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JUNE 2020

Kingdom’s Madness: Saudi Arabia Blames Russia For ‘Agressive Actions’ On Oil Market

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Kingdom's Madness: Saudi Arabia Blames Russia For 'Agressive Actions' On Oil Market

Saudi Crown Prince Mohammed Bin Salman. IMAGE: SPA

On April 3, the Saudi-leadership blamed Russia for the instability on the energy market accusing it of launching an oil war.

Saudi Arabia’s official SPA news agency reported the following (source):

The Saudi Minister of Foreign Affairs His Highness Prince Faisal bin Farhan Al Saud said that a statement attributed by media to President Vladimir Putin of the Russian Federation, claimed that one of the reasons for the decline in oil prices was the Kingdom’s withdrawal from the deal of OPEC + and that the kingdom was planning to get rid of shale oil producers.

The Minister affirmed that what was mentioned is fully devoid of truth and that the withdrawal of the kingdom from the agreement is not correct, but that Russia was the one that refused the agreement, while the Kingdom and 22 other countries were trying to persuade Russia to make further cuts and extend the agreement, yet Russia has not agreed.

He also stressed that the Kingdom’s stance on shale oil production is known as it is an important part of energy sources and that the Kingdom is also seeking to reach more production cuts and achieve balance in the oil market, which is in the interest of shale oil producers, contrary to what was issued by Russia and its desire to keep prices low to affect shale oil.

The Minister of Foreign Affairs expressed surprise at the distortion of facts, hoping that Russia would take the right decisions in the urgent meeting on which the Kingdom called yesterday to be held for OPEC + and the group of other countries so as to reach a fair agreement that restores the desired balance of oil markets in order not to subject energy markets to risks again.

In the light of Saudi Arabia’s comments, it’s interesting to recall the chain of events that led to the current crisis. SF already covered it in the analytsis entitled “Saudi-Initiated All-Out Oil War Could Lead To Collapse Of Kingdom Itself” on March 10:

“It all began on March 8 when Riyadh cut its April pricing for crude sales to Asia by $4-$6 a barrel and to the U.S. by $7 a barrel. The Kingdom expanded the discount for its flagship Arab Light crude to refiners in northwest Europe by $8 a barrel offering it at $10.25 a barrel under the Brent benchmark. In comparison, Russia’s Urals crude trades at a discount of about $2 a barrel under Brent. These actions became an attack at the ability of Russia to sell crude in Europe. The Russian ruble immediately plummeted almost 10% falling to its lowest level in more than four years.

Another side that suffered from Saudi actions is Iran. The Islamic country is facing a strong US sanctions pressure and often selling its oil via complex schemes and with notable discounts already.

Saudi Arabia is planning to increase its output above 10 million barrel per day. Currently, it pumps 9.7 million barrels per day, but has the capacity to ramp up to 12.5 million barrels per day. According to OPEC and Saudi sources of The Wall Street Journal, Riyadh’s actions are part of an “aggressive campaign” against Moscow.

The formal pretext of this campaign became the inability of the OPEC+ (a meeting of representatives of member states of the Organization of the Petroleum Exporting Countries and non-OPEC members) to extend output agreements.

Saudi Arabia was seeking up to 1.5 million b/d in further oil production cuts, but this proposal was rejected by Russia. After the inability to reach the new OPEC+ deal, Saudi Arabia became the frist and only power that took aggressive actions on the market. However, it is hard to imagine that Saudi Arabia would go for such an escalation without at least an order or approval from Washington.”

There is no secret in the fact that Russia is the side that did not agree to further cuts of the oil production during the March events. However, Saudi Arabia became the first and only country that started agressive actions on the oil market aiming to damage interests of the other parties.

Such a blatant lie demonstrates the madness of the current Saudi leadership, which is scared by their weak position amid the ongoing crisis developments around the world. The Saudi military is losing the war in Yemen and the Houthis (Ansar Allah) are conducting operations inside the Kingdom itself. The global economy is in the crisis that reduces the demand for energy resources undermining the only real source of income of a majority of the Saudi elites. At the same time, the internal political instability is pushing the Kingdom to the brink of a deep political crisis that may lead to the collapse of the current regime. So, Riyadh is making fierce attempts to cover own failures and agressive actions under the public lies.

