Russian oil production falls by 1 million barrels per day | DW News
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- čas přidán 1. 06. 2022
- Today, the Organization of Petroleum Exporting Countries is discussing its future production strategy. Also on the table is how the 13 Opec countries will deal with the associated member Russia. According to media reports, there are efforts by individual member countries to exclude Russia from the cartel.
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#OPEC #Russia #Oil
Just a bit ironic that Lavarov feels the need to remind OPEC about the need for unity and loyalty.
While Russia mass murders it's neighbors.
Lol
Yeah, OPEC (including Russia) cannot be compensating nor responsible for NATO's and EU's screw ups.
USA is a non-OPEC member (rather ironic), therefore cannot dictate OPEC.
especially when the BRICs are direct competitors with OPEC - kind of like Russia dictating how Ukraine and the west can respond to Russian aggression
Brics is with Russia.
During world War 2 when Japab had seized most of the world's means of rubber, we synthesized our own to combat the demand, we adapted. It is time we do so again.
Japab
yea sure, US did so with fracking, which actually creating worse environmental damage and cost more than conventional oil drilling
Micro nuclear is the greenest energy around .
@@davidstrong7854 if you dont mind the waste products that have to be locked up longer than homo sapiens exists.
how true
Rising oil price would push the world to move to renewal energy.
Oil rich countries should be careful before pushing the price of oil.
It would be the beginning of the end of oil dependence around the world.
yo go and build green you still need oil
move to renewal energy required time... most of the world cannot move to new energy especially 3rd world countries
People are doing that anyway, lower prices won't prevent it. Now its about cashing in while one can
@@DIgitusSmartas Yes, we will need oil for cooking 🤣🤣🤣
@@DIgitusSmartas Oil will be needed, and should be conserved, as a feedstock for manufacturing. Burning it is a waste of a finite resource.
Let see. North America and Europe have a combined GDP of $36trillion and Russia has a GDP of below Spain now. Who will Opec cater to?
That's gdp + oil intake without it you can guess euro gonna nosedive to Africa level.
@@marczhu7473 The west can handle price increase much more than Russia.
Putin will find out like the USSR did how expensive a economice war with the world is.
@@marczhu7473 Russia is a slowly dying petrochemical state. They know there's limited time left to project any power. Their only real threat is nuclear weapons and nato has nukes too.
tosomeone who can wipe them off the earth
@@therighteouswaytog0 nuke is the best equalizer who gonna lose the most? The western citizen with home car + commodity or the Russian citizen with less asset?
Think about it.
"Russia demands unity. Or else..."
Russia's idea of unity: "Bow down to Russia maggots!"
Or else....... when the enemies (west) come to sabotage the Arab in the name of democracy and human rights no one but Russia and China will save them if they don't unite against the west, same way the do Unite against Palestinian on the onslaught from Israel. The west are evil and they only fight for their selfish interest. Thanks to God they're filling the hit to know how sanctions hurt. African, South America and Asia have been suffering for long. It's time to serve the West same food they're serving others. Sooner or later the world will isolate the west. Now they're begging Venezuela for Oil after the death and destruction done to their people. Evil
It's outrageous the things Lavrov says defy the imagination
@@axle.australian.patriot source: trust me bro
@@sergueileonardoafonin7950 No. Source: Putins many tedious speeches, Lavrovs delusional TV appearances, Russian Media et al. Russkiy Mir Go look it up.
„We will Never, Never, Never, Ever Invade Ukraine!“
Sergej Lavrov, 22.02.2022
👍👏
Liars!
They really did not invade.... They used the term Liberate as the justification
bunch of lying butchers
@@eizendragon5141 😂😂😂
i stop using car first time in 35 years due to high cost of fuel,so i guess that man was right if the trend continue might lead to drop of fuel consumption world wide
Me too. I reduce my use to a minimum.
Go electric! ⚡️ then no worries about oil prices. Here in Norway about 90% of all new cars sold are electric…and we have plenty oil.
I have never owned a car. Living in a Dutch city with no height differences, getting around on the bicycle is quite easy. When I really need a car I borrow one. Many people here use their car out of laziness, in my opinion. Why wouldn't one use a bicycle more often? It helps you stay fit, you save on fuel costs, and it's better for the environment.
If people slowed down and let the car stay for a day or two per week the prices om oil would drop.
Unfortunately, in my part of the world, petrol could be 5 euros/dollars per Litre and folks would still drive to pick up a pack of smokes from a corner shop two blocks away =/
And that's in Serbia, not some oil haven.
I liked the way that production Pie Chart was presented in Yellow and Blue. SLAVA UKRAINI 🇺🇦
HaHa 😂 me too
@@pmbbmp 💙💛💙💛💙💛💙💛💙💛
@@pmbbmp Putin 💓?
