Trump has forced Russia and Saudi Arabia to cut oil production to please the United States


OPEC countries plan to reduce oil production by 23 percent - June-July 2020, the daily production of "black gold" will be reduced by 10 million barrels per day. In particular, Saudi Arabia and Russia will cut production rates by 2,5 million barrels per day, Iraq - by 1 million. Other countries are expected to reduce oil production by another 5 million barrels per day. These restrictions will apply from May to June. From July to the end of the year, the volume of reduction will be 8 million barrels per day, and in 2021 - 6 million.


The production cuts are driven by the need to contain the fall in oil prices caused by the general economic downturn, which, in turn, has caused the rampant coronavirus epidemic. Due to COVID-19, global fuel demand has decreased by 30 percent, as tourism and transportation have been severely affected by the pandemic.

At the same time, American officials have already announced that the volume of production in the United States will naturally fall within two years, so Washington does not intend to take any obligations to reduce oil production, reports Reuters. It turns out that the main beneficiary of the new OPEC + deal, like last time, will be the United States.

Earlier, Trump complained that the country's oil industry suffers greatly from low prices for "black gold", and threatened Riyadh and Moscow with sanctions duties if they refused to cut production volumes. The US President also had a lengthy conversation with Vladimir Putin - the purpose of which was to force the Russian President to agree to further reduce oil production.

Once again, we can say with confidence: the US plan to squeeze competitors out of the energy markets has succeeded again. Russia and Saudi Arabia, as well as a number of other oil-exporting countries, will significantly reduce production volumes, while American oil workers will be able to continue to increase the amount of oil recovered indefinitely in the future.
Ad
The publication is looking for authors in the news and analytical departments. Requirements for applicants: literacy, responsibility, efficiency, inexhaustible creative energy, experience in copywriting or journalism, the ability to quickly analyze text and check facts, write concisely and interestingly on political and economic topics. The work is paid. Contact: [email protected]
33 comments
Information
Dear reader, to leave comments on the publication, you must to register.
I have an account? Sign in
  1. steelmaker Offline steelmaker
    steelmaker April 10 2020 10: 12
    -1
    Shame on Putin !! Screwed up again!
    1. The comment was deleted.
    2. Rum rum Offline Rum rum
      Rum rum (Rum rum) April 10 2020 14: 56
      -2
      https://www.washingtonpost.com/business/2020/04/09/opec-oil-cuts/
    3. Fourth Horseman (Fourth Horseman) April 10 2020 17: 48
      0
      Glory to Platoshkin !!!
  2. Vladimir_ Voronov (Vladimir) April 10 2020 10: 37
    +2
    Simple arithmetic: if you buy less, then what's the point of producing more? If American manufacturers went bankrupt, then they fell out of competition, which means that production decreased. Conclusion: the Saudis and Russians felt sorry for the wretched and did not force them to further reduce production, which means spread rot for the remaining American producers, but with an oil cost of $ 20-30 this will only stretch the pleasure. How do you like this conclusion.
    1. Kristallovich Offline Kristallovich
      Kristallovich (Ruslan) April 10 2020 10: 53
      0
      The United States will not cut production. If there will be some kind of adjustment down, then short-term, and due to the current situation. Prices will rise (are already rising), American oil will occupy other markets, for Riyadh and Moscow are bound by a new restrictive agreement. Quarantines will pass, oil consumption will inevitably increase, and the OPEC + agreement, by the way, will last 2 years ...

      ... the Saudis and the Russians regretted the wretched ...

      This is generally funny.
      1. isofat Offline isofat
        isofat (isofat) April 10 2020 13: 44
        0
        Quote: Kristallovich
        This is generally funny.

        Mexico suddenly became a key global player due to its reluctance to join the OPEC ++ deal, which without Mexico would not enter into force. It is believed that this is a small US revenge for the construction of a wall on the border
  3. 123 Offline 123
    123 (123) April 10 2020 10: 52
    +3
    Dear anonymous author who posted the article, where is the specifics? Who cuts how much? Contract time?
    Get out of the shadows, show yourself to the public. lol
  4. Boris Lytkin Offline Boris Lytkin
    Boris Lytkin (Boris Lytkin) April 10 2020 10: 58
    +2
    Or maybe wait for the end of the negotiations. And then everything was gone, and Russia caved in - it’s not difficult to write. But to write and repent that he was wrong, this is not enough mind.
  5. Marzhecki Online Marzhecki
    Marzhecki (Sergei) April 10 2020 11: 06
    -1
    Well, then, 123, the lieutenant, Rum-Rum, Nick, albor, Sergey Tokarev and other cheers-patriotic screamers?
    Why are you silent? He promised to remind you of your comments on the article:

    https://topcor.ru/13958-putin-soglasen-rossija-gotova-sokratit-dobychu-nefti-v-ugodu-ssha.html
    1. isofat Offline isofat
      isofat (isofat) April 10 2020 14: 01
      +1
      Marzhecki! Your vanity is astounding ...
      1. Marzhecki Online Marzhecki
        Marzhecki (Sergei) April 11 2020 08: 00
        -1
        This is your personal opinion, to which I do not care. From now on I will poke like you in your own comments. Although it is useless.
    2. Oyo Sarkazmi Offline Oyo Sarkazmi
      Oyo Sarkazmi (Oyo Sarkazmi) April 10 2020 14: 49
      +1
      Quote: Marzhetsky
      Why are you silent? He promised to remind you of your comments on the article:

