Saudi Arabia And Russia Make Secret Oil Deal

Novak Falih

 

Are Saudi Arabia and Russia helping Trump out by agreeing to increase oil production?

A new report from Reuters says that Russia and Saudi Arabia “struck a private deal” in September to increase production in order to suppress oil prices. Intriguingly, the pair apparently phoned the U.S. before the Algiers meeting in late September to relay the details of their plan.

The report is an indication that Saudi Arabia was trying to respond to pressure from President Trump to lower oil prices. If the White House was informed about the secret private deal, it didn’t seem to resolve Trump’s concerns. Continue reading

Trump To Saudi King: “You Wouldn’t Last Two Weeks Without Us”

 

One week after President Trump accused Saudi Arabia of deliberately conspiring to drive up oil prices during his speech before the United Nations General Assembly, the president stepped up his rhetoric against America’s most important strategic ally in the Middle East during a rally in Southaven Mississippi Tuesday night, implying that the US could withdraw the military protection it provides to the kingdom and warning that the Saudi regime that it wouldn’t survive for “two weeks” without US support. Continue reading

Iran Bumps Up Crude Exports To Highest Level In Five Years

Iran

 

Iran’s crude oil exports were 2.11 million barrels per day in August—up 15 percent from July exports, according to Reuters, citing someone with knowledge of Iran’s tanker loading schedule.

The figures lend credence to Iran’s promise to return to pre-sanction production levels, despite the OPEC (and Russia) meeting on September 26-28 in Algiers that many are hoping will end with a production freeze agreement in order to quell the price freefall. Continue reading