OPEC

The ominous element in this more than ominous situation revolving around the center of world petroleum and natural gas reserves, the Middle East, is the fact that in the recent weeks oil prices, which had temporarily stabilized at an already low $40 range in December, now have plunged another 25% to around $29, outlook grim. Citigroup has forecast $20 oil is possible. Goldman Sachs recently came out saying that it may take lows of $20 a barrel to restabilize world oil markets and get rid of the glut of supply.

5/5 (5) A busy week for the Nefarium as Russia is sending it more unwelcome news in the form of a Russian oil benchmark. Here's F. William Engdahl's take:
Russia Breaking Wall Street's Oil Price Monopoly…
The post NEWS AND VIEWS FROM THE NEFARIUM JAN 14 2016 appeared first on Giza Death Star.

Press TV – December 23, 2015 The Organization of the Petroleum Exporting Countries (OPEC) says recovery of global oil prices to above $70 per barrel will not take place for another four years. According to a report released by OPEC on Wednesday, the organization, which produces a third of the world’s crude, said it foresees a […]

The Saudis can’t intellectually understand the see-saw of incoherent Beltway policies due to the power struggle between Zionist neocons and the old establishment. No wonder they might be tempted to move to the Russian side of the fence. But for that to happen there will be many a price to pay.
The post What’s the Big Deal Between Russia and the Saudis? appeared first on BSNEWS.

RT | November 24, 2014 Russia is losing around $40 billion a year due to Western sanctions, but they are not as critical to the economy as lower oil prices, which add $90-100 billion in losses, says Russian Finance Minister Anton Siluanov. “We lose about $40 billion a year because of the political sanctions and […]

After a series of headline-grabbing statements about the possibility of “switching” European consumers over to American gas, the US media hastened to announce the launch of Obama’s oil and gas offensive against Russia. In reality the EU is not currently prepared, neither technically nor in terms of price, to buy its energy resources from the US. It would take at least ten years to adapt even the technically advanced German energy system to work with American gas supply. In a crisis, when it is particularly urgent to see a quick return on an investment, such projects are unrealistic.

Press TV – November 12, 2013

The list of US spying targets now includes the Organization of the Petroleum Exporting Countries, a new report reveals.
The US National Security Agency and the UK’s Government Communications Headquarters infiltrated OPEC’s computer systems to access an internal study in the organization’s research division, the German newspaper Der Spiegel reported, citing documents provided by American whistleblower Edward J. Snowden.