Energy ministers from the world's two largest oil producers, Russia and Saudi Arabia said on Monday that their countries had agreed to act together to lift the price of oil out of its two-year slump, though they provided few details as to how they planned to achieve that goal. Read full article
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They can frack off, the world needs cheaper energy and wealth should not go in the pockets of despots and dictators. Frack Frack Frack…Sep 06th, 2016 - 09:00 pm - Link - Report abuse 0
They use expressions like restrain an excessive volatility, stabilise markets, co-operation and balance......what they mean is price fixing to suck FX from the rest of the world.Sep 07th, 2016 - 08:15 am - Link - Report abuse 0
The problem they have is that it can't work any more because as soon as the price reaches X the American frackers just crank up their capability having laid dormant without great cost while the price was so low.
The best the Saudis and Russians can hope for is to co-operate to bring the price up to a level short of X
It's further complicated by Iran now pumping up supply to make up for years of lost sales. When Maduro finally gets the boot and oil companies invest in Venezuela again the game will truly be up.
Fucking with Mr. Market NEVER works in the long run, he always comes back to bite you, always.Sep 07th, 2016 - 12:34 pm - Link - Report abuse 0
Hang on a mo Mr Putin,Sep 07th, 2016 - 01:02 pm - Link - Report abuse 0
are they not supposed to be our friends,
how the world is changing, so they say.