      Gee. An empty stuffing of someone’s mriy. In the news about OPEC + full zero. There are no agreements yet, and Trump, equal to the apostles, influences the Russian Federation and the SA no more than an overseas chatterbox.
      In the United States, production fell by 600 thousand barrels per day, but electricity consumption fell by 40%. The United States is slipping into * opu, which they themselves have developed with their gay parades. Where do they give TSU to world powers!
    3. Rum rum Offline Rum rum
      Rum rum (Rum rum) April 10 2020 14: 59
      +2
      Pan Marzhetsky. Again the steam train behind you.

      https://www.washingtonpost.com/business/2020/04/09/opec-oil-cuts/
      1. Marzhecki Online Marzhecki
        Marzhecki (Sergei) April 11 2020 07: 59
        -1
        In general, everything is clear with you. In principle, it is pointless to discuss with your crowd.
        1. Rum rum Offline Rum rum
          Rum rum (Rum rum) April 15 2020 19: 47
          0
          Pan Marzhecki, to discuss, it means, to give objective arguments.
  6. Marzhecki Online Marzhecki
    Marzhecki (Sergei) April 10 2020 11: 25
    -2
    Quote: 123
    Dear anonymous author who posted the article, where is the specifics? Who cuts how much? Contract time?
    Get out of the shadows, show yourself to the public.lol

    You are exactly the same dear anonymous, if that. Which words are worthless.
    1. Nick Offline Nick
      Nick (Nikolai) April 10 2020 12: 04
      +1
      Quote: Marzhetsky
      Well, then, 123, the lieutenant, Rum-Rum, Nick, albor, Sergey Tokarev and other cheers-patriotic screamers?

      I do not refuse a single word. Everything goes according to Putin's plan:

      Putin is handsome. Gracefully, without pretentious threats and statements in the "a la trump" style, he achieves what he wanted. As he stated earlier, Russia will be satisfied with the price in the region of about $ 40 per barrel. IMHO around this figure the barrel will be spinning. Thus, the US shale oil industry will fade away, freeing up the markets, since the cost of production from existing wells is now in the $ 50 + range, and Russia is smoothly filling these markets. In a word, victory!
      1. Alexander Semenov (Alexander Semenov) April 10 2020 13: 30
        -2
        You rave, dear sir, what a victory ... how to put it easier - while Trump threw you a noose and watches you writhe left and right ...
        1. Nick Offline Nick
          Nick (Nikolai) April 10 2020 13: 51
          0
          Quote: Alexander Semenov
          You rave, dear sir, what a victory ... how to put it easier - while Trump threw you a noose and watches you writhe left and right ...

          I don't feel any Trump stranglehold.
          And meanwhile:

          As you know, the US shale industry experienced a number of difficulties back in 2019, when the average price of West Texas oil was about $ 57 per barrel.

          Last year 42 oil companies in the United States with total debts of $ 26 billion filed for bankruptcy protection, according to law firm Haynes & Boone, cited by the FT. And a year earlier there were only 28 such companies, and their debts totaled only $ 13 billion.

          Well closure
          One of the pioneers in the US oil shale industry, Chesapeake Energy, is also gearing up for debt restructuring. At the end of 2019, Chesapeake's outstanding debt was $ 8,9 billion. Since the beginning of this year, the company's shares on the New York Stock Exchange have fallen by more than four times.

          “A fall in oil prices by 67% since January has significantly worsened the prospects for oil companies that are currently cutting back on their plans for drilling wells,” Prime agency quoted the publication as saying that the industry was faced with an unprecedented drop in oil demand due to the coronavirus pandemic and the price war between Saudi Arabia and Russia.

          Two of the largest independent shale oil producers have already announced that they have cut drilling to maintain positive cash flow.

          So, Parsley Energy will reduce the fleet of drilling rigs from 15 to 12. Diamondback Energy operates only a third of drilling rigs completing new wells. “The decline in activity will continue until we see clear signs of a recovery in commodity prices,” the Vedomosti newspaper quoted the company's CEO Travis Stis.

