[proxy_user]

Tomorrow’s headline: “Putin in discussions to join OPEC”.

[elhombrelibre]

Well, it's out there today that they're trying to get output cuts. They've upset too many key producers to get their way, I think.

"Russia wants to talk to OPEC about output cuts to bolster oil price"

http://www.cnbc.com/2016/01/27/russia-wants-to-talk-to-opec-about-output-cuts-to-bolster-oil-price.html

[meatloaf]

That will work well. All of them will have to pump oil like crazy to support the level of revenue they need. Add Iran dumping oil on the market and the outlook isn’t good for any country relying on exported oil to support their economy.

The war between the Saudis and Russia over Syria won’t help either. It’s a race to the bottom as oil inventories pile up. And if the price of oil rises enough, shale oil comes roaring back. and it can be exported to place more pressure on OPEC.

When the Saudis allowed oil prices to skyrocket, they screwed themselves. We’ve got a lot of wells drilled that have never been produced.

As our LNG export capacity expands, Russia is looking down the other barrel of the double barreled shotgun. American natural gas means Russia can no longer extort Europe.