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What causes the extreme drop in oil and gas prices? And who wants to crush russias only income?

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Prices of crude oil are down on their own, nobody did no harm to Russia in this field. OPEC on the other end is involved too into this whose member countries have lost money. Russia on the other hand sells lot of weapons whereas Qatar, Angola and other smaller OPEC members don't.
 
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zzzz said:
Nobody offer friendship for thugs, nazi and terrorist supporters. You will have to do a lot to deserve that. Before that you will be our b*tch and cash cow. Of course there will be no oil and gas supply on previous terms anymore, the supplies will be reduced for at least next 10 years and will be rerouted to China. This is the punishment. You can forget about growth. In about 5 years when the world starts to feel real shortage of gas and oil the EU will start to collapse. We will offer gas and oil only for selected countries that would agree to join Eurasian Union.
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your " friendship" is worthless. You have nothing we want nor can you offer us anything substantial. The oil and gas prices we pay you dropped recently. We tell you the price we want to pay and you have to accept since you dont even have a pipeline to send china oil. we dictate the price. Thanks for the cheap gas amigo. Your cheap energy helps to hold my body in perfect contest shape. :)

narcon said:
Prices of crude oil are down on their own, nobody did no harm to Russia in this field. OPEC on the other end is involved too into this whose member countries have lost money. Russia on the other hand sells lot of weapons whereas Qatar, Angola and other smaller OPEC members don't.
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Russias economy gains more than 70% from oil and gas. Weapon sells dont generate profits to feed a nation. Russia depends more on oil and gas than nigeria.
 
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MarkusS said:
your " friendship" is worthless. You have nothing we want nor can you offer us anything substantial. The oil and gas prices we pay you dropped recently. We tell you the price we want to pay and you have to accept since you dont even have a pipeline to send china oil. we dictate the price. Thanks for the cheap gas amigo. Your cheap energy helps to hold my body in perfect contest shape. :)



Russias economy gains more than 70% from oil and gas. Weapon sells dont generate profits to feed a nation. Russia depends more on oil and gas than nigeria.
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I am aware of this 70% figure, but who has engineered the price fall?
Its free market will!
 
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narcon said:
I am aware of this 70% figure, but who has engineered the price fall?
Its free market will!
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saudi arabia pumps pil like no tomorrow to flood the market with oil and drop the price.
 
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thesolar65 said:
Agreed...at the end of the day we get cheap fuel. Common man in India & Pakistan does not care where Oil comes from. Time for both nation and China also to store as much oil as possible.

BTW we are having another Rs.2.50 drop in petrol and diesel price tonight or next day. What about yours??
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Our Rs. 2.5 drop is equivalent to Rs 25 in Pakistani currency.
 
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More and more production of Oil specially in United states comes online plus the usage of technologies making vehicles and other forms of transportation using fuel more efficient is the reason for this price drop. Arabians have been actually cutting the production not increasing it.
 
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While its good for oil importers (including Pak & Ind), here's what RT has to say about it;

"Russia’s state budget for 2015 requires oil at least at $100 a barrel. Still, the Kremlin is borrowing no more than $7 billion in 2015 from the usual “foreign investors”, plus $27.2 billion internally. Hardly an economic earthquake."

"
The House of Saud’s target of trying to bypass Russia as a top supplier of oil to the EU is nothing but a pipe dream; EU refineries would have to be reframed to process Saudi light crude, and that costs a fortune."

Source
​The Saudi oil war against Russia, Iran and the US — RT Op-Edge

And
‘Saudi policy of downplaying oil prices to backfire on them’ — RT Op-Edge

sputnik said:
Our Rs. 2.5 drop is equivalent to Rs 25 in Pakistani currency.
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1 Indian Rupee equals 1.68 Pakistani Rupee
 
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_44770685_oil_price_466.gif


amazing how Russia and Venezuela are crying over oil being under $100 when just 10 years ago it was just $40
hell raise them prices so we can develop shale and tar sands, and make us move towards electric cars.

best move the cartel can do is strike balance in pricing and balance would be $70 to $80 dollars.
Russia and Venezuela are just going to have cut back on the welfare programs or produce more oil, not so easy for the latter though.
 
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no need to get so exited, @MarkusS, this is a cyclical correction. Fact is that demand is set to grow and grow and grow. Or do you honestly think oil will go back to 40/barrel and stay there forever or even sink further ?
 
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Give up on the conspiracy theories, guys. Lower global demand, with more supplies coming on line at the same time. If it looks profitable, capitalists will go after it (producing oil). You get a glut, price drops. No backroom deals necessary.

Saudi Arabia tried in the 90s to keep prices up by dropping production. They got burned then, they aren't going to do that again. So... we see a bidding war that drives prices lower.
 
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