US using ukraine to destroy russia
Zelensky is a war criminal and GRUB he is killing Slavic people with NeoNazis help.
Why DW didn't broadcast the news that the Gulf countries agreed not to put any sanction on Russia?
Since DW has become a pet of the US it sticks to the agenda.
Because no one cares? What are they supposed to sanction? We are talking about the gulf states lol
Production decreased in Russia but revenue up due to increased prices.
The US and Canada have a lot of oil in the form of shale, etc. that is expensive to produce. When oil prices go up more of this oil becomes profitable to extract. That could replace much of Russia’s output in the longer term. Its this sort of oil that returned the US to the top as an oil producer. Since the sanctions on Russia look to be long term, it is worth restarting this production and adding to it. In other words, any shortage of oil is temporary.
Caveat: US Energy majors have fiduciary duty not to repeat the great glut of 2020 & politicians are fickle.
@Olaf Sigurson It’s not up to you. Also, oil is fungible so you won’t know where the oil in your oil based products come from. China relies more on coal than oil.
Canada has a lot of oil in the ground in Saskatchewan that is not shale-based. Canada only processes 1% of its reserves. The process is a lot more convoluted and complex than just the shale deposits.
@@agolftweetler3995 Politicians in the US want to get reelected. Off shore drilling is about the only thing there is a popular consensus against.
Thousands of land leases the U.S. has sold to oil companies are unused just being left alone. Public land that can no longer be used by the people and now just wasted and no oil produced from this land.
Didn’t seem to go all too well with all those myriads of new customers Russia is claiming to have.
especially when they're selling at a steep discount to COVID-locked down China
It only needs one...China...
But the total nett profit increased by 248% compared with 2021.
Countries are hoarding oil. Like when a business is going out of business they have a last sale.
@@jeckjeck3119 USA
In 2021 all companys were on halt because of corona. You have to compare it to 2018/2019.
Corporate earnings ..
So how many nations were banned from OPEC for attacking Yemen 🇾🇪?
Yemem is not Ukraine.
Isn’t that a multilateral civil war?
Doesn’t the Yemeni government invalided the Saudis, some North African countries and 9 West Asian countries for military support in ousting some Houthi movement?
Sadly, Saudi Arabia is a mamber of OPEC, and it is the Saudis who are bombing Yemen.
@@jdocean1 yes, Yemen is not important. They can die.
Great analysis thank you!
Interesting how renewals and green options are not yet there.
How can the current pressure haste the development of those forms of energy?
Problem is production
It can't, building out solar and renewable is already growing as fast as it can. If anything, these high oil prices will slow down renewable energy as making solar is more expensive with higher oil.
lol, because it's not cheap enough and not profitable enough. Oh and even in some places, the green activists are fighting thier own Renewables and labelling it as scam even though it's a realistic renewable solution, such as bioenergy.
@@marioxmariox higher coal price is making solar is more expensive
takes time build, take time manufacture, take time develop it
He didn't say the capacity was there to replace Russia, he just said there was some spare capacity.
That works for me!
I think the West can handle short-term pain, for long-term gain!
Starve Russia!
They've tightened the spigets since covid started, lack of demand, now as the world reopens, they don't want to open them again. Trump took Iran's oil off the market, now Putin took himself out of the oil market by invading Ukraine, he's being boycotted to shutdown Russia's cash cow. Oil and gas.
Venezuela...if they just took the ridiculous sanctions off Venezuela they'd have more oil than Saudi Arabia produces on its own...
@@jimbob-robob That's "ridiculous"!
@@DK-001 why? Just saying "ridiculous" is meaningless...if you don't back it up with a reason...so in this instance sir YOU are being ridiculous...GOOD DAY TO YOU SIR ! 🤣 LOL!
Oil is a crazy product. the price increase is not necessary just the will to charge the people extra. Greed is a powerfull tool.
Thank you DW for calling OPEC what it is : "A cartel "
Funilly enough, if I as a dog breeder make an agreement about prices with another dog breeder, I will get a fine because it is illegal. Yet these oil countries do it all the time and in the open, not a care in the world. Nobody dares touch them.
Basically a drug cartel. Cause we're addicted to oil...
It is a cartel. They have never tried to hide the fact.
😂🤣🤣
@@labourlawact7826 We are not addicted to oil, we need oil. Addiction is when you can't quit something you don't need,like drugs. You can addicted to cocaine but you need water.
Good, keep em’ coming.
Nice one.
Nuclear power needs to be on the table to replace hydrocarbons.
I should have never been taken off the table to begin with. If it weren't demonized in Germany and the rest of Europe (likely gazprom funds to greens and other environmental groups in Europe, had something to do with it), thousands of Ukrainians and Russian would still be alive today, most likely. Just because Putin without Germany's generous funding wouldn't bee able to finance his invasions in to Ukraine (and Georgia).
