Saudi Arabia, Russia make deal to stabilize oil output


mentalfloss
#1
Islamic Commies save the day.


Saudi Arabia, Russia make deal to stabilize oil output

MOSCOW—The world’s two largest oil producers, Russia and Saudi Arabia, on Monday agreed to act together to stabilize global oil output, though it’s unclear what that might entail.

Energy ministers Alexander Novak and Minister Khalid al-Falih met Monday on the sidelines of the Group of 20 nations’ summit in China. A joint statement released by Russia said both ministers “recognized the need to restrain an excessive volatility of the oil market” and agreed to act together “in order to stabilize the oil market.”

Novak and al-Fatih said they would chair the first Russia-Saudi task force on oil and gas in October.

Russia, which is not a member of the oil producing nations’ group OPEC, this year supported calls to freeze production, but the efforts fell through after OPEC member Iran opposed the plan.

It was not clear from the joint statement what exactly Russia and Saudi Arabia would be prepared to do to help prop up the markets but the Russian minister mentioned a production freeze.

“We believe that the market right now is taking too long to balance out, it’s been two years, and joint steps which were considered earlier this year including a production freeze could be a great help in helping to balance the markets as soon as possible,” Russian news agencies quoted Novak as saying.

Speaking to reporters after the meeting, al-Falih, the Saudi minister, said in comments carried by the Interfax news agency that the freeze “is not the only solution” but refused to elaborate.

The price of oil jumped on the countries’ statement. The U.S. contract rose 2.2 per cent, or 99 cents, to $45.43 (U.S.) a barrel in electronic trading on the New York Mercantile Exchange.

https://www.thestar.com/news/world/2...il-output.html
 
Danbones
Free Thinker
#2
Gee, First turkey went over to the dark side, now the british and dutch royalty run sadly Arabia... too bad O'bummber opened his fat yap re brexit eh?
...soon the US will have no one
and no one will need their dollar...
oh boo hoo hoo....

all back of the bus and SH!T
 
mentalfloss
#3
Take your meds.
 
Angstrom
No Party Affiliation
#4
Quote: Originally Posted by mentalfloss View Post

Take your meds.

 
Danbones
Free Thinker
+1
#5  Top Rated Post
Quote: Originally Posted by mentalfloss View Post

Take your meds.

you don't do reality very well do you?
a comment like "take your meds" instead of any attempt at a proper rebuttal
is what one would expect from a full of sh!t idiot

there's your sign
 
MHz
#6
Think of it this way, in a runaway on a steep hill the sooner you are on the runaway exit the better, you are at least slowing down before the crash.
Trump would be considered to be an expert at 'land development' and the US is just a bigger sandbox. Protectionism and being a pariah is not much different and it will be billed that Trump is isolating the US when the world is boycotting all of North America. It still works out that now he can concentrate on fixing the inner workings first and then see what we can contribute to the global community when they are in the market for plowshears rather than missile launchers.
The odds without the US slowing the modernization down it will be done by the time the US is ready to export anything except tourists.
 
HarperCons
#7
Quote: Originally Posted by mentalfloss View Post

Islamic Commies save the day.

what the **** are you talking about, russia hasn't been communist for a very long time. and even during the soviet union era some communists would debate it.
 
Angstrom
No Party Affiliation
#8
Quote: Originally Posted by HarperCons View Post

what the **** are you talking about, russia hasn't been communist for a very long time. and even during the soviet union era some communists would debate it.




Can we just rename this thread. You just went full on stupid.
 
MHz
#9
I'm a little confused here, wasn't Japan part of the US? (for lack of a better term)
Japan's Mazda Builds New Engine Factory in Russia's Far East
 
darkbeaver
Republican
#10
Quote: Originally Posted by Danbones View Post

you don't do reality very well do you?
a comment like "take your meds" instead of any attempt at a proper rebuttal
is what one would expect from a full of sh!t idiot

there's your sign

shjt is usefull

Quote: Originally Posted by Danbones View Post

Gee, First turkey went over to the dark side, now the british and dutch royalty run sadly Arabia... too bad O'bummber opened his fat yap re brexit eh?
...soon the US will have no one
and no one will need their dollar...
oh boo hoo hoo....

all back of the bus and SH!T

US Faces Major Setback As Europeans Revolt Against TTIP




Submitted by Andrei Akulov via Strategic-Culture.org,
France wants to halt thorny EU-US trade talks on the Transatlantic Trade and Investment Partnership (TTIP) as President Francois Hollande underlined there would be no deal until after President Barack Obama leaves office in January. Matthias Fekl, the French minister for foreign trade, has said his country will call for an end to the deal. France has been sceptical about the TTIP from the start and has threatened to block the deal, arguing the US has offered little in return for concessions made by Europe. All 28 EU member states and the European parliament will have to ratify the TTIP before it comes into force.
The statements came just a couple of days after German economy minister Sigmar Gabriel had said talks for TTIP had de facto failed. Gabriel, who leads Germany’s centre-left Social Democratic party and is vice-chancellor in the coalition government, said Europe mustn’t submit to the American proposals. Mr. Gabriel’s statement is in contrast with the position of Chancellor Angela Merkel who supports the deal. Meanwhile, the US-German conflicts are growing. US courts and authorities took a hard line against the Volkswagen Group, Germany’s largest car manufacturer, in relation to its exhaust scandal. In a deal that does not include all damage claims, VW is required to pay up to 13.6 billion euros. There is a growing chorus in Germany saying that the country should orientate more to Asia. This perspective shared by the organizers of the anti-TTIP lobby, including the German Trade Union Federation (DGB), the Left Party and the Greens.
The fact that former British Prime Minister David Cameron – an outspoken proponent of TTIP – is no longer involved in negotiations is another major setback for the deal, which at this point is believed by many to be dead in the water.
TTIP negotiations have been ongoing since 2013 in an effort to establish a massive free trade zone that would eliminate many tariffs. After 14 rounds of talks that have lasted three years not a single common item out of the 27 chapters being discussed has been agreed on. The United States has refused to agree on an equal playing field between European and American companies in the sphere of public procurement sticking to the principle of «buy American».

The opponents of the deal believe that in its current guise the TTIP is too friendly to US businesses. One of the main concerns with TTIP is that it could allow multinational corporations to effectively «sue» governments for taking actions that might damage their businesses. Critics claim American companies might be able to avoid having to meet various EU health, safety and environment regulations by challenging them in a quasi-court set up to resolve disputes between investors and states.
 
Ungern
+1
#11
One think is sure : the actual price of oil is abnormal.
It's clear that it's a war weapon .
How it's possible and why it's used? I dont now.
But it's unclear,very expensive,very dammaging for the US.industry of the oil extraction,and thus not an accident.
 
darkbeaver
Republican
#12
Quote: Originally Posted by MHz View Post

I'm a little confused here, wasn't Japan part of the US? (for lack of a better term)
Japan's Mazda Builds New Engine Factory in Russia's Far East

Usa is a lame duck now, we should attack
 
MHz
#13
A lame duck can still lay eggs, a dead one, not so much.

Quote: Originally Posted by Ungern View Post

One think is sure : the actual price of oil is abnormal.
It's clear that it's a war weapon .
How it's possible and why it's used? I dont now.
But it's unclear,very expensive,very dammaging for the US.industry of the oil extraction,and thus not an accident.

Rather than it being too low at the moment perhaps it was artificially high for the last 100 years.
 
mentalfloss
#14
Quote: Originally Posted by darkbeaver View Post

Usa is a lame duck now, we should attack

Take your meds