Falling oil prices boost Japanese economy by USD 59 billion !

[AgentOrange]

Unfortunate for Russia. I hear buckwheat porridge is making a comeback on Russian dinner tables.

 

[Aepsilons]

Unfortunate for Russia. I hear buckwheat porridge is making a comeback on Russian dinner tables.

 

[AgentOrange]

Unlike peasant foods in other countries that turn out to be quite hearty and delicious, Russian peasant food looks kind of unappetizing. Just my opinion though.

 

[Yizhi]

this gives CCP more room to maneuver in the coming reforms.
russia is a tough cookie anyway, they'll suffer, but no collapse in my opinion....

 

[Aepsilons]

Unlike peasant foods in other countries that turn out to be quite hearty and delicious, Russian peasant food looks kind of unappetizing. Just my opinion though.

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Buckwheat porridge ? Interesting. Our departmental secretary, she's Russian, eats that during lunch. Never fails to bring home cooked food all the time. She also always tries to offer me borscht. I tried it but...not my cup of tea.

 

[Chinese-Dragon]

The point is that if KSA lowers oil prices by a huge margin - say under $40, they will kill the shale producers and ensure that long term prices of oil remain higher than what is now.
For KSA, short term pain is long term gain.
For us, its long term pain.

Also, Saudi is trying to grab market share from Russia and Iran.

They are betting that their enormous currency reserves will let them last longer than their rivals without having to cut oil production.

They can sell at cheap prices for longer (i.e. sustain losses for longer), it's the kind of price warfare that is common in the business world.

 

[Judge]

Also, Saudi is trying to grab market share from Russia and Iran.

They are betting that their enormous currency reserves will let them last longer than their rivals without having to cut oil production.

They can sell at cheap prices for longer (i.e. sustain losses for longer), it's the kind of price warfare that is common in the business world.

Yes, but the flip side is that unlike other companies in the business world, if KSA succeeds, the rest of the world will suffer.
The sheer magnitude of this problem is overwhelming.

KSA and other Arabs making less money is vital for not just the global economy but also global peace. The single largest funding to the terrorists and funding for spreading the ideology comes from the Arab world - both Governmental level and Individuals.

Therefore KSA being able to kill off the shale producers by lowering the prices now is not good for us(the rest of the world) in the long term.

 

[ahojunk]

Also, Saudi is trying to grab market share from Russia and Iran.

They are betting that their enormous currency reserves will let them last longer than their rivals without having to cut oil production.

They can sell at cheap prices for longer (i.e. sustain losses for longer), it's the kind of price warfare that is common in the business world.

Yes, but the flip side is that unlike other companies in the business world, if KSA succeeds, the rest of the world will suffer.
The sheer magnitude of this problem is overwhelming.

KSA and other Arabs making less money is vital for not just the global economy but also global peace. The single largest funding to the terrorists and funding for spreading the ideology comes from the Arab world - both Governmental level and Individuals.

Therefore KSA being able to kill off the shale producers by lowering the prices now is not good for us(the rest of the world) in the long term.

I wonder when the west will start anti-dumping steps/measures against KSA, if at all.
LOL

 

[Cossack25A1]

Philippines is #1 winner ... @Cossack25A1 , is the price of oil substantially cheaper now than say... last year? If so, how much is the difference ?

Well the oil prices is lower but sadly, it won't change anything as corruption, poverty and low FDI due to restrictive policies are issues that are yet to be tackled seriously; welfare system and mediocre service are not the solution.

The world's biggest winners and losers from cheap oil, in one chart
The world's biggest winners and losers from cheap oil, in one chart - Fortune

That chart is only statistics, unless economic policies are changed and modified, there will only be slow improvement for the Philippines.

 

[Timur]

in german news they said oil price is as low as 80ies.. but we end consumer don't feel it

I know I payed 90-93 cent for 1 L Diesel in 2004 and in 2003 it was under 90 cent

but I found a site with old prices it hurts when I see it

Dieselpreise von 1950 bis Heute

you can say 1 DM ~ 0,5 EUR