IQD CALLS Chat Sunday Night 3-8-20
IQD CALLS Chat Sunday Night 3-8-20
TWWIII Today's Crude OIL prices: 32.44▼ -8.84 -21.41% EDT. Delayed 15 minutes. Currency In USD
Baxter and FALLING.... WAIT till next week...... will be under 30 bucks
TWWIII Baxter I agree Bax
Baxter RUSSIA is mad at the U.S.
TWWIII Do I hear $1.99 at the gas pumps??
Baxter its 1.74 in ohio.. right now
TWWIII Its $2.67-$3.29 here
Baxter MARCH 8, 2020 WORLD OIL NEWS MOSCOW (Bloomberg) --At 10:16 a.m. on a wet and dreary Friday morning, Russia’s energy minister walked into OPEC’s headquarters in central Vienna knowing his boss was ready to turn the global oil market upside down.
Alexander Novak told his Saudi Arabian counterpart Prince Abdulaziz bin Salman that Russia was unwilling to cut oil production further. The Kremlin had decided that propping up prices as the coronavirus ravaged energy demand would be a gift to the U.S. shale industry. The frackers had added millions of barrels of oil to the global market while Russian companies kept wells idle. Now it was time to squeeze the Americans.
After five hours of polite but fruitless negotiation, in which Russia clearly laid out its strategy, the talks broke down. Oil prices fell more than 10%. It wasn’t just traders who were caught out: Ministers were so shocked, they didn’t know what to say, according to a person in the room. The gathering suddenly had the atmosphere of a wake, said another.
Baxter For over three years, President Vladimir Putin had kept Russia inside the OPEC+ coalition, allying with Saudi Arabia and the other members of the Organization of Petroleum Exporting Countries to curb oil production and support prices. On top of helping Russia’s treasury – energy exports are the largest source of state revenue – the alliance brought foreign policy gains, creating a bond with Saudi Arabia’s new leader, Crown Prince Mohammed bin Salman.
But the OPEC+ deal also aided America’s shale industry and Russia was increasingly angry with the Trump administration’s willingness to employ energy as a political and economic tool. It was especially irked by the U.S.’s use of sanctions to prevent the completion of a pipeline linking Siberia’s gas fields with Germany, known as Nord Stream 2. The White House has also targeted the Venezuelan business of Russia’s state-oil producer Rosneft.
“The Kremlin has decided to sacrifice OPEC+ to stop U.S. shale producers and punish the U.S. for messing with Nord Stream 2,” said Alexander Dynkin, president of the Institute of World Economy and International Relations in Moscow, a state-run think tank. “Of course, to upset Saudi Arabia could be a risky thing, but this is Russia’s strategy at the moment – flexible geometry of interests.”
Baxter Too Low. When the coronavirus started devastating Chinese economic activity in early February – cutting oil demand in Saudi Arabia’s biggest customer by 20% -- Prince Abdulaziz tried to convince Novak that they should call an early OPEC+ meeting in response to cutback supply. Novak said no. The Saudi king and Putin spoke by phone **-- it didn’t help.
As the virus spread and analysts forecast the worst year for oil demand since the global financial crisis, the Saudi camp was hopeful Moscow could be won round at the next scheduled OPEC meeting in early March.
The Russians didn’t rule out deepening cuts, but kept making the point that shale producers should be made to share the pain. Putin, who has been the final arbiter of Russia’s OPEC+ policy since the alliance started in 2016, met oil Russian producers and key ministers last Sunday.
Bad Chemistry. As ministers gathered in Vienna this week, Saudi Arabia made a final effort to force Russia’s hand. They persuaded the core OPEC group to support a deep production cut of 1.5 million barrels a day, but made it contingent on Russia and the other OPEC+ countries joining in. Novak turned up last at the Vienna headquarters where his nervous counterparts were waiting for him, and refused to budge.
Baxter The crown prince even considered calling Putin on Friday, according to a person familiar with the situation. But Putin’s spokesman made clear to reporters he had no plans to get involved. As for the two countries’ oil ministers, there was no personal chemistry between them, according to a person in the room. They didn’t exchange a single smile, said another.
With every leak from the meeting the price of oil twitched, as traders slowly came to realize a deal was going to be impossible.
Priming the Pump. Rosneft is delighted with the breakup. It can now move to boost its market share, said spokesman Mikhail Leontiev.
“If you always give in to partners, you are no longer partners. It’s called something else,” he told Bloomberg. “Let’s see how American shale exploration feels under these conditions.”
TWWIII Interesting, T Y
Baxter But the decision to take on shale could backfire. While many drillers in Texas and other shale regions look vulnerable, as they’re overly indebted and already battered by rock-bottom natural gas prices, significant declines in U.S. production may take time.
The largest American oil companies, Exxon Mobil Corp. and Chevron Corp., now control many shale wells and have the balance sheets to withstand lower prices. Some smaller drillers may go out of business, but many will have bought financial hedges against the drop in crude.
