They are the second and third largest producers after the US.
Posted on 12/06/2023 4:13:02 AM PST by FarCenter
MOSCOW, Dec 6 (Reuters) - Russian President Vladimir Putin will meet Crown Prince Mohammed bin Salman in Saudi Arabia on Wednesday, during a rare trip abroad, to discuss oil production, OPEC+ and the wars in the Gaza Strip and Ukraine.
Putin's meeting with the prince, known as MbS, comes after oil prices fell despite a pledge by OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, to further cut output.
(Excerpt) Read more at reuters.com ...
I thought he died multiple times
Between his advanced elbow cancer and arrest warrants from the ICC, the man sure gets around.
Oil peaked at $93 on Sept. 27th, and has dropped steadily down to $72 today
Good, keep Russia poor
He gets to fly cargo rate, since he sleeps in a casket these days.
Regardless or irregardless of any health issues, Putin is old by Russian standards. Doesn’t sound like he lives the life of the average Russian male , but still it will be interesting when he does die and the fight for control that will ensue
but he only visits countries with lousy human rights records
“his peeps”
The Russian economy is growing unlike those in the NATO nation. The sanctions hurt them, not Russia. Just one more liberal mess the elites have created.
Why would he visit people who commit war on the world?
When is he due to arrive in Canada?
“but he only visits countries with lousy human rights records”
That means he should be visiting Canada and Biden’s US very soon.
This trip may have more to do with Putin’s negotiations with Iran for their support than it has to do with Saudi Arabia.
Also, Putin may tell the Saudis that Iran is forcing him to give them nuclear weapons and delivery systems and if SA doesn’t do (fill-in-blank) he’ll be forced to do it. This visit lets Iran know that whatever fire they’re holding his feet to may not be as hot as they think it is. He has a fist full of powerful cards to play if he’s willing. Something tells me there’s no card he won’t play to get his way.
Biden visited the Kingdom early on in his Administration begging the Saudis to increase production. All he got was a fist bump.
The Saudis and Russians are the world’s two biggest exporters of oil. This sounds like a strategy meeting to increase oil revenue.
I thought Putin had a warrant out against him & he couldn’t leave Russia.
They can raise revenue by cutting production
It would have to be a group decision
>>I thought Putin had a warrant out against him & he couldn’t leave Russia.
Saudi Arabia, the United Arab Emirates and the United States are not members of the International Criminal Court.
https://asp.icc-cpi.int/states-parties#S
They are the second and third largest producers after the US.
Supply and demand 101. The Saudis have already extended their 1 million bbls a day cut thru 2024. Russia has already reduced production by 500,000 bbls a day. More cuts are needed to increase the price of oil.
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