International [Oil & Gas News v2] Freezing Weather Is Knocking Out Millions of Barrels of U.S Oil Output

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Previous thread: Oil & Gas News v1: U.S becomes the world's largest oil and gas producer.
 
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OPEC+ to cut oil production by 2 million barrels per day to shore up prices
By Sam Meredith | WED, OCT 5 2022



A group of some of the world’s most powerful oil producers on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in crude prices despite calls from the U.S. to pump more to help the global economy.

OPEC and non-OPEC allies, a group often referred to as OPEC+, decided at their first face-to-face gathering in Vienna since 2020 to reduce production by 2 million barrels per day from November.

Energy market participants had expected OPEC+, which includes Saudi Arabia and Russia, to impose output cuts of somewhere between 500,000 barrels and 2 million barrels.

The move represents a major reversal in production policy for the alliance, which slashed output by a record 10 million barrels per day in early 2020 when demand plummeted due to the Covid-19 pandemic. The oil cartel has since gradually unwound those record cuts, albeit with several OPEC+ countries struggling to fulfill their quotas.

Oil prices have fallen to roughly $80 a barrel from more than $120 in early June amid growing fears about the prospect of a global economic recession.

The production cut for November is an attempt to reverse this slide, despite repeated pressure from U.S. President Joe Biden’s administration for the group to pump more to lower fuel prices ahead of midterm elections next month.

International benchmark Brent crude futures traded at $92.82 a barrel during Wednesday afternoon deals in London, up around 1.1%. U.S. West Texas Intermediate futures, meanwhile, stood at $87.37, almost 1% higher.

OPEC+ will hold its next meeting on Dec. 4.

Energy analysts said the actual impact of the group’s supply cuts for November was likely to be limited, with unilateral reductions by Saudi Arabia, the United Arab Emirates, Iraq and Kuwait likely to do the main job.

What’s more, analysts said it is currently difficult for OPEC+ to form a view more than a month or two into the future as the energy market faces the uncertainty of more European sanctions on non-OPEC producer Russia — including on shipping insurance, price caps and reduced petroleum imports.

https://www.cnbc.com/2022/10/05/oil...duction-cuts-in-a-bid-to-shore-up-prices.html

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Inside the White House’s failed effort to dissuade OPEC from cutting oil production to avoid a ‘total disaster’



The Biden administration launched a full-scale pressure campaign in a last-ditch effort to dissuade Middle Eastern allies from dramatically cutting oil production, according to multiple sources familiar with the matter.

But that effort appears to have failed, following Wednesday’s crucial meeting of OPEC+, the international cartel of oil producers that, as expected, announced a significant cut to output in an effort to raise oil prices. That in turn will likely cause US gasoline prices to rise at a precarious time for the Biden administration, just five weeks before the midterm elections.

On Wednesday morning, OPEC+ oil ministers meeting in Vienna agreed to an even larger production cut than the White House had feared — 2 million barrels per day, beginning in November, according to a readout of the meeting released on Wednesday. The ministers said the cuts were necessary “in light of the uncertainty that surrounds the global economic and oil market outlooks.”

President Joe Biden told CNN’s Arlette Saenz on Wednesday that he was “concerned” about the cuts, which he viewed as “unnecessary.” Secretary of State Antony Blinken told reporters when asked about the move that “when it comes to OPEC, we’ve made clear our views to the OPEC members.”

For the past several days, Biden’s senior-most energy, economic and foreign policy officials were enlisted to lobby their foreign counterparts in Middle Eastern allied countries including Kuwait, Saudi Arabia, and the United Arab Emirates to vote against cutting oil production. Wednesday’s production cut amounts to the largest cut since the beginning of the pandemic and could lead to a dramatic spike in oil prices.

Some of the draft talking points circulated by the White House to the Treasury Department on Monday that were obtained by CNN framed the prospect of a production cut as a “total disaster” and warned that it could be taken as a “hostile act.”

“It’s important everyone is aware of just how high the stakes are,” said a US official of what was framed as a broad administration effort that is expected to continue in the lead up to the Wednesday OPEC+ meeting.

The White House is “having a spasm and panicking,” another US official said, describing this latest administration effort as “taking the gloves off.” According to a White House official, the talking points were being drafted and exchanged by staffers and not approved by White House leadership or used with foreign partners.