Nuclear energy is safe and reliable as long as you don’t live next to Russia.
Nuclear is an expensive and dangerous way to boil water.
@@SonicPhonic The Lancet Medical Journal has shown that Nuclear Power is the Safest Energy we have. Nuclear Power can compete with Coal on price but not Natural Gas. Do you support Fracking? Do not even bring up Wind and Solar. Germany's dependence on Russian Gas was caused by the use of Wind and Solar.
@@SonicPhonic Not really, it's better for raptors than wind turbines.
Cheers to all those parseltongue translators who help us understand the gibberish that Lavrov is spouting.
OPEC needs to look long term. The more expensive oil becomes the more replacements will be made. Most of that demand will be lost permanently. If the West adopts BEVs more quickly than anticipated due to gasoline costs, that is oil OPEC may never sell. The price of oil long term is completely unknown, but it is as likely to be much lower than it is much higher. As renewable energy becomes less expensive it will replace more and more oil and natural gas use.
every accessible drop of oil on earth will get sold sooner or later
Your a fantasist renewables not replacing anything anytime soon.
lmao , no
your govt is under oil companies hand, and building infrastructure taking years to be done
Wishful thinking. That is not real world interdependency! The investments in fracking were already done when KSA sent the price of oil down destroying the fracking industry. Same we see with China in the field of rare earth that aren't rare at all. Renewables are a political decision and not a market one at the moment and in near future. And politics want them at any cost. So they are not a decision maker for OPEC. Besides countries like KSA invest much in renewables too.
Matthew, You people are really funny. I don’t think you’re understand how important is the oil for the West… That will be the end of the U.S. petrodollar…
With other words: the quickest Way to fight Russian Agression and high Gas prices At the Same time is to either use less Petrol or to use Renewables
Heat waste plastic up and use the gases produced, very ecological.
sure call out the average hard pressed by high first need goods prices to buy electrics cars that cost X3 time more than yours average fossil fuel powered car
leave alone maintance and overall comfort☠
@@the_bane_of_all_anti_furry Green New Deal seems like it has benefits,
Reduces Russia & China's hold on everyone while also preventing a repeat of this chaos down the line. If we had alternatives lined up before then we wouldn't be so screwed rn.
the company that funds the leader of india also runs the biggest refinery and is reaping profit like never before from cheap oil prices.
That would probably help with US aggression too.
Interest rates are 22% in Russia!
Don't be a clown. 20% at the beginning of March, 11% now.
Igor : Ah, so you admit 20-22% interest rate. Tanks!
Source, Mr Rogain? Interesting name. Reminds me of the little blue pill old men need in order to “engage”. 🤣
great content
Russia gets to ship less and get a whole lot more money.
Besides vodka, oil & gas and misery for its neighbouring countries, what exactly else does Russia produce if anything of intrinsic value?
Raw minerals. You summed up nicely.
Basically everything from commodities to space craft and movies.
Wheat and fertilizer and other food commodities. Thats why we have this global food crisis happening right now.
So how come nothing in my house or life is Made in Russia? Nada, nothing, not one itty bitty thingie. Lots from China and overseas but Russia, nothing!
Fertilizer
Wheat
Minerals
Rare earths
Oil
Gas
All those things u need to survive
I don't understand how the USA has such a strong production of Oil and yet prices for the average consumer are so high? I didn't realize we produce more than Russia and the oil-rich middle eastern states, what explains the imbalance in price?
😠🤔😆
Corp. Greed.
If you think petrol price is high in the USA just take a look at normal prices in Europe 🌍
USA´s prices are not huge at all. In Denmark we pay nearly $3 per liter, you only pay the half of that.
They don't have strong production, they only sell stollen oil from around the world. Crooks and thieves all controlled by LUCIFER.
As for Gernanys escape from oil crisis you need to rethink your policy on the nuclear powered energy.Restart your allready exsisting nuclear plant,and at the same time build new ones.After that having plenty of time in your disposal,start tranzition toward green energy.
Thanks..
I like how uncomfortable Lapdog looks trying to fit in lol
I completely fail to grasp Lavrov's logic. He stated a few weeks ago, they had tried everything possible to avoid a conflict with Ukraine. Apart from not invading, that is.....
LavRat is an evil monster 👹
Very good . It should fall by 5%. Lavrov too wicked .
Very wicked.
As a guy who’s working in semiconductor industry, Russia isn’t capable of making equipment for oil industry anyway.
@bruce parka As a scientist and engineer, I am so curious what happens if they use washing machine-grade semiconductor to military and mining equipment
What equipment do you think the USSR used to produce oil and gas sent it to the west? On your own🙂
@@Olga-ht3yx Good question. I’m not a historian but as a engineer, they used their own equipment(of course including other 14countries).
