RE:Oil price and the RussiansPAGODA5 wrote: So I have been doing some digging throughout the history of oil price shocks either up or down and here is what I get. Saudis always cut production when prices slide precipitously and they ramp up production when the US tells them to quell high oil prices. The last month the Saudis have ramped up production to record levels. Why? Some say it is to bankrupt the frackers.,..perhaps. But maybe, this is a cooked deal. The US is not reliant on OPEC oil near as much as they once were, but the Russians need oil money to fund their country big time.
This is an oil sanction on the Russians! The Saudis don't like Putin, a competitor in the oil markets, more than happy to comply with the US/European request to punish Putin. This is manipulation, pure and simple.
Absoutely, this drop in oil pricing has been orchestrated to punish the Russians. And the people of Russia will actually suffer! For North America its a great opportunity to meet the IMF's (U.S. Run) request to bring volitility back to the market place. As you may have noted, volitility has returned to the entire market. Just not oil !
You don't hear much complaining about the big oil companies pulling out of Russia as they almost seem happy to comply with the U.S.and world communities request to shut down in Russia.