In a statement to CNN, National Security Council spokesperson Adrienne Watson said, “We’ve been clear that energy supply should meet demand to support economic growth and lower prices for consumers around the world and we will continue to talk with our partners about that.”

For Biden, a dramatic cut in oil production could not come at a worse time. The administration has for months engaged in an intensive domestic and foreign policy effort to mitigate soaring energy prices in the wake of Russia’s invasion of Ukraine. That work appeared to pay off, with US gasoline prices falling for almost 100 days in a row.

But with just a month to go before the critical midterm elections, US gasoline prices have begun to creep up again, posing a political risk the White House is desperately trying to avoid. As US officials have moved to gauge potential domestic options to head off gradual increases over the last several weeks, the news of major OPEC+ action presents a particularly acute challenge.

Watson, the NSC spokesperson declined to comment on the midterms, saying instead, “Thanks to the President’s efforts, energy prices have declined sharply from their highs and American consumers are paying far less at the pump.

https://www.cnn.com/2022/10/04/poli...tion-cuts-gasoline-prices-midterms/index.html
 
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Saudi Arabia lowers oil prices for Europe but raises them again for the US as White House says OPEC+ is siding with Russia

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Saudi Arabia is raising oil prices for the US market again, while lowering them for Europe and leaving them largely unchanged for Asia.

November shipments of Arab Light crude to Asia from state-run producer Saudi Aramco will remain steady at $5.85 per barrel above benchmark prices. A Bloomberg survey estimated prices in Asia, the kingdom's top market, would rise by $0.40 per barrel.

Elsewhere, Saudi Aramco hiked prices by $0.20 a barrel for all US grades, while northwest Europe and the Mediterranean saw declines. While Asian prices for the company's light oil was flat, its medium and heavy-grade crude prices ticked up in Asia by $0.25.

Last month, Saudi Aramco also lowered prices in Europe and raised them in the US.

The latest shakeup in prices comes a day after OPEC+ slashed its production quota by 2 million barrels per day, or roughly 2% of global oil supply.

The cut was seen as a defeat for President Joe Biden, who has been pressing OPEC's de facto leader Saudi Arabia for an output boost that would ease fuel prices.

On Wednesday, the White House accused OPEC+ of "aligning with Russia" by lowering its quota, which comes at a time when "maintaining a global supply of energy is of paramount importance."

Analysts are noting the heightened political environment of OPEC's moves, as fresh European sanctions on Russian oil loom later this year as well as a price cap on Moscow's crude.

"This is hugely political and a very clear signal of OPEC's discontent regarding the price cap," Amrita Sen, chief oil analyst at Energy Aspects, told the Financial Times. "Regardless of whether the price cap is actually effective, they see this as a dangerous precedent."

https://markets.businessinsider.com...-us-europe-russia-opec-production-cut-2022-10
 
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Some Democrats push to punish Saudi Arabia after OPEC+ move to cut oil production
Updated October 6, 2022



Some Democrats in Congress are furious about OPEC+'s decision to cut production by 2 million barrels of oil per day starting next month, and are calling to reexamine ties with key oil producers, and even withdraw U.S. military support from Saudi Arabia and the United Arab Emirates.

A trio of House Democrats all in competitive reelection contests — Pennsylvania Rep. Susan Wild, Illinois Rep. Sean Casten and New Jersey Rep. Tom Malinowski — called the move "a hostile act" and a "turning point" in the relationship between the U.S. and the two Gulf states late Wednesday night and introduced legislation to remove U.S. military support from the two countries.

Malinowski told NPR that he believes the move was "deliberate" to hurt the U.S. as it supports Ukraine in the war the Russian invasion and deserves a swift response. In an interview Thursday, he said, "I just don't see any good reason for us to maintain troops that are there almost solely for the purpose of protecting their oil fields and their security interest. It just doesn't make sense to me."

Malinowski said "there's no question that MBS [Mohammed bin Salman], particularly the crown prince of Saudi Arabia, shares Putin's worldview more than he shares ours. He doesn't appreciate American advocacy for democracy in the world."

Legislation uses U.S. military support as leverage
The New Jersey Democrat said the bill is "an exact copy" of a bill that Senate Republicans pushed when Trump was in the White House to give him leverage when the Saudis were producing more oil to push the price down to harm U.S. production. He said GOP lawmakers at the time were on board and the threat of pulling out military support worked then and he hopes they will support this effort. Malinowski has spoken with officials at the White House and State Department, but declined to describe their reaction.