Semiconductor industry is kinda fast moving industry. The gap between soviet and west was tiny back then. But from my estimation based on my semiconductor and chemistry knowledge, Russian company like Baykal is 20 years behind of US/Korean/Taiwan/Japan, Chinese companies are about 12 years behind.
If Russian government can solve these at least 3 problems, possible to keep mining.
The Soviet equipment is still preserved including parts or attachments
The electric efficiency of Soviet equipment still pays on current prices
They can maintain equipment by themselves I think there’s fuel for equipment inside Russia but tons of attachment are used in one equipment.
I heard Soviet era tanks are still preserved, I just admire by the way!
Thanks, Russia and OPEC for speeding up the green transition. Our planet really needs this. Keep up the good work. ! Greetings from Denmark
😄
Old Pavlov Ravlov looks his happy usual self.
Like lurch in the Adams family. Never smiles.
The price per gallon is now averaging over $4 USD per gallon in the US and this has certainly affected my driving habits. I will visiting closer attractions in my state and neighboring states rather than taking the long-extended trip I had planned before the prices went up so much. Actions by millions of other drivers like this will affect the amount of oil needed and thus affect the price per barrel - we don't have to wait for renewable energy sources to become more common or for electric vehicles to replace the ICE vehicles.
When you are paying $12.00 a gallon like we are, then you can start moaning, until then, quit yer bitchin'!
$4 dollars per gallon? You lucky people. We in the UK pay double that....... diesel is even pricier here, which explains why new diesel car sales are now 60% down on what they were 2 or 3 years ago. At one point, new car sales here were split 50 - 50 between petrol/gas and diesel. Not anymore. New fully electric cars are now taking 12% of the UK market, and that is expected to grow to 20% plus next year. We seem to be gearing up for EV's rather more than the US. We have 30'000 new public charging connections being installed in 2022 alone, with the aim of 300'000 by 2030. At the moment though, around 60 to 70% of UK electric car owners charge at home 90% of the time....
Is purely price gouging. The oil companies are holding up Americans for access to more oil leases, many of which they are not using now. Is no shortage of oil in the US and they are creating a recession single handedly.
I know but, 1 American gallon is 3.785 litters, current price for diesel or gasoline here in Portugal is 1.90€ or 2.02$ (today just got higher) 3.785L 1 gal x 1.90€ 2.03$ = 7.19€ or 7.68 American US dollar. So, welcome to the world. And portugal isn't a rich country
2€/litre in France. But then again I drive a diesel Peugeot so I only need 4.5l/100km (metric ftw)
Aah the news I was waiting for 🤗
OPEC will never kick Russia out too many other deals going on behind the scenes between them all.
But why OPEC kick out Russia 🙄🙄
This is European problem not OPEC or World's problem
Dont bet on it, Russia a nonplayer now in any field thanks the Putin. Noone wants anything to do with Russia.
@@thebangkokconnection4080 if only that were true India and China are very happy buying cheap oil and gas at the moment as are Argentina, Serbia and many other nations
Inflation in Russia is at 20% & expected to hit 50% by years end accounting!
western version? 20%, and their currency is getting stronger and stronger?
Here's to _over nine thousand_
I think you are kidding or being sarcastic
Inflation in UK is 10% and expect to grow more. You make it sound like the western countries are ok
Lets hope it keeps rising and rising. We must bring Russia to its knees. We must totally impoverish them. They deserve nothing less. They created that evil monster Putin.
This decline is only in its infancy. Interesting world, where Venezuelan oil could prove to be more acceptable than Russian oil, if they can ever get production up to previous levels.
Venezuelan will not lmao
Yeah you really defeated communism there
@@darkmattersolo2137 I concur. The required investment is likely to be more than it's worth.
@@paulmurray8922 dude Venezuelan don't want to make business with the US or the EU we tried to over thrown their president and took their assets.
It's a failed state. You're right though. If freedom ever comes back to their land
I'm glad the correspondent indirectly referenced demand-side reduction for oil. The interviewer seems to think the demand side reduction will be just countries moving faster to renewables but that's simply not true.
[For those who may not know] When oil prices are high, generally so is inflation, which causes higher interest rates and all three take away from consumer purchasing power which causes people to use less; less energy and less oil-based products (plastics is the easiest example). The easiest place to save money is online subscriptions, which is usually the first place to take a hit during a recession or recession scare. The second place quickest place to take a hit in energy use and if prices stay high for a long period of time it can lead to permanent reductions for people (think of those who replace their windows to double/triple glazing for energy efficiency, replace bulbs, turn plugs off or buy solar panels). When these reductions happen, it impacts OPEC nations for the foreseeable future so they really don't want prices to be too high and IT IS NOT because we'll all suddenly decide to have a wind turbine in our back yard.
