Blogger alekandr Kovalenko, known under the name the Angry inhabitant of Odessa, writes that Saudi Arabia is out of oil wars with billions of dollars in net profit. At the beginning of the confrontation propagadisty in Moscow, betting on the ruin of the pool of Arab countries, which for the first time in decades, spoke out against Russia, according to Диалог.UA.
At the beginning of the economic confrontation, initiated by Moscow, Saudi Arabia has become the locomotive of the process of “devaluation” of oil. Then almost all Russian experts claimed that Riyadh was a dumping sentence. No one in Russia was no doubt of the futility of the venture in Riyadh.
“What, the Russian experts have long had a rather unique reputation, and the current situation proves that their opinion should not be considered in principle,” says Kovalenko.
According to official data, during the first quarter of 2020, Saudi Aramco achieved a net profit of $16,66 billion.
As previously reported, the oil war began on 9 March, after Moscow’s refusal to cut production of fuel under the deal, OPEC+. Saudi Arabia in response to the announced production capacity of raw materials and impressive discounts on fuel. After a month of confrontation between Moscow capitulated, accepting a disadvantageous deal.
Just over a month, Russia lost some of its customers in Europe – low price of the Saudi raw materials “seduced” even Minsk, which has long asked the Kremlin to “brotherly” reduction in tariffs.
In may it became known that oil production in Russia for the first time in 11 years fell below 10 million barrels per day.