Democrats were divided on whether it was a good idea for President Biden to travel to Saudi Arabia and meet with the leadership over the summer. Malinowski said, "I felt that the trip was ill advised. I didn't think we'd get much from it. At the same time, I didn't think the Saudis would go to these lengths to screw us."

The number 2 Senate Democratic leader, Sen. Dick Durbin, tweeted sharp criticism of the Saudi royal family, saying they have "never been a trustworthy ally" and "it's time for our foreign policy to imagine a world without their alliance."

According to a recent report from the White House to Congress, roughly 2,700 U.S. personnel are deployed to Saudi Arabia to protect U.S. interests and protect against hostile action from Iran or Iranian-backed groups. There are roughly 2,000 troops in the UAE.

The decision is already having an impact on gas prices, which had been trending down in recent weeks. According to AAA, the national average for regular gasoline rose from $3.831 per gallon to $3.867 just a day later, due to tight supply and steady demand. With the midterm elections less than 5 weeks away and the country facing record high inflation Democrats were already concerned that economic concerns would help fuel the ability of Republicans to retake one or both chambers of Congress. The GOP is favored to win a majority in the House of Representatives, and control of the Senate is a jump ball, with tight races in a small number of swing states.

Last month an effort pushed by Sen. Joe Manchin, D-W.Va., to include legislation reforming the permitting process for energy projects to a government funding bill was blocked, facing bipartisan opposition. Manchin tweeted that the OPEC+ decision called for a renewed effort to find agreement on the issue to decrease American dependence on foreign oil.

https://www.npr.org/2022/10/06/1127212442/democrats-saudi-arabia-opec-cut-oil-production
 
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There seem to be multiple signals suggesting that the world is aware that, once again, America isn't in the driver's seat for hydrocarbons. Europe has banked heavily on green energy, the US is following in its footsteps, and powers that recognize that the world is still addicted to hydrocarbons are doing whatever the fuck they want because they know they're necessary.

I'll be curious to see what kind of effective response the US can offer. The reality is, they need the Saudis on their side to control the region. That puts them in a tough spot, and as far as I know that hasn't changed. Otherwise they would have likely kicked that shitty regime to the curb a long time ago. The US chopping a leg off in the hydrocarbon business just makes the Saudis more secure relative to the US, not less, as far as I can tell.
 
There is an easy solution to this problem if only they would use it. Ramp up DOMESTIC PRODUCTION, and make it easy on Americas Hat, Canada, for production as well.

You don't need to like it, but until a miracle occurs with solar and wind or you drop your nuclear phobia and we spend billions on electrical infrastructure upgrades, we are stuck with petroleum. And anyone trying to FORCE the issue by bullying the supply side is an idiot who will make more people suffer for longer.
 
U.S. Shale Won’t Fill Gap If OPEC+ Cuts Oil Production
By Julianne Geiger - Oct 04, 2022

2022-10-04_p3h640nrm8.jpg

The U.S. shale industry won’t step in to fill the gap left by an OPEC+ crude oil production cut, energy executives told Reuters on Tuesday.

OPEC+ is set to review on Wednesday its production plans for November—and the industry consensus is that OPEC+ could consider slashing its output by anywhere from 500,000 bpd to more than a million barrels per day. While some in the industry have pointed out that cutting its targets isn’t the same as cutting actual production, the fact that the group’s most prolific oil producer, Saudi Arabia, is producing to its current target means that any production cut would at a minimum result in a production decrease from The Kingdom.

And energy executives are saying that OPEC+ remains in control of the market, and that U.S. shale can’t step in to compensate for any production declines.

“Nothing is going to ramp up fast,” Andy Hendricks, CEO of driller Patterson-UTI, told Reuters. Most companies have 2023 drilling plans nearly set in stone, inflation has increased equipment costs, and labor has grown increasingly difficult to find.

The U.S. shale industry has been a competent counter to OPEC actions, at least in recent years, ramping up when OPEC cut production—a perfect counterbalance to keeping prices in check.

But those days are over, oil and gas CEOs told Reuters on Tuesday, and crude oil prices—and gasoline prices—could rise substantially if OPEC+ announces production cuts later this week.

“If OPEC cuts a million barrels a day, I think gas prices would go back up to $6 a gallon,” John Catsimatidis, CEO of United Refining Company, told Reuters.