Lavrov looking spot on, in the thumbnail. Lol 😂
Do the math for me. 11 million barrels of oil at $60 a barrel versus 9 million barrels at $110 a barrel.
9 million one wins
more profit
Don't be so happy about that bcos just building a massive refinery and petrochemical complex in sri Lanka with cars and automotive machinery they can consume more than 1millions barrels
Pity Russia just lost access to all international oil shipping really. 🤣🤣🤣
how can unproduce oil countries be controlling OPEC?
Relax, take a deep breath and enjoy the show...get your popcorn and beer ready...💃💃
That's really bad for Russia. Their pipe lines are in the Perma frost so they can never stop the oil from flowing or else the whole things breaks apart. I believe they only recently got the old Soviet lines back online as of 2018. This means, if things are back to normal after the war. Those lines can only get back online by 2040 or 2050.
Star Trek Original Series.😆😅🤣😂🥰😍🤩😘😋😛💋💯👍
Russia is shipping plenty of oil, their sales are up 5% in the last month and they are making more money from energy and fertilizer sales now than they were preconflict. Russia has top of the line equipment. Also, more oil will be flowing to OPEC as well. You did know Russia is one of the largest of the OPEC countries, right? Russia is doing better than the US and EU.
@@darkroses3479 Top of the line equipment, all supplied by western industry.
We had to go there every few months to replace-regulate-adjust gear,
they are hopeless at that,it will slowly degererate now.
@@patverum9051 LOL, you're so full of BS. The West is dependent on the East, not the other way around. Russia is quite capable of handling their own affairs, I mean, look at them. The US UK EU are suffering and Russia is just laughing at our sanctions. Russia doesn't want to deal with the US UK EU. They're decoupled from us and the rest of the East is also breaking away from us. Why do you think the US is so desperate to get NATO into the East? We want to reestablish US dominance over the Eastern Hemisphere.
@@darkroses3479 that is true to some extent. We are currently in summer high right now which is always a peak for oil demand. What I am seeing is a bigger issue for Russia in the future. The Germans now fully understand that dependant on Russian energy was a mistake. So are many Western European countries. I see the second scramble for Africa coming in the next couple of years and the US will probably be the forefront of that charge. The problem is, pipelines are vulnerable locations and only stability can ensure the oil and gas gets to their destination safely. It also does t help that the Russians depends on their energy exports for a majority of their economy. In the long run, they will only have a limited customer to draw on. Look at how the Iranian are fairing dealing with the Chinese.
The OPEC countries stand condemned for their actions in supporting Russia.
NATO is the evil here. They have no right to embargo russia.
World stands condenemned to actions in supporting America invade other Nations ,Russian story is not unique you Hypocrit
0:46 hope that number increases
In most countries , cartels are illegal.
How is a worldwide cartel allowed ?
Because it is literally an international organization consisting of multiple COUNTRIES. What entity that is above individual nation states have banned cartels?
@@karliskokorevics6902 Does that make it ok ?
The UN is a worldwide organisation. If they had balls they could ban price fixing world wide cartels and the world would be a better place.
In modern oil industry, all of the drilling , wellhead and pipeline techs are heavily dependant with US companies, such as Halliburton and SLB. Even if russia wants to increase their production they can't do that without US technology.
And Technology is dependent on oil field. Why have the technology if you have Nowhere to use it. Like having the tools but you don't have a car. 😀😀😀
@@rogerburn5132 And Russia is rich,sitting on oil, yet dying in poverty.
@@sonofthesun23 Nobody in Russia is dying from poverty my friend. You look USA has milions of homeless people in LA. in New York evrywere in the USA. drug addiction people to milions of them. And USA is spreding 760 bilion on military budget. Milions more live from pay cheque to pay cheque and from their credit card. and USA is suppose to be rich country. Government debt is 30. TRILION. DOLLARS. budget deficit is around. 1. TRILION DOLLARS every year. And you talk about Russia. Nobody in Russia is homeless or starving..
@@rogerburn5132 Does Russia really look like a first or 2nd world country to you? Even some African countries are better than you. Why in the world will your soldiers be stealing women underwear? Stealing cars from poor Ukrainians?
Russian oil reserves are expensive to locate, complete and produce requiring technology currently unavailable in Russia. Over the past decades Russian oil operations had two types of staff as the Russians did the drinking and the expatriates did the thinking. With the average Russian well having a five year life cycle from discover to watering out the future production can be easy projected.
Trying to fight a war with something we ALL need is bad idea.
GAs and heating oil sure didn’t go down around here.
Revenue Up 195 % in 2022. * ALPP.. Alpine 4 Holdings. U.S. Manuf. Drones, Electronics, EV Parts, Graphene batteries, 11 Subsidiaries. 64 Institutional Investors. Record Backlog.
