OPEC+ Cuts 2 Million BO Sending the Message to Joe Biden.. FU!
Notas del episodio
00:12 How does OPEC+ Cuts Effect Middle East?
00:43 Joe Biden Ups his rhetoric saying OPEC sided with Russia
03:05 Iran backed Houthi Rebels Escalates war and threaten Saudi Arabian Oil infrastructure!
03:41 Why America supported Saudi Arabia in the War in Yemen 04:12 Why we rely on Saudi Arabian Oil
06:56 Joe Biden ending his support for Saudi has caused Houthi attacks to escalate
09:05 US Shale Oil & Gas is dying and now without Shale hyper growth OPEC+ can control oil once again
The OPEC+ Cartel has gone to war with the West causing oil prices to be upward charged and increased the instability in the middle east as American Saudi relations die.
The Biden Administration along with mainstream media has connected the OPEC+ cartel as a Russian puppet. The worst thing you can do is demonize the very organization that can pull us out of a recession by reducing energy prices. Talking about cutting off the hand that feeds you!
Once Biden knew Saudi's were not going to help the left in the midterms the gloves came off and this OPEC+ 2M BOPD CUT was the straw that broke the camels back!
One of the many examples of America turning their back on their former Saudi allies is they failed to broker the peace talks between Saudis, Yemen & Iran causing the peace treaty to end. Now the Houthi rebels are increasing their war efforts and threatening Saudi Arabian Oil and Gas fields.
What is to come makes Nord Stream seem like a walk in Disney Land... Well, maybe Disney is not the best comparison anymore :)
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Ironic and admin that has tried to suppress and lower their production is upset that another country would lower theirs
It is all about getting gas prices down before mid-term elections next month
Releasing the most SPR reserves in history - drawn down by 1/2 - it's only for emergency - threatening the stability of the Salt Caverns if you keep producing
Spare capacity - EU oil embargo begins Dec 5th -
IRAN Nuke deal is dead
It's now time for oil prices to reflect fundamentals
Oil inventories have dropped 130M BO despite SPR release and China Covid Zero policies - without those factored we would 300M BO Inventory Drop
Oil Demand Loss due to Recession will be offset by China emerging out of Covid Lockdowns - fuel switching : record amounts of oil will be used vs nat gas for power - 700k - 1 m BOPD demand increase.
Great Financial crisis demand dropped by 2% today that's 2 million BO - just china emerging from lockdowns and fuel switching will negate 75% of that