Military Review

“The bottom of the crisis has passed”: Saudi Arabia pushes OPEC to increase oil production since August 2020

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OPEC provides information that if the growth in oil demand continues in the coming weeks, then the organization can go on easing measures to reduce oil production. Recall that at the moment, the so-called OPEC + deal is in effect (it is often called the OPEC ++ deal due to the entry into the contract of the USA and Canada).


Representatives of the OPEC group say that they are being pushed to increase production of “black gold” already in August. This is taking place against the backdrop of growing demand after the removal of a number of restrictions previously introduced against the backdrop of a pandemic. The main initiator of the increase in oil production is Saudi Arabia.

At the same time, it is noted that at one time it was Saudi Arabia that more actively than others insisted that oil-producing countries go to reduce the volume of oil production. Now, Riyadh is among the first to advocate the abolition of a number of restrictions on oil production - mainly according to the bar set by the OPEC + agreement.

Oil producers are optimistic about the report released recently by the International Energy Agency. The report states that the “bottom of the crisis has passed” and the worst effects of the pandemic have passed:

The market is slowly recovering after a long fall.

World oil producers are currently trying to get rid of excess oil in storage. The faster this happens, the more actively the oil market will recover.


The fixed price of Brent crude this weekend is $ 43,24. With such oil prices, Russia does not need to withdraw funds to maintain macroeconomic stability from reserve funds.

16 comments
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  1. New
    New Year day 12 July 2020 08: 05 New
    +7
    We got it with our oil and the price of it! We are not a Gas Station! We have a developed economy, which is completely independent of oil prices. laughing
    1. mag nit
      mag nit 12 July 2020 08: 26 New
      +5
      The Russian economy depends on gas prices for Russian citizens.
  2. Mavrikiy
    Mavrikiy 12 July 2020 08: 05 New
    -3
    Saudi Arabia pushes OPEC to increase oil production since August 2020
    Our motto: “Always!” (12 chairs). Let the US kick. recourse But I think the United States is not ready yet. Prices .... request
  3. Mikhail m
    Mikhail m 12 July 2020 08: 19 New
    -3
    Russia does not need to withdraw funds to maintain macroeconomic stability from reserve funds.
    Russia needs to run around the world for investments, mainly in raw materials industries. In the industry with high added value, no one is going to invest, competitors are not needed. Let Europe and the states use the stash.
  4. Gennady Fomkin
    Gennady Fomkin 12 July 2020 08: 59 New
    0
    The bottom of the crisis has passed ”: Saudi Arabia has been pushing OPEC to increase oil production since August 2020. If the fountain and the feathers would be cool, then. But such fountains have long been over. The era of pumps has come. laughing laughing
    1. Doctor
      Doctor 12 July 2020 09: 33 New
      0
      The era of pumps has come.

      Rather, even the press. wink
  5. Junior Warrant Officer
    Junior Warrant Officer 12 July 2020 09: 01 New
    +3
    Dumb Saudis understand absolutely nothing in the internal financial cuisine of the Russian Federation.

    For the prosperity of the Russian economy and increase the volume of the national welfare fund, we need a constant increase in gas prices in the domestic market.

    This can only be achieved by unilaterally increasing hydrocarbon production and selling them on the world market at prices above $ 150.

    In order to prevent the Saudis from interfering in our hydrocarbon schemes, I propose, on the basis of our adopted amendments to the Constitution, to launch a nuclear missile strike on them.
  6. Gennady Fomkin
    Gennady Fomkin 12 July 2020 09: 02 New
    +1
    Once a country of camels and their shepherds. laughing Rashid ibn Saeed Al Maktoum, Sheikh and Emir of Dubai: “My grandfather rode a camel, my father rode a camel, I ride a Mercedes, my son drives a Land Rover, his son will ride a Land Rover, but his son will ride camel "
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  8. Gennady Fomkin
    Gennady Fomkin 12 July 2020 09: 05 New
    -3
    I have always been very doubtful of the intellectual abilities of the Saudis. Having such a fabulous gift from Allah, they so stupidly ordered them. Cracking on rotten show-offs and rotten ambitions a whole sea of ​​oil ... For this, you need to have a special brain structure that does not imply the functionality of a long-term planning of your life. wassat
    1. Doctor
      Doctor 12 July 2020 09: 35 New
      0
      I have always been very doubtful of the intellectual abilities of the Saudis. Having such a fabulous gift from Allah, they so stupidly ordered them. Cracking on rotten show-offs and rotten ambitions a whole sea of ​​oil ...

      And what to take from them. Desert Children ... wink
  9. Gennady Fomkin
    Gennady Fomkin 12 July 2020 09: 42 New
    -1
    In KSA, there are approximately 2 syringes, about 500 of whom are direct descendants of the Prophet and have the right to the throne. Relations in serpentarium are more soulful and humane than in this "family". Nobody will let Muhammad pull the gold reserves to zero, and if King Salman dies, then he will simply be torn to pieces.

    At a price of 9 bucks for the Urals and 12 for Saudi Light in 2024, Putin will be in Russia, but Mohammed will no longer be in KSA for sure. Evaporate ... laughing
    1. alone
      alone 12 July 2020 11: 01 New
      +1
      Quote: Gennady Fomkin
      KSA approximately 2 pryntsy, about 500 of which are direct descendants of the Prophet and have the right to the throne.

      The race of the Prophet is called Hashimite. They sit on the throne of Jordan. The Saudi dynasty has nothing to do with the Prophet Muhammad .. They are Wahhabis.
      Quote: Gennady Fomkin
      At a price of 9 bucks for the Urals and 12 for Saudi Light in 2024, Putin will be in Russia, but Mohammed will no longer be in KSA for sure. Evaporate ...

      May be. I won’t argue .. Well, the Saudis still have export of propylene and polystyrene, which provides 10% of the world’s needs .. and don’t worry about the powerful. . Problems at such prices will begin with ordinary citizens .. but not with Putin or the prince
  10. Aleks2000
    Aleks2000 12 July 2020 09: 47 New
    0
    And so it went to this.
    Worse than the other. No one is going to the Media alarmists who promised the collapse of OPEC, the USA, the buck, the Saudis and others, to somehow punish ...
    They will continue to write "expert" articles ....
  11. Gennady Fomkin
    Gennady Fomkin 12 July 2020 09: 49 New
    -1
    Nothing, Husitian effective managers will come and optimize the Saudi budget at its best laughing
  12. 123456789
    123456789 12 July 2020 11: 59 New
    +3
    “The bottom of the crisis has passed”

    when suddenly they knocked from below
  13. NICK111
    NICK111 13 July 2020 22: 04 New
    0
    Nothing passed.
    Chicks in the fall and count, but not in September, a little later.
    There is no bottom and there is no technical pause, reconfiguration of the mechanism of the “necessary correction”, no more.