The OPEC nations are not in danger of being invaded by Russia, but they are well aware of Russia's long standing history or duplicity, hearing that Russian officials calling for "unity" is sickening. OPEC countries know that as well.
What's stopping the US from increasing oil production?
Biden
Oil companies are making huge profits
Produce more and prices drop
@@revisionfour Pithy? Certainly. True? Certainly not.
the Us produce more oil than they need; but lack capacity to refine it... so still have to import loads. No new refineries have been built for decades
@@revisionfour You ignorance is impressive. US drilling companies have refused to expand drilling since 2019. COVID impacted drilling in the US. Because of that there are 15K fewer people working drilling rigs in the US...and there's no sign of them ever coming back. Next time, come back when you know what you're talking about.
Can’t US shale oil and Canadian sand oil increase productions too, now the price is high enough for them to be profitable?
That really isn't a lot of reduction......
Problem is that even if all OPEC countries increase their production to their respective max this won‘t suffice to offset production by no means
Why would OPEC increase production just so the price will fall and hurt their own Pocket. After 2 years of Locdowns and lower oil prices. OPEC lost billions already.
1 million barrels per day, oil will sky rocket toward the summer …😭🤧🥺
Yes keep it up men...
The guy should be behind bars…
Amy Goodman (1957-, Planet Earth)-
“Beyond the borders of wealthy countries like the United States, in developing countries where most people in the world live, the impacts of climate change are much more deadly, from the growing desertification of Africa to the threats of rising sea levels and the submersion of small island nations.”
Wait, that was said even back then? 😬
These governments move really slow... Although I suppose they've learnt their lesson in not shifting their carbon dependence on other countries.
Climate change is a discussion to have wwhen there isn´t a fuel emergancy.
off the coast of Florida there is a forest deep underwater which at one time had been flourishing on land and other places in the ocean there are civilizations from long ago that took a dive, so it looks as though it's an on going problem for people who want to live on the shores. Hard to believe man in one century can cause or stop anything on the planet - the US can destroy their living standard by giving up fossil fuels but russia, china and india will go on thriving on them as poorer nations sink as Goodman put it
@@Anashadk the fuel emergency is happening because too much of the world depended on a metastable supply that collapsed at the worst possible time. If we all had fallback options, they would've been helpful.
i.e. Renewable & Sustainable, I mean how development could we have done if the world was really commited to it? OPEC & Big Energy wouldn't have as tight of a hold as they do now.
*"If it's too big to let fail because we depend on it surviving, then it's just too big in general."* - Could apply to how Energy Markets are going haywire rn. Getting real 2008 vibes from this, just swap out the bankers with BP & Shell 😜
But in the end, we placed too many eggs in one basket while burying our heads in the sand.
The best time was before, the next best time is to think about alternatives now. While sorting out the Crisis.
russia cut oil production for 1m but receives the quota...and they can sell this quota to other opec countries...so russia is not really affected
A number of European companies are forced to close due to the lack of Russian energy resources. It is reported by The Wall Street Journal.
The reason is global competition. European businesses simply cannot compete with US and Middle Eastern companies that buy energy much cheaper than they cost in Europe. The publication notes that now the price of gas in Europe is three times higher than in the United States.
Algae based products, btw, can replace oil for most purposes.
Unfortunately, most wars are about oil, Gass , sea ports and resources. We haven’t seen the last attacks from Russia or any other countries with influence.
The Geopolitical battle for Fossil Fuels is constantly happening.
Alternative energy development is the solution. But in America Conservatives say "NO" to everything that would help resolve these problems.
@@rtqii The party of death and chaos
Thats nato wars buddy!
This is the donbass war its been going for 8 years and russia just joined the war
@@justinblake420 no
This war wasn't started over oil.
Why would Venezuela increase production for the United Stares when it was Russia that came to their rescue....this is pie in the sky.
What kind of rescue are you talking about?!
United States can survive without oil and gas from other countries but Europe can't. IF EVER Venezuela is to produce more oil it will mostly go to Europe to replace Russian oil.
United States is an oil and gas exporter. Meaning we sell oil and gas to other countries too.
Please look it up online.
Why? M..O...N...E...Y. That's why.
@@lsd8497 When the United States was attempting to over throw the government
....it was Russia who stepped in with support and military backing...
@@maryannphillips Not for the benefit of the U.S but for Europe. Venezuela is an ally of Russia. Let's not forget Russia has friends also. The European model of colonize and destroy has created a lot of global enemies for the United States.
One person is playing chess here. Others are blind.
Please use subtitles. Don't have two people speaking at the same time.
This "News flash" was outdated as it was uploaded.
1) Oil price is up again.
2) Russia is still in OPEC
3) Ruble is still on a 4 year high.
