Riyadh put forward an ultimate demand for oil in Moscow

The reason for the difficulties in resolving the oil crisis was the inability of the authorities of Russia and Saudi Arabia to agree on the volume of oil production. About this writes the Bloomberg agency.

The crisis itself is currently exacerbated by the ultimatum that official Riyadh presented to Moscow with demands to limit the volume of extracted raw materials. Russia was called on to remove 1,5 million barrels of “black gold” from the market per day — more than anyone else among the OPEC member countries.

Then the authorities of the Russian Federation refused a radical reduction in oil production. In general, countries agree to reduce its performance by 10 million barrels, but the question is how to distribute this volume between the powers.

Saudi Arabia plans to reduce oil production by 3 million barrels and offers the UAE, Iran and Russia to reduce it by 1,5 million barrels. But it is proposed to do this from current levels, after OPEC countries have increased oil production. As for Russia, it did not increase it in April, and therefore the Russian authorities insisted that the decrease in production be calculated on the basis of average indicators. While disagreements can not be overcome.

The authorities of the countries agree on the fact that the United States should reduce the level of oil production, but Trump reacted ambiguously to this, making it clear that perhaps the United States will do it, or maybe not.

A new meeting within OPEC + was to be held on April 6, then it was postponed to April 9. The reason for the delay is the disagreement between Saudi Arabia and the Russian Federation. Countries shift responsibility for unleashing a price war amid falling demand for raw materials. However, the oil market reacts positively to the very fact of negotiations - the price of oil rose to $ 34 per barrel.
  • Used photos: http://kremlin.ru
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  2. Rus Offline Rus
    Rus April 7 2020 14: 56
    The gas station war has begun.
  3. Lieutenant Rzhevsky I April 7 2020 14: 57
    The crisis itself is currently exacerbated by the ultimatum that official Riyadh presented to Moscow with demands to limit the volume of extracted raw materials.

    And it will be like yesterday ...
    Hare on the beach:
    - Who took my underpants? Give, otherwise it will be like yesterday!
    The animals were scared, they gave.
    They ask: - What happened yesterday?
    - Yes, they also stole it, and did not give it away.
  4. Bakht Offline Bakht
    Bakht (Bakhtiyar) April 7 2020 15: 39
    The whole charm of such conclusions lies in the incorrect assessment of the boundary conditions. Why does Bloomberg believe that 10 million per day is the reason for the fall in oil prices? The price of oil has been falling for a long time. And 10 million a day is yesterday. For starters, it would be nice to know what REAL oil consumption per day is now, at this moment. Called figures for a drop in demand of 20-25 million barrels per day. The maximum decline in demand today voiced at 40 million barrels. Aviation is almost on the ground, trucking has decreased, production is declining (Boeing today announced the closure of one plant), the tourism business has died. The world is plunged into depression, and Bloomberg is engaged in idle chatter. A decrease of 10 million barrels of REAL production will not change anything. For the simple reason that 500 million paper oil is traded on exchanges. It is necessary to clean it. And all, completely.
    And about the ultimatum ... Well, it's on Bloomberg's conscience. When you stand by the firing wall, they don’t put forward ultimatums.
  5. Bakht Offline Bakht
    Bakht (Bakhtiyar) April 7 2020 15: 43
    An example of a game on exchanges.
    Trump lied on Twitter that Russia and the Saudis will cut production by 5 million barrels per day. And another 5 million other countries. Everything turned out to be a lie, but prices soared from $ 27 to $ 36. And what has changed in REAL? Nothing. The excess oil remained, the drop in demand remained, the increase in production remained, but the price rose. Bloomberg can explain this?
    1. Alexander Semenov (Alexander Semenov) April 7 2020 16: 15
      It's not about the price, it's about who will sell and in what volumes. But this is precisely Trump’s task - to resolve this issue, and price is the second thing.
      1. Lieutenant Rzhevsky I April 7 2020 16: 26
        It’s hard to steer without a steering wheel.
      2. Bakht Offline Bakht
        Bakht (Bakhtiyar) April 7 2020 16: 27
        Trump will not be able to resolve anything himself. He is not the Lord God. The division of markets is more important, I agree with that. But nobody even wants to hear about this at this stage.
    2. Smirnoff Offline Smirnoff
      Smirnoff (Victor) April 7 2020 16: 20
      Bloomberg can explain this?

