I know Russia is getting cucked but that's really it. What else is there? It's certainly good for China and India (oil importing nations in general).
>>71432532
Its fucking over the US and Brazil as well.
>>71432532
I heard Russia was going to try communism again.
>>71433469
yea, I ask that here but everyone treated me like a dumb, I also heard that not so long ago about their communist party strengthening
>>71433283
How is it fucking with you guys?
It hasn't yet killed off all fracking or made it clear enough that they can drop the price of oil as needed for any of those still considering fracking.
They're not the kings of oil anymore.
They're trying to remain competitive in an expanding market as more drilling technology becomes available.
>>71434023
Really? I thought /pol/ would br all over it.
>>71434377
Tracking and shale oil are on the decline because oil is too cheap to make a profit. It costs too much too refine.
>>71432532
Why isn't oil plummeting?
It's gone up $1 or $2 after there was no deal made to decrease production
>>71433469
>>71434023
>>71435525
There was an archived topic on it, something that a majority of Russians want Communism back
>>71432532
They're trying to maintain their market share.
>>71436537
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W
Production has barely fallen.
>>71436852
It's cheaper to sell at a loss than it is to close up a drilling operation.
>>71436537
>>71436852
Isn't shale just a fraction of your oil production?
>>71437214
Yes, but like any technology it will get more efficient as time goes on. What the Saudis are doing isn't killing our economy, but it is hurting their competition.
>>71432532
Well. Saudi Arabia won't cut production until Iran does so also.you have to remember both of these countries hate each other. So one is not going to let the other get larger individual market share. Russia wants to cut to raise prices, but can't cut unless everyone else does. Plus Saudi Arabia sees Russia as a threat to their market share as well. All at the same time the low prices should be hurting the growth of the fracking industry in the U.S. It has without a doubt hurt it, but it also made fracking firms adapt and become more cost efficient. So the massive shut down that OPEC was gunning for in the U.S didn't happen.
The major problem for the wahabi'sis that they subsidise almost every public service and good for their people. Werner it be school, gas, electricity, etc. Now that prices are low there reserves to pay for those subsidies are drying up quickly. Which means they will need to increase taxes and cut subsidies. This is a "tight" move by them and could lead to serious economic consequences and also serious social ones like riots.
>>71435328
This. They raise the price and everyone will dust off the equipment and drill here again.