Gasoline prices in the United States were up on Tuesday to $3.805 per gallon—up from $3.747 per gallon, according to AAA data.

https://oilprice.com/Latest-Energy-...ont-Fill-Gap-If-OPEC-Cuts-Oil-Production.html
 
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Norway To Boost Oil & Gas Production As It Expects Record 2023 Revenue
By Charles Kennedy - Oct 06, 2022

2022-10-06_st2wmc6lkc.jpg

Western Europe’s biggest oil and gas producer, Norway, expects its oil and liquids production to rise by 15% next year with the second phase of the Johan Sverdrup oilfield development and the start-up of the Johan Castberg oilfield, the government said in its draft budget on Thursday.

Natural gas production in Norway, which supplies around 25% of the gas consumed in the EU and the UK, is expected to rise by 8 percent in 2022 compared to 2021, the government’s latest estimates showed.

“The energy crisis in Europe makes Norwegian gas sales even more important for Europe than before,” Norway says.

Revenues from petroleum activities are expected at $132 billion (1.4 trillion Norwegian crowns) – a record high – in 2023, compared to an expected $113 billion (1.2 trillion crowns) for 2022, and nearly five times higher than the 2021 revenues from oil and gas, according to the government’s budget draft. The high expected income from petroleum activities will mostly reflect expected high oil prices, and especially gas prices, as well as a weaker exchange rate for the Norwegian crown.

Earlier this year, Norway’s authorities approved applications from operators to boost production from several operating gas fields, to allow higher gas production as its key partners, the EU and the UK, scramble for gas supply ahead of the winter.

The new oil and gas development projects will help Norway maintain a relatively high level of oil and gas production until 2030 and continue to be a stable energy supplier to Europe, Norway’s Minister of Petroleum and Energy, Terje Aasland, said, commenting on the budget.

However, Norway needs continuous efforts from operators on the shelf to increase production, develop new fields, and make new discoveries in order to offset a natural decline in production from operating oil and gas fields over time, Aasland said.

https://oilprice.com/Latest-Energy-...uction-As-It-Expects-Record-2023-Revenue.html
 
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BP looks to North Sea, U.S. shale for near-term oil and gas boost
By Ron Bousso | October 7, 2022

skynews-bp-petrol-fuel_5852357.jpg

LONDON, Oct 7 (Reuters) - BP (BP.L) is targeting the North Sea and U.S. shale basins to boost oil and gas supplies in the short term in response to the global energy crisis, its head of oil and gas operations told Reuters.

BP aims to cut its oil and gas output by 40%, or 1 million barrels of oil equivalent per day (boed), between 2019 and 2030 as part of its strategy to slash greenhouse gas emissions and build up a large renewables business.

But the company has boosted its spending on oil and gas in 2022 by $500 million in response to soaring energy prices and a supply crunch following years of under investment in the sector and in the wake of disruption to Russian supplies of gas to Europe.

BP is focusing its short-term output growth in the North Sea, where it produces around 130,000 boed, as well as shale fields in the United States, which produced 317,000 boed in the first half of the year, BP head of Production and Operations Gordon Birrell told Reuters.

"We're pulling forward some North Sea projects," Birrell said. One such project is the Murlach field, Birrell said.

Mulach, which is planned to start production in June 2025, will be connected to the existing Eastern Trough Area Project (ETAP) platform some 7 kilometres away, according to development plans BP submitted in April.

"Every one of our big fields has investment opportunities that we are doing as much as we can to move forward in time,"

BP became a major producer in the onshore U.S. shale basins following a $10.5 billion acquisition from BHP in 2018.

The company has invested heavily in technology to reduce the carbon emissions from its shale operations, known as BPX, including by electrifying drilling rigs in the oil-rich Permian basin, Birrell said.

"The development phase is ongoing and we are putting more capital into that in response to the energy crisis," he said. "Some of it is going straight into drilling and production, some of it going into reducing emissions of the facilities.”

"Production will keep growing in BPX, we want to keep growing that business," he said.

https://www.reuters.com/business/en...-us-shale-near-term-oil-gas-boost-2022-10-07/
 
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Norway has announced it will receive help from the United Kingdom, Germany and France to patrol the seas around its oil and gas platforms, following major leaks blamed on sabotage on the subsea gas pipelines from Russia to Europe.

