Russia extended until the end of 2023 the decision to reduce oil production by 500 thousand barrels per day.
OPEC and other countries (Saudi Arabia, UAE, Iraq, Kuwait, Oman and Algeria) have also said they will cut production before the end of the year. pic.twitter.com/fRRMwTiLRi
— Spriter (@Spriter99880) April 2, 2023
Since the end of World War II, the US has taken the position that it has an absolute right to bully the entire world. Following the lunatic sanctions against Russia last year, most of the world, led by China, has begun questioning this assertion, and claiming that the US does not have this right.
We are now seeing this hypothesis tested.
China recently asserted itself as the natural leader of the free world by negotiating peace between Saudi Arabia and Iran, countries which had been at one another’s throats for nearly five decades. This not only put the US to shame, indicating that China is more capable of securing peace than the supposed “global democracy system,” but was also an attack on the core interests of the United States. The US and its greatest ally Israel have benefited greatly from having never-ending conflict between the Sunnis and Shiites. (Of course, they can’t rightly come out and complain about peace!)
Now, Saudi is leading an attack on the US, kicking them while they are down by cutting oil output.
RT:
An unexpected announcement by the OPEC+ group of oil producing countries of a plan to slash their combined output by another 1.15 million barrels per day pushed the prices of crude up as much as 6% in early Monday trading.
The oil producers, who control roughly 50% of global oil supplies, reached a decision to reduce their output starting from May until the end of 2023, in a move designed to stabilize the markets, according to a series of announcements on Sunday night.
Riyadh said it would cut its output by 500,000 barrels per day, while Baghdad announced a cut of 211,000bpd. The UAE will reduce production by 144,000 bpd, Kuwait will cut 128,000bpd, Kazakhstan 78,000bpd, Algeria 48,000bpd, and Oman 40,000bpd.
Crude prices jumped on the news, with international benchmark Brent rising more than 5.5% to $84.30 a barrel, while US West Texas Intermediate crude futures soared 5.6% to $79.90 a barrel as of 3:30am GMT on Monday.
Russia already voluntarily cut oil output by 500,000bpd back in March, in retaliation for an oil price cap introduced by the West, which it said would eventually result in scarce supply and trigger uncertainty in the global market. On Sunday, however, Moscow announced it will synchronize with OPEC in extending its cut until the end of the year.
Moscow believes the move will contribute to the stabilization of crude oil prices, which fell sharply on concerns that the Western banking crisis could weaken global energy demand.
The Saudi Ministry of Energy called the move a “precautionary measure aimed at supporting the stability of the oil market.” Last month, Saudi Energy Minister Prince Abdulaziz bin Salman warned Western states against capping the price of crude oil supplied by the kingdom, adding that any attempts to impose a ceiling would be met with a halt of sales and production cuts.
Meanwhile, Saudi has invited Assad to visit, as that rift appears to be close to closing as well.
BREAKING: Saudi Arabia🇸🇦 will invite Syria’s🇸🇾 President Bashar Al-Assad to attend the Arab Summit being held in Riyadh on the 19th of May. (Reuters)
This followed reports of the UAE🇦🇪 and Russia🇷🇺 negotiating normalisation of relations between Syria and Saudi Arabia.
The US’… pic.twitter.com/QYzcRJpguA
— Going Underground (@GUnderground_TV) April 2, 2023
When Putin met with Xi last month in Moscow, they did a toast “to Biden, for bringing us together.” This appears to be applying to every country outside of the direct control of the United States.
As I’ve long foreseen, the world is uniting against the global bully that is the United States.
You love to see it.
Finally, people are pushing back against this evil anal system.
The goal, obviously, is to push the US and the collective West into an economic collapse before they are able to set off a global war. This is an act of radical peace by the world aligned against the Beast.
With each day that passes, the US gets further past the point of no return, with the possibility of a global war becoming less and less likely.
Joe Biden might go down in history as the man who saved the world by creating the conditions for the end of this empire.