20200308-Oil Price Armageddon (2)

Whatdoesitmean:


Failed United States Military Coup In Saudi Arabia Explodes Into Oil Market Declaration Of War

Correction:   (Wendy) Yesterday I wrote that the US military moved in to Saudi to support the Saudi King and the Crown Prince.   But that was not the case and I misunderstood.   The US military was actually supporting the coup that tried to overthrow the King and the Crown Prince.   The people in the coup opposed the King’s decision to cut oil production to maintain oil price since production cut means lost revenue.

-A very concerning 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” plotters, he was furious with 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.

Russia accused US of asking OPEC to cut production to maintain oil price but not cutting its own production that currently reaches highest level in the world

-Upon joining the now OPEC+ talks in Vienna-Austria on 6 March, 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—while 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

—In spite of its global oil market manipulations, US oil producers aren’t prepared to cut their 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”.   

-Russia said it wouldn’t cut oil production to stabilize its price so American oil producers can avert the inevitable doom awaiting them—because the American oil producers 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

-The fail military coup also causing 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  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.

-President Donald Trump confronted with headlines said such true things as “Thousands Of Houston Jobs Could Be Cut If Oil Fails To Recover From Friday Plunge”


- Trump unmistakably knows 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.