 
It's a nice flex from them. Forces us to show and prove how much we're willing to spearhead this anti-Russian coalition. Economic warfare at its finest -- how long will Americans subsidize EU oil consumption before domestic backlash forces a change in direction?
 
U.S. Shale Won’t Fill Gap If OPEC+ Cuts Oil Production
By Julianne Geiger - Oct 04, 2022

2022-10-04_p3h640nrm8.jpg

The U.S. shale industry won’t step in to fill the gap left by an OPEC+ crude oil production cut, energy executives told Reuters on Tuesday.

OPEC+ is set to review on Wednesday its production plans for November—and the industry consensus is that OPEC+ could consider slashing its output by anywhere from 500,000 bpd to more than a million barrels per day. While some in the industry have pointed out that cutting its targets isn’t the same as cutting actual production, the fact that the group’s most prolific oil producer, Saudi Arabia, is producing to its current target means that any production cut would at a minimum result in a production decrease from The Kingdom.

And energy executives are saying that OPEC+ remains in control of the market, and that U.S. shale can’t step in to compensate for any production declines.

“Nothing is going to ramp up fast,” Andy Hendricks, CEO of driller Patterson-UTI, told Reuters. Most companies have 2023 drilling plans nearly set in stone, inflation has increased equipment costs, and labor has grown increasingly difficult to find.

The U.S. shale industry has been a competent counter to OPEC actions, at least in recent years, ramping up when OPEC cut production—a perfect counterbalance to keeping prices in check.

But those days are over, oil and gas CEOs told Reuters on Tuesday, and crude oil prices—and gasoline prices—could rise substantially if OPEC+ announces production cuts later this week.

“If OPEC cuts a million barrels a day, I think gas prices would go back up to $6 a gallon,” John Catsimatidis, CEO of United Refining Company, told Reuters.

Gasoline prices in the United States were up on Tuesday to $3.805 per gallon—up from $3.747 per gallon, according to AAA data.

https://oilprice.com/Latest-Energy-...ont-Fill-Gap-If-OPEC-Cuts-Oil-Production.html

Energy executives are for max profit....
Anything else is empty words......


And how might be told bullshit intended for mainstream media users and random gamblers?

Like phrase for plebs...
Rised price for U.S and lowred for E.U.

Elect Trump. He had lulled Death Prince ( read OPEC in reality is Death Prince cos other OPEC countries fears from him a lot ) with possible weapons sales deal.....
And then had kicked Death Prince ( OPEC de facto ruler ) in the balls.....


Elect Trump again, Death Prince and Iran &Russia then according to dreamers will deliver for you cheap fuel.
And profit hungry western corps will agree to sell gor you very cheap gasoline. For sure...
Cos idol Trump had managed to fuck relationships with Canada, Saudis & Co + with Turkey.....:D
GOP idol. Plus had used as marketing tool for plebs drilling permits signed by Obama and dropped demand cos covid...prohibitions...:D
 
It's a nice flex from them. Forces us to show and prove how much we're willing to spearhead this anti-Russian coalition. Economic warfare at its finest -- how long will Americans subsidize EU oil consumption before domestic backlash forces a change in direction?

What stuff of hypocrity level you have?

What kind of " subsidising " is selling crude oil for price abowe market price in U.S?

Is this cos you are delusional?

IMHO you are...

Maybe better U.S had really agreed that they are 0.
0.
Forever.
Not to talk lies ( U.S like USSR is empire of lies )

For refinery more close to my location fuel supplier is Norway, Kuwait and Saudi Arabia...
LNG = Quatar.


__
You really should stop to lie here despite you are moderator......


Maybe we should stop subsidise ppl like you located in U.S?
With $ for promises to deliver weapons.
With waste of $ for LNG with high price?

I agree.
We better had formed alliance with China and India....
Why not?
U.S predators are getting huge profits from LNG sales to EU, liars are like helix to sell IRL weapons....
U.S should piss off, stopped to get profits from europe and agree that they aren't even 4 th number force in the world.

And should use their food stamp USD only in their hole U.S.


Subsidisers....with xxxx b profit.

YEAH...
 
What stuff of hypocrity level you have?

What kind of " subsidising " is selling crude oil for price abowe market price in U.S?

Is this cos you are delusional?

IMHO you are...

Maybe better U.S had really agreed that they are 0.
0.
Forever.
Not to talk lies ( U.S like USSR is empire of lies )

For refinery more close to my location fuel supplier is Norway, Kuwait and Saudi Arabia...
LNG = Quatar.