4) Russia (and it's OPEC friends) are still making more money by pumping less oil.
At the same time there won't be fuel, gas or food in the west. The shortages are already starting.
The cope is off the charts.
@@solaroid4442 the delusion at russian trolls is off the charts. :)
The ground under you is shifting. The best thing for you is to buy a big box of industrial strength copium, consume the entire box, and then put your head in a hole in the sand. You won't notice or feel a thing. Russia's military, economy, and diplomatic policies are all much stronger than before Putin started his war. 30,000 KIA has resulted in much better combat performance, and Russian mothers are dancing with joy, especially knowing their sons are MIA and they are not getting combat death benefits. They laugh and dance while tossing their hair. So happy, everything is going according to plan.
Ruble is on a 4yr high because markets are closed/ highly limited and Russia pumped lots of money to artificially inflate it. Once markets are fully open and Sanctions removed, Rubles will be cheaper to buy then Monopoly money.
@@NONcomD Inflation in Russia is below 2%. They have a trade surplus and no debt whatsoever. They sell energy in the middle of an energy crunch. Russia makes its own food, cars and agricultural machinery, and whatever they are not making, China is.
At the same time we already have food and fuel shortages beginning, and the US is printing dollars like they are going out of fashion, inflation is above 20 percent, and the west is at 120% govt debt to GDP.
The Russians will have to choose between eating Putin (like the Dutch did it in 1672) or eating eachother
Eating EU and US..
🫣😆
They gonna eat Ukraine for you
@@marczhu7473 🤣🤣🤣🤣🤣🤣🤣🤣 you should check that meme with the stork eating a frog and getting suffocated by the frog ... that stork is Russia. Ukraine will take Russia down with them and I'm here to watch
@@marilenaganea6578 Zelensky said that 20% of Ukraine is now the territory of Russia. everything is according to plan
Is this good news? This will only made oil prices raise more. Even the idea to increase capacity in production is enough to signal a raise in oil prices.
They don’t need to produce more while they produce less but get more because oil price is high…
Yes, please kick them out!
Russia is sanctioning themselves, by not selling oil to five plus countries already.
Russian bots : Russia is so smart
The fails are epic.
China and India market is big enough for Russia!
Russia's storage is filling up. they are making decent money because of the price of oil, but the aren't selling that much oil so their storage is a month away from being full, at which point they will not be producing anything. There are just not enough tankers in the world to handle transporting from Russia to India especially now that the tankers need to also run Saudi to Germany.
@@yaucharles91 LOL, how can Russia balance its trade with India or China? What does India have to offer Russia? China on the other hand is seeking ways to expand its economic influence on Russia and many Russians don't want it. Russia is damned!!
@@yaucharles91 say that again
@@yaucharles91 lol you trolls are wonderfull.. china runs on coal.... XD
The world population is growing so that means demand is going to get more demanding for oil and food and where struggling now to supply 🤷
Pressure
Just yesterday Saudi analysts were talking about the Kingdom intensifying trade with Russia and import more graine and that trade between both sides will be in rubles!
Stolen grains from Ukraine ?
If conflict do not end fast and with rampant speculations in food sector around, will be no grain to buy (relatively cheaply) next year (coming winter) for "3rd world". This intensifying trade will be great IMHO.
@@francoislechanceux5818 racist or uneducated? Russian wheat production is 4 times larger than Ukraine and export is 3 times larger than Ukraine. It is not educated to reduce world trade to slogans.
We all know the problematic of the conflict but we still are allowed to use our brains.
@@mindaugasstankus5943 prices will be higher true but grain is sufficient there. Some couldn't compete mainly with the quality of the wheat from Russia and Ukraine. Quantity wise there is no shortage on the world markets.
Look at countries like Egypt. The government will now buy the harvest of the domestic producers and that will give a boost to local production and jobs in that field. Second they now accept Indian wheat which they saw as of lower quality before. France produces more wheat than Ukraine, Canada and USA too. Germany produces nearly as much as Ukraine. EU as whole produces 126,658,950 tons vs Ukraine 24,912,350 tons but in Europe we use it to feed livestock. 7 kilos produce 1 kg meat. The problems today are not the quantity. First problem is international trade is in US $ and USA doesn't allow 3rd world countries to use it for buying Russian wheat. Second problem is that cheap wheat destroyed domestic production in the past. Reallocation of resources could solve the problem fast
The move to renewable energy and electric vehicles can not come soon enough. Time to stop stalling.
Every home and business needs to add solar panels, an electric heat pump for heating and an electric vehicle or bicycle.
OK. When are you planning to come and install a free heat-pump & Solar panels in my house, because I don't think I have the cash to do that?
