RE:RE:Winners and losersruble is trading at 56 to 60 to 1 USD, it seem russian ruble had recovered beyond pre war level, like back to 2018 level.. It seem Russia is doing fine.
For now, customers in India and China are picking up cargoes of Russian oil shunned in the West, and cheaper because of it, according to industry data and traders. Russian oil exports were back to their pre-invasion average in April, according to a report this month from the International Energy Agency. Russian oil's Achilles' heel: insurance (msn.com) Look like $100-110 oil is not hurting demand yet.
Experienced wrote: Obscure1 wrote: Winners:
China and India:
They are buying oil at a significant discount to what the west is paying which gives them a significant competive advantage. They are developing Russia as a long term low cost and reliable supplier as Putin has insured that Russia has no where else to turn.
Russia:
Russia keeps producing and receives as much for its oil now as it did in the past because the discounted prices that it receives is offset by higher overall prices. Russia is simply shifting its customer base to the east sooner than later.
OPEC:
Saudi and its partners just smile and keep quiet
Losers:
Europe:
Decades of poor planning and arrogance have put Europe in its nervous postion
USA:
While its energy trade is bubbling, the nation is faced with unstoppable inflation while plunging into a recession. Stagflation is grabbing America by the throat.
Canada:
All dressed up and no place to go. Without any leadership, Canada will continue to flounder.
Nice Summary