City & FFP | 2020/21 Accounts released | Revenues of £569.8m, £2.4m profit (p 2395)

[JGL07]

You realise that it´s exactly how Opec wants it... ?

Right now hundreds of domestic producers in say USA are sweating blood because they need a price of $80pb to stay in business.

So misguided.

Unless you are more experienced in the oil market or read more informed publications about it than I do I think we can disregard that comment Eh?

Opec have refused to cut production enough to stop the price drop as they usually do, instead they have created a formidable glut with the intention of driving the price down to the region of $50-60pB which does affects the whole competing fracking industry in a disasterous way.
Russia is affected but just in a non-vital way really as they don´t really need anything from outside their borders.

But feel free to argue your case by all means

I would agree in general but not about your comment about Russia.

Oil exports are crucial to the Rssian economy. The Rouble is in meltdown partially because of the fall in oil prices.

 

[SWP's back]

You realise that it´s exactly how Opec wants it... ?

Right now hundreds of domestic producers in say USA are sweating blood because they need a price of $80pb to stay in business.

So misguided.

Unless you are more experienced in the oil market or read more informed publications about it than I do I think we can disregard that comment Eh?

Opec have refused to cut production enough to stop the price drop as they usually do, instead they have created a formidable glut with the intention of driving the price down to the region of $50-60pB which does affects the whole competing fracking industry in a disasterous way.
Russia is affected but just in a non-vital way really as they don´t really need anything from outside their borders.

But feel free to argue your case by all means

Option A buddy And having met with Neil Gregson last week, my info is fairly current.

 

[SWP's back]

So misguided.

Unless you are more experienced in the oil market or read more informed publications about it than I do I think we can disregard that comment Eh?

Opec have refused to cut production enough to stop the price drop as they usually do, instead they have created a formidable glut with the intention of driving the price down to the region of $50-60pB which does affects the whole competing fracking industry in a disasterous way.
Russia is affected but just in a non-vital way really as they don´t really need anything from outside their borders.

But feel free to argue your case by all means

I would agree in general but not about your comment about Russia.

Oil exports are crucial to the Rssian economy. The Rouble is in meltdown partially because of the fall in oil prices.

he couldn't be more wrong about Russia if he tried.

<a class="postlink" href="http://www.theguardian.com/business/2014/dec/16/russia-has-lost-economic-war-with-west-rouble-currency?CMP=fb_gu" onclick="window.open(this.href);return false;">http://www.theguardian.com/business/201 ... ?CMP=fb_gu</a>

 

[SWP's back]

S04 Russia is wholly reliant on imports they only export oil.

The oil squeeze is seriously killing their economy.

I doubt it´s that bad, the russian economy got almost no debt and as such it just strangles trade in general as there´s a shortage of financing opportunities, but of course the russians have started to create new ties to places like India and China to get around the sanctions.

The sanctions didn't touch them. The US, with OPEC are crippling them.

 

[Manc in London]

S04 Russia is wholly reliant on imports they only export oil.

The oil squeeze is seriously killing their economy.

I doubt it´s that bad, the russian economy got almost no debt and as such it just strangles trade in general as there´s a shortage of financing opportunities, but of course the russians have started to create new ties to places like India and China to get around the sanctions.

The sanctions didn't touch them. The US, with OPEC are crippling them.

Indeed. A blatant attempt by the US and friends to squeeze the pips out of Russia. To be fair to them, it is working a treat.

 

[SWP's back]

I doubt it´s that bad, the russian economy got almost no debt and as such it just strangles trade in general as there´s a shortage of financing opportunities, but of course the russians have started to create new ties to places like India and China to get around the sanctions.

The sanctions didn't touch them. The US, with OPEC are crippling them.

Indeed. A blatant attempt by the US and friends to squeeze the pips out of Russia. To be fair to them, it is working a treat.

Too well if you ask me mate in all seriousness.

 

[S04]

If we take a look at Russias foreign reserves we might notice that it´s shrinking yes, so obviously they are hurting but they still got $420bn stashed away mostly in gold and euros which might very well tide them over a considerable time.

 

[SWP's back]

If we take a look at Russias foreign reserves we might notice that it´s shrinking yes, so obviously they are hurting but they still got $420bn stashed away mostly in gold and euros which might very well tide them over a considerable time.

Tell that the currency markets mate.

They are on the cusp of financial Armageddon if not already in it.

 

[cleavers]

So long as the ordinary russians are struggling to pay for their holidays, it can be no bad thing for the world.

 

[squirtyflower]

So long as the ordinary russians are struggling to pay for their holidays, it can be no bad thing for the world.

a few less of the cunts skiing in February hopefully

fat arrogant twats, then there's the blokes