In the short run, Russia is in a good position to withstand an oil price slump. The budget breaks even at a price of $42 a barrel and the finance ministry has squirreled away billions in a rainy-day fund. Nonetheless, the coronavirus’s impact on the global economy is still unclear and with millions more barrels poised to flood the market, Wall Street analysts are warning oil could test recent lows of $26 a barrel.
Breathing Space. In Saudi Arabia, where the government is almost entirely dependent on oil to fund government spending, the economic impact will be immediate. Prince Abdulaziz and his half-brother Crown Prince Mohammed will have every incentive to boost production to maximize revenue as prices fall.
“Prices will fall until either Moscow or Riyadh call off the endurance contest” or North American production is massively curtailed, said Bob McNally, president of Rapidan Energy Advisors and a former National Security Council staffer.
Baxter Relations between the two energy ministries remain cordial and the diplomatic mechanisms of the OPEC+ group are still in place, keeping the door open in case the two sides do decide to reunite. Novak told his peers on Friday that OPEC+ isn’t over.
But a photo of the conference room after the delegates had left hinted at a different story: The small Russian flag by Novak’s seat had been knocked over. And Prince Abdulaziz left his counterparts with a grave warning: Trust me, he told them, according to a person in the room. This will be a regrettable day for us all.
Baxter THE END
Baxter THIS... will devastate Iraq..they need 52 a barrel for the budget..aint gonna happen
TWWIII Yes it will big time
Baxter THERE WILL BE A SALE ON DINAR.. TOMORROW.. LOL
TWWIII Mayb silver will also go down, I'll check
TWWIII Naa, only a 21 cent drop so far Dropped again: 32.18▼ -9.10 -22.04% EDT. Delayed 15 minutes. Currency In USD
biff Dayum Iraq is running out of money ;$$$
Baxter afraid so Biff not good at all
biff I know
Wilder "$20 oil in 2020 is coming," Ali Khedery, formerly Exxon's senior Middle East advisor and now CEO of U.S.-based strategy firm Dragoman Ventures, wrote Sunday on Twitter. "Huge geopolitical implications. Timely stimulus for net consumers. Catastrophic for failed/failing petro-kleptocracies Iraq, Iran, etc - may prove existential 1-2 punch when paired with COVID19. Since Iraq and Iran can't get their act together we'll just squeeze a little tighter. Are you hungry yet?
Baxter WILDER..... I know...... its always something
biff A lot of bull caca news coming out of Iran. I saw the twitter pic of the guy on the ground in front of the hospital suffering from the corona virus
Baxter really..
biff yes
Wilder Baxter it might work to our benefit. Another sanction strategy?
Baxter Wilder.. who knows...could be
biff they closed down the hospital
Baxter Italy put a loop around 12 million people today
biff They are arresting people for licking Idols in Iran
Baxter wow
biff causing the spread of the virus
Baxter you cant believe the people down here hoarding water and toilet paper...of all things
biff As far as I know Iran is done. No money for thier Proxies
Baxter I saw one guy today in walmart with three shopping carts... clear full of water
biff RO Water
Baxter bottled water cases of water
biff the best water you can drink RO Water
Baxter there was no lettuce at all... very few gallons of milk left..
biff dayum
Baxter just crazy
********************8
biff Is shiot is by design by the deep state
Baxter absolutely
biff These people are crazy !!!! They will do anything to stop Trump
Baxter yep... and he knows it
biff Baxter I saw something on Youtube about the CDC. Rosenstien's sister is on the board of the CDC. Media Relations/ Communications.
Baxter really wow
biff its true
Baxter very interesting
Wilder Many different opinions out there on the speculation of the decline of cost per barrel. A supply flood and inventory surge
The impending flood of supply, overwhelmed inventories and coronavirus-led demand shock to a commodity that was already seen as relatively depressed in terms of pricing will inevitably slam those prices further — the question only remains as to how much.
Not everyone shares Khedery's $20 per barrel oil forecast. Goldman Sachs predicted a bottom-out price of $35 per barrel in the event of a price war, or a fall to $40 before a second-quarter average of $42 if nothing changes.
Emirates NBD forecasts Brent prices to average $45 per barrel and WTI at $40 "with troughs in Q2 before a tentative recovery over the rest of the year."
Correction: Ali Khedery is CEO of U.S.-based strategy firm Dragoman Ventures. An earlier version misstated the country
Baxter Iraqs budget is set at 52 dollars a barrel...
Baxter Dropped again: 32.18▼ -9.10 -22.04% EDT. Delayed 15 minutes. Currency In USD
Zig Baxter : All Iraq has to do is RV and they'll have plenty of money according to some Gurus....It works like that, right???
xyz This is from my trusted sources who depend on the truth in their information as it is from much higher sources https://dinarrecaps.com/our-blog/dinarangel-ktfa-jim-willie-and-more-sunday-evening-3-8-2020
Chattels Iranian Health Ministry: there are 6566 Corona cases in Iran. http://mobp.as/PJcDq
Baxter Chattels.. did you see what Oil did today?? Dropped over 20 Percent..
chattels " .............. the current head of the Iraqi intelligence service, Mustafa Al-Kazemi, and the chief adviser to the Presidential Office, Ali Shukri, ............." Two characters nominated to head the new government .. And decisiveness next week. Editing Date: 3/3/2020 23:18 •
http://www.alliraqnews.com/modules/news/article.php?storyid=87629
chattels Baxter That should leave a red mark on the Iraqi " budget ".