      Bloomberg has long been transformed into a BIG American RAL.
      Shulersky shuffle the facts under the Americans and give out wishful thinking.
      Bloomberg lost his authority as an independent expert.
      All their assessments are FALSE from the brain of American democracy, to the criminal bones of the economy.
  6. Smirnoff Offline Smirnoff
    Smirnoff (Victor) April 7 2020 16: 16
    The Saudis decided to go, in relations with Russia, to American blackmail.
    It is USELESS to talk with Russia in the American language of ultimatums and blackmail.
    All these attempts are MANDATORY doomed to failure !!! I guarantee.

    Let the USA and the Saudis remember! TIME WORKS on Russia !!! The world oil market today is in a fever due to the fault of the US Oil CONSENT and the Saudis against Russia.
    The United States and the Saudis RYLA Russia oil pit, but fell into it themselves.

    All last year and the beginning of this, the United States put pressure on the Saudis to lower oil prices by raising production to ruin Russia.
    The Saudis, having withdrawn from the OPEC + agreement under US pressure, have now lost, according to various expert estimates, from 40 to 60 percent of oil volumes.
    The ghostly strategy of the Saudis, in the US oil market, Failed.

    The United States has long ruled the territory of the Saudis and cranked up various political, economic, military and espionage SCAMs there for the benefit of the United States, while the Saudis get leftovers from the lordly democratic table.
    The Saudis, following the lead of the United States, were themselves in a deep oil crisis.
    Most of all, in the oil crisis, the United States and the Saudis lost.
    Russia also lost, but not by much, in comparison with them.
    The duration of the crisis will lead to the collapse of the US oil industry and the Saudis, and Russia will emerge from the crisis with less loss.

    Russia stands for equal cooperation, so that the three major world oil players Russia, the USA and the Saudis sit at the negotiating table and for three resolve issues of overcoming the oil crisis.
    On a parity basis, reduce production for the next three months, followed by a simultaneous increase in production as the global economy recovers.
    This will allow us to impose obligations on the United States - to limit American oil production in the world market.
    Before the crisis, the United States only GRAVED and did not cut anything.

    The Americans, as before, want to dictate to everyone the oil conditions, and they themselves owe nothing to anyone. Now Russia already has historical advantages forcing the United States to cut oil production. And the Americans have nowhere to go.
    If not cut, then US shale oil will completely BURN. This threatens a catastrophe for the United States and its entire economy of capture and enslavement, and Russia will not make US concessions !!! Russia does not owe anything to anyone, but it is ready to reduce oil production on an equal basis, and not unilaterally, according to American criminal democratic wishes.
  7. Sergey Latyshev (Serge) April 7 2020 21: 45
    They make a fool again.

    Russia was called on to remove 1,5 million barrels of “black gold” from the market per day — more than anyone else among the OPEC member countries. Then the authorities of the Russian Federation refused .....

    - it is when? If then - then a lie, 1.5 was scattered on everyone. If now, then

    Putin also announced the need to reduce oil production by about 10 million barrels per day and Russia's readiness in this ....

    - That is, the GDP is ready to lower by 6 times, and the summit is scheduled for 9.

    So they wipe, wipe the anonymous media in the media ...
    1. Bakht Offline Bakht
      Bakht (Bakhtiyar) April 7 2020 22: 55
      Then of the proposed 1,5 million barrels of 500 thousand to lay on Russia.
      Now Putin agrees to reduce by 1 million barrels out of 10 million overall decline. But the Saudis demand that Russia reduce by 1,5 million, and they by 0,5 million. The States are not going to reduce anything at all.
      This is all in the media. Unreal. Do not agree. On the 9th, the energy ministers of Norway and Canada are going to attend as observers (from Canada, perhaps, there will be not a minister, but a representative of the province of Alberta). Never mind. On such terms they will not agree. At the 10th, a G-20 meeting was announced. Not the fact that it will be. There was information that Saudi Arabia should be the initiator. But so far, apart from empty messages, there is nothing official.