Zibago
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So how will Americans treat Saudi demand of supporting them without conditions in Yemen and hushing up on criticism of MBS?Russian oil have no affect on US oil price, because it does not affect the stock level as much.
Current estimation for US oil import from Russia is 700,000-750,000 barrel a day, that may seems like a big number to you, but if you compare the daily US oil consumption, which is 18.2 million barrel a day, that number represent 0.02 or 0.03% of daily oil use in the US.
Use of oil - U.S. Energy Information Administration (EIA)
The types and amounts of petroleum products consumed annually in the United States, and a list of the top 5 gasoline consuming states.www.eia.gov
The reason of the price hike is more toward the European side, Nord Stream 2 suspension and eventually cancellation and the shifting of supply to Europe is the reason why the prices goes up, and sanctioning Russia oil and gas industry will not make it stabilise. The only way we can hurt the Russian Oil and Gas industry is for us and Saudi to increase oil and gas production. Which is being done now.
If and when US ramp up the production, that would soothe the demand, and price go down, and Russia can't sell shit because they no longer have the infrastructure to do so. They can try to dump it on China but China can only take a certain amount of oil and gas, they can't take them all.
Insight: Saudi crown prince plays the oil card in quest for U.S. recognition
Saudi Arabia's crown prince says he simply doesn't care whether Joe Biden misunderstands him.
www.reuters.com
Ukraine crisis will have implications for both Yemen and Syria and there are so many directions where this could go