Posted on 04/07/2025 12:33:57 AM PDT by marcusmaximus
Saudi Arabia has made the biggest drop in oil prices in two years — it has reduced the price of its main oil grade, Arab Light, to $2.30 per barrel for Asian customers.
According to Bloomberg, this decision came just a few days after OPEC+ decided to increase oil production by 400,000 barrels per day more sharply than expected.
In addition, “Trump’s tariffs” have also dealt a serious blow to world oil prices — oil prices have fallen by $10 in one day: from $75 to $65 per barrel. This is the lowest level in three years. For Russia, whose budget is directly linked to world oil prices, this was a real economic blow.
Earlier, Trump demanded that OPEC+ lower oil prices. He said that this demand is necessary to reduce inflation and increase pressure on Russia - he wanted to persuade the Kremlin to end the war in Ukraine.
The price of Brent oil in London fell below $ 65 - this is the lowest figure in the last four years. For comparison: Russia planned its budget for 2024-2025 with oil prices above $ 70. Every $ 1 loss per barrel means billions of rubles in losses for the budget. Saudi Arabia, on the other hand, plans to gradually increase oil supplies, which threatens to further lower prices.
(Excerpt) Read more at zamin.uz ...
Check out what the top US export is.
Good, glad to see Russia getting hurt economically thus. This should nudge Putin along to doing the right thing. Now if only your idiot Zelensky would get on board with ending this insanity.
$60 U.S. oil = $45 for Putin’s high sulfur junk oil.
Zelensky unconditionally agreed to President Trump’s ceasefire almost a month ago. Putin refused.
“it has reduced the price of its main oil grade, Arab Light, to $2.30 per barrel for Asian customers.”
Y’all sure that is right?
“Reduced by” most likely.
I think that should be a “by” and not a “to”. That’s how I read it.
The decline in oil prices also hits Putin’s pals in Iran hard. Russia and Iran are getting a beat down in the oil markets that threatens their domestic economies and weakens their strategic position and bargaining power with the US.
And Russia still has to sell their oil to China and India at a 30% discount.
marcus the FR clown
US refineries can handle that just fine.
one liner trollink.
What Zaporozhye doink, clownboy?
What Putin oil doink?
2 weeks to Easter, clown boy...
What Zaporozhye doink, clownboy?
Yup. The sanctions risk and long, roundabout delivery require a steep discount.
Bingo. You want negotiating leverage with Russia? Sink the price of oil. That will do it.
Biden did the exact opposite. He was trying both to twist Russia’s arm AND pushing Gaia worship at home. Those two are the exact opposite of each other. Restricting oil and gas production at home is going to strengthen one of the largest oil and gas producers on earth.
Duh.
You’d have to be an utter moron - like the Global Socialist Watermelons - not to see it.
Curious what actual profits Russia is making off its petro exports. 45 a barrel with increased shipping costs and production costs leaves little room for much profits.
Additionally, military exports was Russias 2nd biggest source of revenue, and that appears to not only have gone away, but been replaced by the need to import military goods.
Lastly the remaining stockpiles of Soviet legacy equipment are drying up, which means more and more of Russian industrial capacity must switch to supporting military operations.
Interested to see how that effects the civilian population and their needs.
This thing reads like an Indian street urchin wrote it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.