Hey! Ken can you afford an electric car? Or better yet do you know the cost? If you can afford $40,000 plus tax ( and thats a cheap one ) then you are privileged. So wake up and stop spewing garbage
the problem is where is all this new generation capacity going to come from? and what about the problems of electric cars in cold climates?
and what do we do about generation at night? battery farms are not for storage, they are for ballast.
these problems are not solved yet.
@@Solid_Snake88 Not ours.Their scheme is a disincentive. Branded "a joke" by money experts.
@@Solid_Snake88 I assume, your requirements are lower considering the climate in most of Italy compared to N Europe.
Less production but same revenue or more..
So who is winning here
The world. Keep those dead animals in the ground.
Time to end this senseless WAR
haha - Next Saudi Arabia will be punished for sending missiles to Yemen
lol DW.. I love your description referring OPEC as cartel.. Slava journalism! 😆
Erm, it is a cartel and describes itself as a cartel, no, proudly describes itself as a cartel. Your ignorance amuses me.
it is a cartel according to the definition
Cartel only has negative connotations because in recent history it's only use is linked to illegal drug cartels, educate yourself Russian troll.
OPEC has been called a cartel since the 1970s.
Selling less oil, for more price per barrel. Sounds like a better deal.
Lavarov reminds me of the "The Master," the head vampire from tv series The Strain.
How long can Russia's oil and gas industry survive economically, without the Western oil field services companies (Slumberger, Haliburton, etc) that make it possible? It's not like Russia knows how to do it on their own.
Good point. Not long. Though I seem to recall that Chevron got some kind of break regarding Sakalin 2.
Its nothing but dispute to control,oprate WORLD ENERGY RESOURCES, ITS PRODUCTION SUPPLY NETWORK and THE CONSTANTLY GROWING MARKET CREATED IN EUROPE....and PUTIN IS THE BIGGEST HURDLE ON THEIR WAY TO TAKE CONTROL, Lose Democracy and its leaders are very easy to manipulate to grab resources.
🤣What equipment do you think the USSR used to produce oil and gas sent it to the west? ON your own))
I'm up for the idea of lifting some sanctions on Venezuela. If this were to happen, OPEC would have to increase supply, oil prices would fall dramatically, world-wide energy prices would fall, but most importantly Russia would be hit the hardest. In fact, this would be the middle brick in their economical wall to crack before their entire economy collapses...thus the look of worry on Lavrov's face.
I agree, buy oil from Venezuela and Iran, we can always smack their botties again in the future, it solves the problem right now.
Yup Asia would buy oil 🪔🤣🤣🤣
@@bojanvukobradovic2504 of course, but would they buy the total amount that Europe will not buy ever again? Would they have Russia as their only supplier?
That look of worry is because he might not say what Putin wants him to say, that usually costs prison, firing or poisoning depending on how much is wrong.
@@Anashadk or, some tight fitting underpants laced with a smidge of novichok... lol
And yet people are still buying new ICE cars in 2022... Something I will never understand.
That just means it'll get more expensive
Why not lift sanctions against Venezuela? They have not invaded a country.
hear. hear.
So what’s the actual reason for the sanctions?
Nope 👎
Why not put sanction on the USA, they invade countries by the dozens?
@@V01DIORE Not been a puppet state of the USA
i like how you get those thumbnails of the russian where they just look morose, on death door, pissed off. keep putting up such thumbnails please!
I like the ones with Zelensky laughing at Putin
High time, kinda tired of prices for petrol ⛽️, barrel under 40$, not more
If dark oil wasnt a thing before it certainly will be
Now Russians can feel the pain under insane government. Even though there are different reasons. Ours is to "prevent climate change" theirs is to be "bigger". But both reasons leading to economy collapsing.
Actions against climate change definitely will not cause a collapse of the economy. Quite on the contrary, shifting from fossil fuels to renewables comes with a lot of innovation and huge investments which can boost the economy and create lots of jobs.
Even more imprtant is the long term view: In the long run solar and wind can provide much more energy than fossil fuels. Today only a minority of the world population enjoys wealth, most people live in poverty with minimal energy consumption. Despite this oil supply is already tight, we need to use even oil sand and fracking to cover demand, prices are high as a consequence. Now imagine a future with 10 billion people with a Western standard of prosperity and oil consumption. That just will not work, never ever.
The transition to renewables will overcome this dead end and open the path to prosperity for all mankind.
Russia want The climatic changes
Sure?They still survived the sanctions
@@justanotherguy2824 India has invested in solar farms. As reported, they earn quite well with those farms. But the mystery is they buy as much oil from Russia to stock up as possible for no reason.
@@thuydao8945 So please explain to me why they still buy Russian oil, criticize EU oil ban and defend buying oil? why do they do that? just for fun?
Russia is affecting the OPEC bottom line
FYI, check where the batteries come from, think twice.
Nice !