          BBC
    2. gorenina91 Offline gorenina91
      gorenina91 (Irina) April 10 2020 12: 08
      -7
      - You have advantages from me ...
      - Yeah ... - There is a whole "invulnerable cohort" ... - for this they are kept ... - They can do anything ... - they are invulnerable ...
      - But personally, I am not invulnerable ...
      - And what's the matter ??? - Yes, it's all about the same local "heroes-heroes" ... - Everyone pours insulting maxims at me, everyone "pokes" me ... - And personally, I don't even know them and ... and I never apply to them the first ... - only forced to respond to the next rudeness ...
      - Regarding the topic:

      Trump has forced Russia and Saudi Arabia to cut oil production to please the United States

      -It's a no brainer that the Americans are the winners ... -The Americans just pushed Saud with their heads. Arabia and Russia and ... and watching the "process" ...
      1. Nick Offline Nick
        Nick (Nikolai) April 10 2020 13: 55
        0
        Quote: gorenina91
        - Every now and then it's a no brainer that the Americans are the winners ... - The Americans simply pushed Saud with their heads. Arabia and Russia and ... and watching the "process" ...

        With the brains of a hedgehog, everything becomes clear. I agree.
        1. gorenina91 Offline gorenina91
          gorenina91 (Irina) April 10 2020 14: 06
          -5
          With the brains of a hedgehog, everything becomes clear. I agree.

          - And now - also joyfully ...
          1. Nick Offline Nick
            Nick (Nikolai) April 10 2020 14: 20
            0
            Quote: gorenina91
            With the brains of a hedgehog, everything becomes clear. I agree.

            -And now, another and joyful ...

            Rejoice. You are excusable. Prices look at oil and the dollar and rejoice.
            1. gorenina91 Offline gorenina91
              gorenina91 (Irina) April 10 2020 15: 13
              -9
              Rejoice. You are excusable.

              - Ha .., yes it is forgivable to you all ... - And to me; and me ... - just what - they immediately "banned" for a long time ... - And they are rude to me myself, and then me, when I personally fight back ... - they also "ban me" ...
              - So it is "forgivable" for someone, but "not forgivable" for someone ...
            2. gorenina91 Offline gorenina91
              gorenina91 (Irina) April 10 2020 18: 03
              -5
              For Nick (Nikolay)

              - Uuu ... - how many "intercessors" you have run up - I already have 5 minuses (without any arguments ... - there will probably be even more) ...
              - This means that you personally - very much "mean" ... - with great "significance" of you ...
  7. Nick Offline Nick
    Nick (Nikolai) April 10 2020 11: 40
    0
    Putin is handsome. Gracefully, without pretentious threats and statements in the "a la trump" style, he achieves what he wanted. As he stated earlier, Russia will be satisfied with the price in the region of about $ 40 per barrel. IMHO around this figure the barrel will spin. Thus, the US shale oil industry will fade away, freeing up the markets, since the cost of production from existing wells is now in the $ 50 + range, and Russia is smoothly filling these markets. In a word, victory!
  8. Marzhecki Online Marzhecki
    Marzhecki (Sergei) April 10 2020 12: 59
    -1
    Quote: Nick
    Putin is handsome. Gracefully, without pretentious threats and statements in the "a la trump" style, he achieves what he wanted. As he stated earlier, Russia will be satisfied with the price in the region of about $ 40 per barrel. IMHO around this figure the barrel will spin. Thus, the US shale oil industry will fade away, freeing up the markets, since the cost of production from existing wells is now in the $ 50 + range, and Russia is smoothly filling these markets. In a word, victory!

    You are something.
  9. Marzhecki Online Marzhecki
    Marzhecki (Sergei) April 10 2020 13: 01
    -1
    Quote: Nick
    Quote: Marzhetsky
    Well, then, 123, the lieutenant, Rum-Rum, Nick, albor, Sergey Tokarev and other cheers-patriotic screamers?

    I do not refuse a single word. Everything goes according to Putin's plan:


    This is a kind of diagnosis. wassat wassat
    1. isofat Offline isofat
      isofat (isofat) April 10 2020 14: 10
      0
      Fools are drawn to intelligence, like cats to the fire.

      G. Chesterton
      1. The comment was deleted.
        1. The comment was deleted.
        2. The comment was deleted.
    2. Nick Offline Nick
      Nick (Nikolai) April 10 2020 14: 33
      +1
      Quote: Marzhetsky
      This is a kind of diagnosis.

      We can say that the diagnosis, which established that the person is normal and adequate, and has sufficient sanity.
      And you, before you write articles in the style of "Alyarm!" on the topic of oil wars, it would be nice to get acquainted with the current exchange rates of the dollar against the ruble and oil prices after the transaction. Something the dollar is getting cheaper, but oil is not getting more expensive. What does this mean? Kirdyk has already come to the American shale. Without any formal adherence to the deal, US oil production dropped by 600 barrels per day. Putin is smart and generous. Putin will not force Trump to officially join the OPEC + deal in such conditions, and even on the eve of the US presidential election.
    3. Igor Pavlovich Offline Igor Pavlovich
      Igor Pavlovich (Igor Pavlovich) April 10 2020 15: 10
      -2
      Worse is a sentence without the right to appeal ...
  10. shadow Offline shadow
    shadow April 10 2020 15: 09
    0
    In fact, no agreement has yet been reached. And the headlines are already squealing.
  11. shadow Offline shadow
    shadow April 10 2020 18: 28
    -1
    I’ll leave a reference here, otherwise I’ll write for a long time.