Thursday, April 2, 2020
Russia and Saudi Arabia agree to oil production cut
Reuters is reporting that "Crude prices posted their biggest-one day gains on record on Thursday after President Donald Trump said he expects Russia and Saudi Arabia to announce a major oil production cut, and Saudi state media said the kingdom was calling an emergency meeting of producers to deal with the market turmoil. Trump said he had spoken to Saudi Crown Prince Mohammed bin Salman, and expects Saudi Arabia and Russia to cut oil output by as much as 10 million to 15 million barrels, as the two countries signaled willingness to make a deal."
I'm going to hammer CBS's fraudulent COVID-19 report home but before I do that I will comment on the oil Fraud since the Rothschilds funded the Communist revolution in Russia.
Before the price of oil dropped, Saudi and OPEC asked Russia to agree to cut production so the price of oil would rise. Russia said no so the Saudis shorted the stock and flooded the market so the price would drop. Russia caves in so they cash in on the short, reinvest in the oil and cut production so it returns to above normal rates just like they originally wanted. This is where greed becomes obscene. It is haram. However, Russia claims no specific deal has been achieved.
Let's not forget that the war in Syria was about rival pipelines. That is what it was about.