[Trumpinator]

Quantity has a quality all its own. I don't think the Saudis realized who they were playing chicken with on the oil market.

[Alter Kaker]

That would be impressive if the Russians weren’t losing money on every barrel of oil drilled given today’s market and their high cost of production. Unfortunately for them, there’s a glut of oil on the market and they’re screwed as a result.

[umgud]

Bump

[DJ MacWoW]

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[familyop]

"The increase in production reported November 2 reflects Russia's strategy of defending its market share..."

As if buyers would be scarce. LOL! Thanks to Russia for its assistance in defeating its own expansionism by helping to keep oil prices low.

[familyop]

The Saudis are only waiting long enough to see production drop further in other countries outside of Saudi states and Russia (where production has already fallen). The buffer between world production and consumption is less than 2 million barrels and closing. World consumption continues to increase (mostly in China and India—new drivers, etc.), while world production continues to decrease. That’s the reason for so much chatter (propaganda) from international trade investors for the purpose of keeping oil prices down for the time being.