of the crisis, filing for Chapter 11 bankruptcy protection amid the major drop in oil prices.
Over the last few weeks, the pressure on the oil market has boiled down to supply and demand: demand for fuel has plummeted as people around the world stopped traveling and working as a result of the coronavirus, and supply will skyrocket as Saudi Arabia and Russia ramp up production and cut prices.between two oil-producing giants, Russia and Saudi Arabia, rocked global markets just as demand began to plummet during the coronavirus outbreak.
theothersarahh There's a hoax at the gas pump since everyone is mostly locked up...
theothersarahh Negotiating oil peace between two foreign actors is more important than acting as a 'war time' leader and organizing and mobilizing supplies for our workforce to combat this tremendous attack on society.
theothersarahh They are producing 12M barrels / day. They are going to go down to 2M b/d? Doubtful.
theothersarahh I hate that this pic of a bunghole is on my feed
theothersarahh 'Talked up' = lied.
theothersarahh Amazing that Russia was able to avoid this virus. 🤔
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Trump says expects Russia-Saudi oil deal soon, invites U.S. oil chiefs to White HouseU.S. President Donald Trump said he has invited U.S. oil executives to the White House to discuss ways to help the industry 'ravaged' by slumping energy demand during the coronavirus outbreak and a price war between Saudi Arabia and Russia. Why do we need oil when we're not driving anywhere again? so many dying then we talk about OIL. USA1
Source: Reuters - 🏆 2. / 97 Read more »
U.S., Russia energy officials had 'productive' talks about oil market plungeU.S. Energy Secretary Dan Brouillette spoke with his Russian counterpart Alexander Novak about the slump in global oil markets on Tuesday, and they agreed to hold future discussions involving other major world oil producers and consumers, the U.S. Energy Department said in a release. Where were the Saudis... in the ambit of the American officials? It good American are also implicitly trying to help the Iranians of course .... with oil prices.
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Trump says Russia, Saudi Arabia will work out oil disputePresident Donald Trump on Wednesday said he was confident Russia and Saudi Arabia would resolve an oil-price dispute that has damaged the industry. 'I have... TrumpCriminalNegligence Meh let it keep the cost of oil low, people cannot afford extreme gas prices again.
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U.S.-Saudi oil alliance idea born at White House, put on back burner for nowTop U.S. officials have for now put aside a proposal for an alliance with Saudi Arabia to manage the global oil market, according to three sources with knowledge of the matter, an idea one of them said came from White House national security advisers. A few weeks ago, proposals for Washington to work
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Chinese buyers snap up U.S. oil purchases at widest discounts everChina has increased U.S. crude purchases with some buyers snapping up cargoes at the widest discounts ever as sellers seek to offload excess supplies in Asia, six trade sources said on Wednesday. Might as well reap a benefit over the economic crash they caused. Keep buying that oil for your factories. No one is ever going to buy your shit ever again hahaha!
Source: Reuters - 🏆 2. / 97 Read more »