Saudi Arabia sharply rebukes Russia over oil price collapse

FILE- This Oct. 9, 2018, file photo shows an oil rig and pump jack in Midland, Texas. Goldman Sachs is warning of another sharp drop in oil prices, Thursday, March 26, 2020, saying some oil producers are eventually going to have to shut some wells because the coronavirus outbreak is crushing demand.

Oil prices sharply fell after the so-called OPEC+ group of countries including Russia failed to agree to production cuts in early March. A price war began soon after, with Saudi Arabia threatening to pump at a record-breaking pace to seize back market share even as the coronavirus pandemic saw demand sharply drop as airlines worldwide halted flights.

That anger could be seen early Saturday in two critical statements released by the kingdom’s state-run Saudi Press Agency. The first came from Saudi Foreign Minister Prince Faisal bin Farhan under the headline: “ Statements Attributed to One of Russian President’s Media Are Completely Devoid of Truth.”

He also said an alleged Russian contention that “the kingdom was planning to get rid of shale oil producers” was false as well. U.S. shale producers have made America one of the world’s top producers, but they’ve been hurt badly by the price collapse. Trump has met with concerned producers about that.A second statement came from Saudi Energy Minister Prince Abdulaziz bin Salman, one of King Salman’s sons.

kartel die aan prijs afspraken doet is toch bij wet verboden! Wie in EU spant tegen deze prijsafspraken een rechtszaak aan? Wat Trump doet met zijn tweet, nadat hij sprak met oliehandelaren in US, is in de beurstaal simpel handelen met voorkennis. Dat is verboden! Wie verkocht..

That’s BS. They secretly teamed up to take out the U.S from oil market and they are shocked by the resilience so far. They expected a swift collapse of American oil industry but didn’t realize it will take that long. As always, the Saudis think only after they act.

Keep the fight going, I am loving these low prices.

I was just wondering about Russia. However, it was not about oil prices. What do we know about COVID19 in Russia?

Petty Saudioilco you lapdogs of the west look east no on tells Plaid_Putin what to do real man there!

Saudi Arabia 🇸🇦must be critical of it's destructive actions in Yemen🇾🇪&finish the war. In a multi-polar it's unacceptable for any 'particular'country, regardless it's power try to impose it's economic&political narrative. Russia's🇷🇺rights to protect it's economy are Objective.

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I hope ‘Russur” screwed themselves out of a “deal.”

'Moscow blaming the kingdom*' (*)Kingdom..!? Lol... MbS & MbZ are both assets of Chatham House. They can't even go use the bathroom if they don't get permission from London... LMAO... 😆

LOL

Cheap gas is good gas.

In Alberta, I can get a Starbucks coffee and a barrelof oil for about $10 CDN.

Wars are one way oil prices are raised. Pay close attention as this drags on.

In the year 2020 we face a crisis that is two fold. First, we have the pandemic which is threatening countless lives around the world. Second, we are facing a meltdown on the international markets with millions facing unemployment. Anyone want to hazard a guess on how this ends?

Energy prices going down. Isn't that a good thing? Ohhhh the rich people aren't getting richer. OK

but, this is good though! F oil!

I don’t mind $1.53 for gas

黄丝 GX0Dt8YycHkD2DV · 3h Replying to BBCWorld you still don't know this pandemic is a virus war? this is CCP and WHO work together starting a war that loss one city to win whole world, you don't known that CCP born for defeat USA?Anything they tell you just their trickery.

we're so happy oil thugs are fighting and gas is cheap we're on a road to nowhere come on inside taking that ride to nowhere we'll take that ride i'm feeling okay this morning and you know we're on the corona turnpike here we go, here we go

This is going to end well.

So they're all arguing that the price of oil is too cheap, yet they are still making a profit. Gas never has had to be over 2.00+ a gallon. They've been screwing us for decades...

So much for the great compromise proclaimed by DonTheCon

Meet up and slug it out.

Yeah it was Russia vs. Opec.

Children

King Dumb*

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Saudi Arabia and Russia signal readiness to cooperate on oilSaudi Arabia and Russia signalled on Thursday they were ready to cooperate to help stabilise the oil market after calls with U.S. President Donald Trump to discuss the slump in prices triggered by the end of a deal to curb output and a collapse in demand. ah... great, the cartel expands. How about we do mORE to eliminate competition. Why do you cooperate? I would like Saudi Arabia and Russia to have an oil war for at least one year. The Saudi crown prince has nothing to do with wang huning, a senior Chinese official. The trump gang is playing with Numbers. The Saudi crown prince should continue to retaliate against the russians by fighting an oil war for only a year.
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Oil skyrockets 35% after Trump suggests huge cuts by Saudi Arabia and RussiaInvestors continue to worry about the coronavirus pandemic's impact on the economy. Here's what's moving markets today. It was bound to happen to restart the dead (Shale) fracking. Great. Just what Americans needed. Higher oil and gas prices the same day 6.6 million announced unemployed. Thanks, republicans Yo we gotta figure out a way to keep this idiot from speaking. Seriously.
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Saudi Arabia denies withdrawing from OPEC+ deal, says Russia was the one that withdrewThe Saudi foreign minister said early on Saturday that a statement attributed to Russia's President Vladimir Putin about the kingdom's withdrawal from the OPEC+ deal is not correct, and that Russia is the one that withdrew, state agency (SPA) reported. Blame war has begun 😂 Trump said he had called his good friends and got this all taken care of....
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Trump touts 'great' Saudi-Russia oil deal to halt price rout, but details unclearU.S. President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear. a big manipuation us500 , dow jone now now see , ttrump hanks yestrday and today play with the market What an absurd thing to do right now. 10 million out of work People losing thier insurance Bill's to pay And yes, let's just give a swift kick to gut by artificially increasing gas prices just to please your big oil donors. You are truly an ass
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