Russia, OPEC may ditch oil deal to fight for market share: Russian minister

Russia and OPEC may decide to boost production to fight for market share with the United States but this would push oil prices as low as $40 per barrel, TASS news agency сited Russia’s Finance Minister Anton Siluanov as saying on Saturday.

“There is a dilemma. What should we do with OPEC: should we lose the market, which is being occupied by the Americans, or quit the deal?” Anton Siluanov, speaking in Washington, said, TASS reported.

“(If the deal is abandoned) the oil prices will go down, then the new investments will shrink, American output will be lower, because the production cost for shale oil is higher than for traditional output.”

Earlier this week, sources familiar with the matter told Reuters that OPEC could raise oil output from July if Venezuelan and Iranian supply drops further and prices keep rallying, because extending production cuts with Russia and other allies could overtighten the market.

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Considering increasing production levels is because Russia is considering dropping out of OPEC production quotas because their support for Syria, Venezuela, Iran, and Cuba are bleeding them dry and they need money to support these money sucking regimes.

Great place to be in if you are Trump negotiating with Russians over any of these areas.

https://www.reuters.com/article/us-russia-opec-deal-idUSKCN1RP0CM?utm_campaign=trueAnthem:+Trending+Content&utm_content=5cb1f03100e48b00017edead&utm_medium=trueAnthem&utm_source=twitter

>>6163846

Thoughts?

6163645

==China denounces protectionism in swipe at U.S. trade policy++

Protectionism has harmed mutual trust among countries and limited the scope for multilateral cooperation, a vice governor of China’s central bank said on Saturday, taking a swipe at the Trump administration’s “America First” trade policies.

Chen Yulu, a vice governor at the People’s Bank of China (PBOC), urged the International Monetary Fund to continue supporting a rules-based multilateral trade system as tariffs play “only a limited role” in fixing bilateral trade imbalances.

“The protectionism of some countries has harmed mutual trust among countries, limited the scope for multilateral cooperation, and impeded the willingness to achieve it,” Chen said in a statement to the IMF’s steering committee during the IMF and World Bank spring meetings in Washington.

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Translation: Trump, thru the use of bi-lateral trade agreements and tariffs, has upset China's ability to export their products, dump their steel/aluminium, steal intellectual property, and just generally ruined their rise at the expense of other countries. We want to go back to globalism where our country can establish ridiculous trade deficits with other nations, in effect stealing their wealth, along with stealing their intellectual property and selling as our own in our own country.

https://www.reuters.com/article/us-imf-worldbank-china-idUSKCN1RP0HU?utm_campaign=trueAnthem:+Trending+Content&utm_content=5cb20fd3e6dfda0001dd2dd1&utm_medium=trueAnthem&utm_source=twitter