FUCKING RUSSIANS STOP FUCKING WITH THE OIL PRICES

thats good for you

You get used to it

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This.
Brainlet.

Based. Can't wait for Kenney to shit himself

Not really. Oil is already super cheap in the US, since a good portion they actually use is discounted Canadian oil. This just bankrupts shale producers. A tactic to cause medium term decline in US production

It's the Saudis you fucking tard look up Aramco

>Buying individual companies
>Not buying a diversified index
>Not buying the entire market and HODL
This is what you get for thinking you know better than the market.
I literally never check my stocks and the money keeps rolling in. You are the idiot freaking at the ticker passing by, and you're probably even poorer than me for your choices.

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OHHHHHH NO NO NO NO NO NO NO AGAINNMNNNN AAAAAAAAAAAAAAAA FUCKKKK

Thank you Corona-chan!

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What is Russia trying to achieve here anyway? Help me understand.

It's over

Make westerners depend on Russia for oil, eliminating the exploitation of smaller countries for their oil. Once proletarian revolution overtakes the third world Russia will cut off the west forcing capitalism in to a death spiral.

>RUSSIANS
It's the Saudis nigga

>The shock-and-awe Saudi strategy could be an attempt to impose maximum pain in the quickest possible way to Russia and other producers in an effort to bring them back to the negotiating table, and then quickly reverse the production surge and start cutting output if a deal is achieved.

>Brent crude, the global oil benchmark, already dived 9.4 per cent to US$45.27 a barrel on Friday, its biggest daily drop since the global financial crisis in 2008, after Russia balked at Opec’s proposed cuts to stabilise prices.

>The production increase and deep discounts mark a dramatic escalation by Prince Abdulaziz bin Salman, the Saudi oil minister, after his Russian counterpart, Mr Alexander Novak, rejected an ultimatum on Friday in Vienna at the Opec+ meeting to join in a collective production cut. After the talks collapsed, Novak said countries were free to pump-at-will from the end of March.

>"Saudi Arabia is now really going into a full price war," said Mr Iman Nasseri, managing director for the Middle East at oil consultant FGE.

straitstimes.com/business/economy/saudis-to-raise-oil-output-beginning-all-out-price-war-amid-coronavirus-crisis

It's bad for shale

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Russia wouldn't agree to production cuts to shore up oil prices in the wake of a coronavirus induced recession, so Saudi Arabia is raising production to punish Russia.

It's over

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>We don't want to profit, we want the rest fail.

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Seats?
explain yourself norway

>Saudi Arabia needs $80 barrel to breakeven

WTF, they're finished already.

Lol Saudis are retards. They're literally doing Putin's work for him.

>Timothy Ash, senior emerging markets strategist at Bluebay Asset Management, said in a research note that Russian President Vladimir Putin “likely wants to take this to the brink, to maximise his own geopolitical leverage to get OPEC Middle Eastern countries coming to him begging to agree to cuts.”

>“I guess then he will ask for concessions elsewhere, e.g. Gulf financing for Syria reconstruction,” Ash said.

oh nonononono

I am looking forward to seeing the stoks of Milan tomorrow

Who here /oilcucknation/

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Wait what wtf happened?

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The whole market and your precious index are about to tank you LARPing midget

FUCK CHINKS
FUCK RUSKIES
FUCK SAUDS
YOU'RE KILL US ALL
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

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We aren't oil cucks. We have enough in reserves to last a lifetime but the jews are using foreign oil to maximize profits

Whenever oil prices drop, Saudis really on the old mega fields that have extremely low cost extraction. But those are running dry and they need $40 to break even when all the fields are considered

We are oil exporters.

weird I thought I was on Yas Forums for a second

Problem with fracking is when the price is too low, they have to shut down fracking sites, which puts people out of work.

of course, they oil is still there to sell another day but in the short term it's expensive to restart a fracking well

ESTAS PERDIDO HERMANO

The problem is that Saudi Arabi uses the oil money to prop up useless Saudi citizens by giving them inflated income jobs working for Aramco and aggressively looks for fields and new tech(this too props up national industrial production) to make sure they can keep pumping at the rate they do. Aka they are fully reliant on being a Petro state, so some years their "breakeven" point can surge to some of the highest in the world in years where oil prices are high.

Russia is trying to bankrupt shale companies in the US and let Syria back into the mainstream arab world. It is either going to be the biggest brain political move pulled in decades or an absolute catastrophe

This will hurt shale jobs which was one of Trump's talking points in job creation. Why is Russia doing this to him? Thought they were in good terms

Will Dow crash by 3,000 points tomorrow?

The end times are here.

Saud's tried to make Ruskies cap their prices.
They said fuck you lol.
The rest of us are collateral.

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It was fun while it lasted. Time to plough the fields for potatoes and eat the same fish every day for the rest of my life.

Coronavirus + lower interest rates

NOOOOOOOOOOOO!!!!

And now Oil, we're also a procuder.

gas prices will go down, will the leftists fags finally shut their mouths tho? I don't think so...

Oil countries are typically in better financial situations than Russia though

Another famine imminent?

It's not because of fracking now.

OPEC negotiations break down. OPEC is a sort of international cartel of oil countries that tries to keep oil prices high. Because Saudis and Russians, both in OPEC, are at each others' throats.

oh shit our economy is going to hell. retarded faggot president started building a new refinery a months ago
fuck fuck fuck

the world
is ending

Nah, Russia got this.

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yeah but half of that is going towards golden statues and chairs for Putin in the Kremlin

Russians are masters of chess and Putin has the best geopolitical advisors by his side. Every single move they make is meticulously calculated.

>Russia defeated Turkey.
>Russia made Zelensky fire his entire cabinet and put pro-Russia ministers in place.
>Now Russia has initiated a massacre on the American shale industry.

Three wins in a row. Russia knows something that we don't.

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It's not like we get shit anyway

>Implying the system will move away from fiat

can't wait for hydrogen to be the new oil

Dump eet

$12 billion worth of gold is nothing tho. Saudi Arabia had a $98 billion deficit in 2014 or 2015 because of the oil price collapse back then

no one thinks that, but it doesn't change the fact that gold becomes absurdly more valuable when shit hits the fan which it will soon

>global collapse in the economy right around the corner
>95% of the threads are still just about shamcoins
Never change, /nu-biz/

>tfw oil fuckers just spoiled feminist womens strike in my cunt
bretty based

120 billion + 440 billion in foreign exchange reserves. In comparison the USA only 40 billion in foreign exchange reserves.

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Yas Forums is just sfw/pol/ and sfw/b/. a shithole

why everyone on Yas Forums(nel) a stock market expert?

Just don't go back to whaling