If you haven’t heard by now, 2017 ends with oil prices well breaching the $60 a barrel mark leaving producers much more confident as they head into 2018.
This is a boon on two fronts for the world’s biggest oil producers Russia and Saudi Arabia.
The Russians over the past three-and-a-half years have weathered the storm of crude oil prices plummeting from over $100 a barrel to $26 a barrel at one point.
To make matters worse, they were hit with punitive EU and American sanctions over the Ukraine crisis at the same time leaving their economists struggling to find an alternative path for economic growth.
After a number of state and banking interventions, the Russians were able to bounce back from the recession zone in late 2016, and from March of 2017 largely because they had rearranged their economy and based it on the $40 threshold.
You can read the rest @
http://thebricspost.com/in-2018-kiss-the-oil-glut-good-bye/#.Wku9RFWnGpo
Good for Russia, bad for us.
Q: Why hasn't the US invaded Venezuela to take over their reserves?
A: The powers that be want them to suffer for a few more years before doing that, apparently to "prove" that socialism doesn't work.
By the way, socialism doesn't work because the powers that be have the tools to guarantee it won't work.
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