__
You really should stop to lie here despite you are moderator......


Maybe we should stop subsidise ppl like you located in U.S?
With $ for promises to deliver weapons.
With waste of $ for LNG with high price?

I agree.
We better had formed alliance with China and India....
Why not?
U.S predators are getting huge profits from LNG sales to EU, liars are like helix to sell IRL weapons....
U.S should piss off, stopped to get profits from europe and agree that they aren't even 4 th number force in the world.

And should use their food stamp USD only in their hole U.S.


Subsidisers....with xxxx b profit.

YEAH...
I think you're misunderstanding my post. OPEC cut production, which is going to affect both the US and Europe, probably Europe more than the US. Lower supply, higher prices. Also, OPEC raised the prices on the US, while lowering the prices on Europe...for the 2nd time.

What is the effect of this? It means that Europe gets a blunted economic impact from the OPEC decision. How does OPEC offset the lost revenue from lowering European prices? By making US consumers pay it with higher prices. Higher prices to the US offset the lower price to Europe. That's essentially OPEC using the US consumer to subsidize the European consumer.

Why would OPEC do this instead of raising the prices on both Europe and the U.S.? To keep Europe from getting too mad and to see how long the US will eat the higher price as a cost of maintaining its position in the Ukraine. If the US consumer balks at the price increase and puts pressure on leadership, Biden and the Democrats might feel that they need to alter their approach to the Ukraine in order to keep the domestic voter happy.

That's economic warfare at its finest, imo.
 
I think you're misunderstanding my post. OPEC cut production, which is going to affect both the US and Europe, probably Europe more than the US. Lower supply, higher prices. Also, OPEC raised the prices on the US, while lowering the prices on Europe...for the 2nd time.

What is the effect of this? It means that Europe gets a blunted economic impact from the OPEC decision. How does OPEC offset the lost revenue from lowering European prices? By making US consumers pay it with higher prices. Higher prices to the US offset the lower price to Europe. That's essentially OPEC using the US consumer to subsidize the European consumer.

Why would OPEC do this instead of raising the prices on both Europe and the U.S.? To keep Europe from getting too mad and to see how long the US will eat the higher price as a cost of maintaining its position in the Ukraine. If the US consumer balks at the price increase and puts pressure on leadership, Biden and the Democrats might feel that they need to alter their approach to the Ukraine in order to keep the domestic voter happy.

That's economic warfare at its finest, imo.
The most horrible stuff for west is IF they will allow for Ukr to get submitted...
Cos this is just 1 very small step in Russia's eurasian empire dreams.
From the same " just Poland " U.S id getting for software licenses alone more than from Russia....
Not to count service fees .....etc stuff....etc....

___
The stuff is also cos one thing is mainstream traders and forex like more betting character prices and another thing is long term contracts.....done in person and on paper.
____
It is easy to tell: not support Ukr...
Sell Russia Moldova and Ukr and Georgia....initially.

While if Ukr will get 404, even the same Germany might get 10x or more refugees....
Not alone that Poland and Baltic countries are larger more than 4X economy than Ukr and with larger number of inhabitants than Ukr...plus food export to eurozone etc perks here.
__/_
A lot of euro customers had made deals with Death Prince in Saudi and these rich rulers in Quatar and Kuwait. Plus with Norway....Ofc this will increase prices.

OPEC price rising attempt ofc is predicted move.
 
Energy executives are for max profit....
Anything else is empty words......


And how might be told bullshit intended for mainstream media users and random gamblers?

Like phrase for plebs...
Rised price for U.S and lowred for E.U.

Elect Trump. He had lulled Death Prince ( read OPEC in reality is Death Prince cos other OPEC countries fears from him a lot ) with possible weapons sales deal.....
And then had kicked Death Prince ( OPEC de facto ruler ) in the balls.....


Elect Trump again, Death Prince and Iran &Russia then according to dreamers will deliver for you cheap fuel.
And profit hungry western corps will agree to sell gor you very cheap gasoline. For sure...
Cos idol Trump had managed to fuck relationships with Canada, Saudis & Co + with Turkey.....:D
GOP idol. Plus had used as marketing tool for plebs drilling permits signed by Obama and dropped demand cos covid...prohibitions...:D
The other OPEC countries don't fear MBS. They fear Arab Spring 2.0 starting in Riyadh
 
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