Baxter down to 32 dollars.... and still falling
Baxter I brought in a big article a couple of hours ago.. its a good read
chattels Baxter Brutal for oil dependent economies.
Baxter said it could get down to 20 dollars this YEAR
Baxter Russia pulled out of OPEC it will devastate Iraq... for sure if it happens
Jimmy Lee Baxter brent...35.90 crude 32.63
Baxter yep... in june of 2008... it was 128 dollars a barrel just crazy
Jimmy Lee crazy 4 sure
Zig Footforward: He is still around.....lol...... "Suddenly people are talking about how Iraq's economy is in trouble... The puzzle pieces are coming together so well... Without an RV Iraq is in big trouble."
Xyz Oil Crashes, Stocks Plunge in ‘Wild’ Trading: Markets Wrap https://finance.yahoo.com/news/yen-surges-oil-price-war-204315738.html
xyz 3-7-2020 Newshound Guru Kaperoni ... it's a known fact that over 70% of the currency in Iraq is ...
xyz IQD?
xyz 3-7-2020 Newshound Guru Kaperoni the CBI is reducing the note count.
xyz Per https://www.dinarguru.com/
Xyz Bloodbath on world markets: Dow to open 1,000 points lower, FTSE to sink 300 points and oil prices see the biggest plunge since the Gulf War in 1991 amid oil price war https://www.dailymail.co.uk/news/article-8089691/Dow-Jones-futures-tumble-1-000-points-amid-oil-price-war.html ;crying;
xyz Coronavirus may force Americans to avoid ... health official https://www.thebaghdadpost.com/en/Story/47416/Coronavirus-may-force-Americans-to-avoid-crowds-and-cancel-cruises-health-official-warns
xyz Iran Says Expulsion of US Troops from Iraq Imminent http://www.basnews.com/index.php/en/news/iraq/587406
ERBIL - Ali Shamkhani, the secretary of Iran’s National Security Council, said on Sunday that the expulsion of the US troops from Iraq is imminent, noting that killing Iran's top commander, Qassem Soleimani, by Washington was a "strategic mistake."
Shamkhani made the comments on Sunday during a meeting with Iraq's Intelligence Chief Mustafa al-Kazimi in Baghdad where they discussed various topics, reports said.
"Assassinating generals of Resistance Axis, Marty Haj Ghasem Soleimani and Abu Mahdi al-Muahdis, was the result of a strategic mistake by Trump and the evil team in the White House," he said, according to Mehr News Agency.
"The countdown to the expulsion of America from the region began the early morning of Friday, Jan. 3."
Kazimi is also a candidate of the Shia factions for Iraq's premiership.
Shamkhani further argued that the participations of people in gatherings outside of the US embassy in Baghdad indicated that they want the US troops out of the country.
"Political and security developments of Iraq have a grave influence on regional stability and peace," he said, adding, "The Islamic Republic has always supported the formation of powerful and efficient government according to Iraqi people’s vote and determination."
xyz BIG MISTAKE if true
xyz Shamkhani: Countdown started for expulsion of US forces from region
https://www.presstv.com/Detail/2020/03/08/620419/Shamkhani-Mustafa-Kadhimi-Iran-Iraq-US-troops
The secretary of Iran's Supreme National Security Council (SNSC) says the countdown for the expulsion of US forces from the region has already started after the assassination of Iran's top anti-terrorist commander, Lt. Col. Qassem Soleimani and his companions in Baghdad in early January.
xyz US muddling region, pressuring Iraq to cut ties with Iran: Iraqi PM https://www.presstv.com/Detail/2020/03/08/620436/US-pressuring-Iraq-cut-ties-Iran
xyz some dinarians have given up!
xyz Zig it's noy easy being a dinarian Lots of fork think we are nuts and think that we are Conspiracy Theorists Zig I know I am not but not sure of you and others :popcorn
Kaperoni What's new Zig?
Kaperoni Members sitting around here waiting for some significant RV even though it's mathematically impossible?
Kaperoni I scrolled up above and it looks like XYZ is putting words in my mouth again something about reducing the money supply or the note count? No I never said that and that's physically impossible to significantly reduce the note count or money supply as long as the currency auctions exist
Kaperoni And when over 70% of the physical currency is outside the banking system it's impossible for the CBI to do much of anything except try to convince citizens to open an account and deposit their funds.
Kaperoni Well y'all have a good night and I'll make a wager with anyone that nothing happens tomorrow pertaining to the dinar. LOL