Dipstick.
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 ...
In 2019, Russia was almost bankrupt due to low oil prices. He couldn’t afford to attack Ukraine. Then the moron Biden shut down US oil production and prices rose for Putin to become solvent again.
Now we get to fully financially destroy Russia.
And in other news from Zamin --
Scientists have determined when Earth will become uninhabitable Zamin Uzbeksitan, 03.04.2025
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military exports was Russias 2nd biggest source of revenue, and that appears to not only have gone away, but been replaced by the need to import military goods.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.
The difficult part is determining specifics. Russia has a fair ability to produce military goods. They can shift nearly all export revenue to obtaining the things they cannot make themselves.
The Russians have serious control over their media and thus have the capability to absorb more suffering.
So many intangibles, so difficult to measure.
Fifteen percent of Russian trade is oil and gas. Russia is no longer the proverbal gas station; that would be Saudi Arabia. This has more to do with Saudi Arabia preparing for the fallout from Tariffs; once the dust settles the prices will go up, and up.
You were up early this morning (3AM) posting another Ruzzia, Ruzzia, Ruzzia
Thread. I hope you got paid overtime.
Funny how this account manages to dig up news articles from outlets in corners of the world that only the State Department, Russia Desk, are aware of.
Among tangibles, compare Russia’s national debt, and GDP current and projected, to that of the US
And the historical psyche of respective populations to deal with hard times
This site shows 53% of Russian exports are oil and gas.
https://oec.world/en/profile/country/rus
How are you calculating the 15% figure? Lots of different ways to define “trade”.
Indeed.
When he would post about his previous hobby horse, FoxNews, he used trade information about how Faux was losing market share weekly.
That turned out to be less "fun", so it was a relief for him when the Special Military Operation came along.
The only good Russia is a broke Russia.
Dipstick.
Thanks.
That site seems to confirm the information on the link I sent to you.
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