A very concerning “You Could See This Coming From A Mile Away” new Security Council (SC) report circulating in the Kremlin today states that after Crown Prince Mohammed bin Salman “arrested top Saudi royals for plotting with the Americans against the King”, a chill swept across the leadership in Saudi Arabia when security forces detained dozens of Interior Ministry officials, senior army officers and others suspected of supporting this coup attempt—and while rounding up these coup plotters, Crown Prince bin Salman turned his full wrath on the United States in what is being described as “the oil market equivalent of a declaration of war”—an all-out oil war that now sees Crown Prince bin Salman destroying OPEC as he floods the world with oil to crush US shale oil producers—the same US shale oil producers who were previously warned “need a miracle” if they have any hope of surviving the market bloodbath about to wash over them. [Note: Some words and/or phrases appearing in quotes in this report are English language approximations of Russian words/phrases having no exact counterpart.]
According to this report, the present crisis unfolding around the world began within the 60-year-old non-government organization known as the Organization Of The Petroleum Exporting Countries—more commonly known by its acronym OPEC, and sometimes OPEC+ when Russia participates in joint actions with its members—and in the OPEC+ configuration, sees its two largest oil producing nations being Russia and Saudi Arabia—a Russia that’s in a good position to withstand any oil price slump as its budget breaks even at a price of $42 a barrel and the Ministry of Finance has squirreled away billions-of-dollars in a rainy-day fund—as opposed to Saudi Arabia whose government is almost entirely dependent on oil to fund government spending, and the economic impact of any oil price slump will be immediate—and is the same Saudi Arabia that desperately needs another primary energy source in the relatively near future because it has nowhere near the amount of oil remaining that it has stated since the early 1970’s.
Over the past two months, however, this report details, China, the world’s largest importer of oil from OPEC+ nations, drastically cut its energy needs in response to the coronavirus outbreak—thus creating a global glut of unused oil that’s slashed its price to near 10-year lows—that then led OPEC, on 5 March, to announce that they had agreed to drastically cut oil production in order to stabilize its price—and agreement, however, OPEC made the day before Russia joined these talks.
Upon joining the now OPEC+ talks in Vienna-Austria on 6 March, this report explains, Russia pointed out to its members that the United States, in 2018, became the largest oil producer in the world—who just last month, also saw its net petroleum exports hitting their highest level ever recorded—is the same United States that has repeatedly placed sanctions on Russian oil and gas producers in attempts to take out one of their main competitors, to include their last month targeting the multi-billion-dollar Russian-German gas pipeline project Nord Stream II—as well as these American having placed oil sanctions on oil producing giants Venezuela and Iran—and is the same United States oil producing giant, that in spite of its global oil market manipulations, isn’t itself prepared to cut its own oil production to stabilize its price—as they insanely believed that the other oil producing nations in the world would just roll over for them—but which Russia told the OPEC+ members at this meeting it wasn’t going to do—thus igniting what is now being called an “Oil Price Armageddon”.
In unleashing this “Oil Price Armageddon”, this report continues, Russia flat out told OPEC+ member nations that not only wouldn’t oil production be cut to stabilize its price so American oil producers can avert the inevitable doom awaiting them—because they have more than $200 billion of debt maturing over the next four years, starting with more than $40 billion in 2020—Russia is going to ramp up oil production to slash its price even further—the response to then saw the United States attempting a military coup in Saudi Arabia, as only by the Saudis drastically cutting oil production can the price be kept artificially high—but when this coup attempt failed yesterday, it saw Crown Prince Mohammed bin Salman starting his own all-out oil war to destroy OPEC by flooding the world with oil to collapse its price even further—an all-out war that will see Saudi oil production likely to rise above 10 million barrels a day in April, from about 9.7 million a day this month—and who could raise oil production much higher if needed, even going to a record of 12 million barrels a day—thus causing some oil experts from around the world to say that “the time has come for Saudi Arabia and Russia to snatch the title of largest oil producing country from United States”—a target, however, that can’t be achieved without plunging crude oil prices below $40 a barrel which will force many US shale oil companies to shut down their operations.
American oil producers slamming into unsustainable “Debt Wall”…
…have already begun filing for bankruptcy in record numbers.
As is most often seen in an America where its citizens are repeatedly pummeled by mainstream propaganda leftist news media distorted headlines, like one today about the present crisis that hysterically says “Russia Yanks A Leg From U.S. Shale’s Three-Legged Stool”, this report concludes, President Donald Trump, at least, appears to facing it like one would expect the leader of the world’s largest oil producing nation to do—best exampled when after Trump was confronted with headlines say such true things as “Thousands Of Houston Jobs Could Be Cut If Oil Fails To Recover From Friday Plunge”, he sent out his top White House economic advisor Larry Kudlow to declare: “We are in the camp that wants timely and targeted micro-measures”—a declaration though couched within the economic turmoil being caused by the coronavirus, sees Trump unmistakably knowing that the targeted bailouts of his nation’s oil producers is rushing towards him—as his only other choice is war against Russia and Saudi Arabia to keep oil prices high—which one can’t imagine a businessman like him doing—but that doesn’t include the dangerous idiots in the US military and intelligence communities who just tried to stage a coup in Saudi Arabia—and one hopes Trump can regain control of before anything worse happens.
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