        My opinion is diametrically opposite
        
        That is why there is something to discuss, otherwise it remains only to chew the same gum.
        
        Bakht
        
        +1
        
        April 2 2020 01: 13
        
        Again the same thing. Well, give me at least one quote or opinion. A good book by E. Reinert "How Rich Countries Got Rich and Why Poor Countries Remain Poor". You probably won't read Marx. And it is studied in Western economic colleges. The difference between the Soviet and Western economies is beautifully described by Kara-Murza. So much has been written about oil that you no longer know what to read. Eric Laurent "Oil. Falsifications. Deception".
        I do not see myths in myself. I read, if not special literature (after all, I'm not a child prodigy), but more or less close to science.
        The Western model of capitalism is built on the Protestant morality "God loves the rich." And to achieve wealth, all methods are moral. And the slave trade and the robbery of the colonies. And the destruction of people as well. Two world wars and hundreds of millions of deaths on the conscience of capitalism. This is so that no one will forget. And the current crisis is not a virus. The current crisis is the general crisis of capitalism. And there is a virus today - there will be no tomorrow.
        This can be argued ad infinitum. Convinced nothing to prove. I can change my point of view if you prove to me that I am wrong. But you will never change yours. Faith is incompatible with knowledge.
        
        mor7d
        
        -4
        
        April 2 2020 10: 30
        
        How rich countries became rich and why poor countries remain poor
        
        Oil. Falsifications. Cheating
        
        Western model of capitalism
        
        Two world wars and hundreds of millions who died on the conscience of capitalism
        
        The current crisis is a general crisis of capitalism
        
        A set of sweet old-Lenin-Stalin tales. All this has nothing to do with reality.
        
        You will prove to me that you are wrong
        
        What for? If you misunderstand reality, then how can you prove something. The sun rises where it rises, but for you it rises in the West. How can I prove that in the East? No way.
        
        isofat
        
        +1
        
        April 2 2020 10: 53
        
        Quote: mor7d
        USSR was an arsonist of World War II
        
        The arsonists hid in Israel. The reason for all the Jewish pogroms is their own.
        
        mor7d
        
        -3
        
        April 2 2020 10: 57
        
        The arsonists hid in Israel. The reason for all the Jewish pogroms is they
        
        Of course, killers always say that the murdered person is to blame.
        
        The comment was deleted.
        
        isofat
        
        +1
        
        April 2 2020 17: 27
        
        The film is big, but very informative.
        
        The comment was deleted.
        
        isofat
        
        +1
        
        April 2 2020 12: 02
        
        https://v004.radikal.ru/2004/f4/6226547443-3-47c47e00cde281a99cb2ead1613fbb7e.mp4
        
        The video has been deleted from youtube. Zionists with the Nazis, WWII.
        PS Copy the link to the address bar, Enter
        
        Bakht
        
        +2
        
        April 2 2020 11: 18
        
        I have already seen how you perceive reality. Explicit Facts You manage to completely pervert. For example, that nobody invited Russia to negotiations. You generally live in the looking glass.
        -----
        Regarding the Second World War, you are wrong ABSOLUTELY. And who was the arsonist, it’s useless to teach you. I will not even argue with the distortions of your story. She is completely FALSE. Specially allocated. Your ideas about the world and history are absolutely FALSE.
        ----
        It is useless ... Stay in your distorted world. This is not even interesting.
        
        isofat
        
        +1
        
        April 2 2020 12: 09
        
        No need to remove a bunch of Zionists from the site. It is necessary that people know the bastards.
    2. Oleg Rambover
      
      -3
      
      31 March 2020 17: 26
      
      Can you imagine what will happen to Russia and its citizens then? New 90s.
master3

-2

31 March 2020 14: 38

Saudi Arabia will not be saved.

- I am surprised that someone else believes in such nonsense.
Pavel Ivanov

-1

31 March 2020 15: 08

Ask the Pakistani edition who will save us?
1. Ser sash
  
  0
  
  31 March 2020 18: 56
  
  Americans and save.
  We have a pro-American government that suits them completely.
  And in all extractive industries in Russia, they have a share.
  Defending the Russian commodity industry, they will protect, among other things, the profits of American companies.
The comment was deleted.
Ser sash

+1

31 March 2020 18: 58

But what about the article three days ago that Saudi oil is not used for the production of diesel and fuel oil, and the main buyer of our oil is the United States.
Rus

-2

April 1 2020 07: 54

Favorite news of Russians is the death of enemies! Not at home and in the city, but that somewhere far away and not mine! You need to think not about yourself, but about others.