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  • good american

    Poor Bonesaw, the incompetent dupe can’t do anything right.

    • Assad must stay

      Hahahaha

    • rightiswrong rightiswrong

      He just doesn’t make the “cut”.

      MBS can’t “hack” it.

      • Gary Sellars

        Yer, MBS just ain’t no chop.

        • rightiswrong rightiswrong

          The first cut is the deepest.

          That’s what he said to Kashoggi on the phone. lol

  • Daniel Martin

    MBS should look himself in the mirror because he and the U.S started this war in 2014 to hurt Russian and Iranian oil industries, now fast forward a couple of years it seems that exactly these two actors are on the receiving end of that big stick. And the irony in it all is that Russia can afford this war for a prolonged tome, whilst Saudi Arabia is bleeding money every day which could spark unrest amongst it’s elites in the country and in worst case scenario the overthrowing of MBS the U.S is absolutely furious with MBS’s uncooperativeness because he is risking to take out the entire shale gas industry in the U.S with his dispute with Russia over the production quotas.

    • Anna24

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      • Mike

        Is that all you Israeli trolls can now muster, spam sites like this with that garbage. I guess jacob whul, iron zion or bob can’t make anymore arguments, seeing how much their imperial patron id flailing like a headless chicken. Thanks to covid and the economic meltdown.

        • rightiswrong rightiswrong

          They were her best customers, she thought it was Azriels shared site. lol

    • igybundy

      Then we have the dynamic duo of moron regimes of israel and the US bio warfare against china/iran and ended up on the receiving end of that as well. With such idiots for enemies, praise jesus they are so brainless and incompetant..

      • Jake321

        Sure, Igor. And where did you say Putz Putin the Poisoner is now hiding to try to not become another Pandemic statistic?

  • Assad must stay

    The sooner Saudis collapse the better for the whole world and humanity in general they have done nothing good for anyone just funding wahhabism and terrorism

    • Icarus Tanović

      This is all true, Wahhabism=Terrorism.

      • Zionism = EVIL

        More like a twin of Zionist evil. Both created by Limey cunts.

    • Pave Way IV

      it’s too valuable to just let it collapse. Yeah, MBS and the al Sauds might be on their way out, but you can bet the US has a Plan B scheme with another U.S.-friendly psychopath picked out. Who’s that UAE dude?

      Worst case, the Saudi revolution will be such a massive clusterfuck that they’ll break Saudi Arabia up into a federation of a half-dozen Arab tribal states. Corrupt, easy to bribe and equally controllable. Either that, or the US will just go in there ourselves and freedomize the place. Maybe grab some land, oil and gold, too. Relax, former Saudi Arabia. It’s only to help finance your ‘reconstruction’ and support your counter-insurgency ops We’re great at that part!.

      https://uploads.disquscdn.com/images/f14a267a1e42171ef249365daabc684164d99cfb33a60138535d70534d263114.jpg

      • Assad must stay

        fuck that,, hopefully USA crashes and burns because of this virus, they do nothing but scam and kill and sanction people, what a HORRIBLE country

        • Zionism = EVIL

          Millions of US Homeless and Poor Are Left on the Crowded Streets During Coronavirus Crisis as hospitals shut their doors

          https://uploads.disquscdn.com/images/ee7e78003f1774c68046b7719956dc2b31a5da553fe14d15c2bf1c54bde959a6.jpg

          • Assad must stay

            so sad, US deserves its miserable fate after killing and bombing and sanctioning so many innocent people

          • good american

            Too bad it won’t be the ones making the decisions that are going to feel it. It will be the innocent, as usual.

          • Séamus Ó Néill

            I’m not sure there’s many innocents, except, perhaps, the children. The average 5/8 American is a xenophobic, racist moron , wallowing in the illusion that they’re exceptional….anything that they want on this planet, they have a right to have whether by theft, murder or whatever. They have casually sprawled in front of a tv, burger in one hand, soft drink in the other and nonchalantly let their government genocide country after country, butchering around 30 million people from the beginning of this century and they’ve said sweet F.A. Americans are now loathed and detested, worldwide and I can’t see that changing anytime soon !

