Russia. All that concerns Russia.Аnswers questions citizen of Russia. (cost, country)

[DKM]

Russia doesn't honor its commitment to the Saudis and OPEC? Shocker. I guess we won't be seeing Putin getting a royal welcome in Riyadh anytime soon. Good thing for Russia they banked much of their oil funds because they are going to need them very soon. This pain will be felt far and wide. I wonder how far the ruble will fall to, 70?

[Scrat335]

Originally Posted by DKM

Russia doesn't honor its commitment to the Saudis and OPEC? Shocker. I guess we won't be seeing Putin getting a royal welcome in Riyadh anytime soon. Good thing for Russia they banked much of their oil funds because they are going to need them very soon. This pain will be felt far and wide. I wonder how far the ruble will fall to, 70?

I heard they were discussing cutting production, no decision has been made yet.

[DKM]

Originally Posted by Scrat335

I heard they were discussing cutting production, no decision has been made yet.

Then you need more up to date news sources. The Russian government said there will be no more limits to production.

[Maksim_Frolov]

It seems that Russia is refusing to reduce oil production. I wonder why? Cheap oil will hit the Russian economy, and it’s interesting what they conceived.

[Maksim_Frolov]

Awesome strings (never met it before)!

Мой товарищ, в смертельной агонии
Не зови понапрасну друзей.
Дай-ка лучше согрею ладони я
Над дымящейся кровью твоей.

Ты не плачь, не стони, ты не маленький,
Ты не ранен, ты просто убит.
Дай на память сниму с тебя валенки,
Нам еще наступать предстоит.
--------------
My comrade, in your death-agony
Don't call your friends in vain!
Instead let me warm my palms
Over your steaming blood.

Don't you weep, don't moan, You are no small child
You are not hurt, you have simply been killed.
Let me take off your boots as a keepsake,
For we shall yet have to advance.

(c)https://en.wikipedia.org/wiki/Ion_Degen

[DKM]

Originally Posted by Maksim_Frolov

It seems that Russia is refusing to reduce oil production. I wonder why? Cheap oil will hit the Russian economy, and it’s interesting what they conceived.

I believe Putin thinks he will play economic war with American oil producers this way. Lower oil prices will drive down American oil production. It's an expensive way to hit us but he can do it if he wants as long as the cash reserves hold out. Its not like Russian people deserve their own money I guess. It won't hurt our economy though as this will be offset by lower energy prices.

[Zimogor]

I congratulate all the ladies present here on International women's day. Happy Holiday!


https://s1.tchkcdn.com/g-vYbbOadaaVH...40e5_zzsdj.jpg

[Scrat335]

Originally Posted by Maksim_Frolov

It seems that Russia is refusing to reduce oil production. I wonder why? Cheap oil will hit the Russian economy, and it’s interesting what they conceived.

Oil only counts as 10 percent of the gdp. With the changes in the past in taxes, government spending and diversification of the economy these last few years it allows Russia to be flexible and that is power. Saudi Arabia and other OPEC nation's do not have that flexibility.
Russia can call a lot of shots and it knows it.

[grega94]

Originally Posted by Scrat335

Oil only counts as 10 percent of the gdp. With the changes in the past in taxes, government spending and diversification of the economy these last few years it allows Russia to be flexible and that is power. Saudi Arabia and other OPEC nation's do not have that flexibility.
Russia can call a lot of shots and it knows it.

Yeah I think after 2014 Russia has made it its objective to take the “title” so to speak of world’s leader of oil from the Saudis and punish them the roll they played in destabilizing oil markets.

[Scrat335]

Originally Posted by grega94

Yeah I think after 2014 Russia has made it its objective to take the “title” so to speak of world’s leader of oil from the Saudis and punish them the roll they played in destabilizing oil markets.

Along with other things such as OPEC countries involvement in the Syrian theatre. Most have proxies in the battle and seem to have no regard to the concerns of Russia in the situation. No respect or cooperation shown, no respect or cooperation returned.

Lower prices are going to hurt US shale oil production too.

Russia went the road of cutting the fat when it comes to trying to be accepted by the west and since there is only abject servitude offered there is little reason not to put Russia first in all matters.