          • Zionism = EVIL

            An average Americunt is an ignorant, selfish, racist arrogant cunt enslaved to the Jew scum. They are worse than parasites. No respect for humanity or the planet. Wars, plunder and delusions of “exceptionalism” and “chosen people”. The dumbass hubris filled arseholes don’t realize that they are hated universally.

          • Zionism = EVIL

            The control of Jew parasites and the inhuman criminal outlaw nature of average mean, evil and greedy Americunts have created the most ruthless capitalist system in history. US operates like a global criminal extortion gang along with NATO arselickers. If anyone challenges their thuggery then they are targeted ruthlessly, but now China and Iran in particular stand up to the thugs and both are large ancient nationalistic nations and not intimidated. The Pimpeovirus will cause the death of Americunt economy and toilet paper dollar, just watch the next few years.

            https://uploads.disquscdn.com/images/5af7fb7dde2dc486c1cdda717a1edd4f2310085d39326ac91b5fec5542f5271b.jpg

          • Séamus Ó Néill

            The great advantages about America collapsing into anarchy, filth and depravity is that in its race to the bottom, it takes the other boot-scrapping slime with it, Israel, KSA, UK etc etc

          • Zionism = EVIL

            This is a very well written and thought out article and more or less expounds on your insightful comment.

            https://platosguns.com/

        • Séamus Ó Néill

          ….and they do it just as easily and liberally to their own people, Pearl Harbour, USS Liberty, 9/11 etc etc and these are only the known ones, they’ve been secretly experimenting on Americans from the very beginning, drugs , radioactivity, mind control, bio-weapons etc etc. It is a completely amoral, satanic cesspit….those people must have emerged straight from the bowels of hell !

          • Assad must stay

            how do they live with themselves? sleep at night? very odd

      • Zionism = EVIL

        California has over a million homeless and more than 20 million people below the poverty level who are now left to die in the streets as coronavirus takes its toll and the government turns its back and hospitals shut their doors to the poor.

        https://uploads.disquscdn.com/images/e4e7774ecf6622319d29d2736aca23adb8fd61faf15189e7bb28e9c51254a327.jpg

      • Astar Roth

        In that case, what Americans wouldn’t like to see, they will not have any control of that Saudi Arabia.

  • johnny rotten

    The Saudi Barbarian on the top.

  • JIMI JAMES

    Russia will do what’s best for infastructures and honest workers worldwide,whilst the sauds are only in it for the nwo/petrodolla and teorrists,in the end may the better peoples prevail,russia cannot lose,no matter what the fake economists of the wests assume,hare on in the best deals win,not the ponzi$!

    • Jake321

      LOL…sure like Putz Putin’s best deal with China giving away Siberia’s vast natural gas reserves to China at a price below cost and tried to the falling price of oil. A regular financial Einstein.

      • Séamus Ó Néill

        It’s Russia’s to give, at whatever price they determine. Anything America, or Israel has got is stolen !

  • Icarus Tanović

    Stupid Wahhabi hypocrites soon you’re going down the drain.

  • Lone Ranger

    Saudisis Arabia will be gone soon.

    • Jake321

      So will you if you don’t stop your Vodka binging, Comrade Pravda.

      • Lone Ranger

        Im on Truth juice ;)

  • Mike

    A sure sign of psychopathy is never admitting a mistake or taking responsibility, and the crown prince shows that in spades.

  • Jacob Wohl’s Nose

    lol Iraqi militias took photos of US Erbil and Ain Assad Airbases with their drones!
    Patriot MIM-104 PAC-3 and CRAM are stationed at both. None detected the drones haha
    https://twitter.com/SADA_IRAQ/status/1247276333463416834

    • Jacob Wohl’s Nose

      another US MIM-104 launcher located by iraqi militia drone in Erbil airbase haha
      MURICA FUCK YEAhttps://uploads.disquscdn.com/images/24eb93b912fdeef6645da4f18391b272126b2d0503f7acb59d9cd87baa1e7a37.jpg

    • Jake321

      Yep, drones are nice. A US drone blew away the top Islamist Iranian general and a half dozen of his top military buddies. Israel does the same in Syria and Lebanon. There are drones and there are drones.