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MbS and Coronavirus sink global markets (Video)

The Duran Quick Take: Episode 494.

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the collapse of global markets as Saudi Prince MbS enters into an oil price war with Putin and Russia, while coronavirus spread causes mass panic across financial markets.


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Via RT…

American shale drillers are poised to be among the biggest losers in the Riyadh-launched oil price war, experts told RT. They say the kingdom’s dramatic move will be ‘painful’ for the US fracking industry.

Saudi Arabia’s Crown Prince Mohammed bin Salman is trying to give OPEC control over the price of oil, according to political expert Jack Rasmus.

“What’s really happening long-term… the problem is the US oil fracking,” he said, explaining that the US is pumping 12 million barrels a day, driving up the glut in global oil at a time when the global economy is slowing down.

“Bin Salman is rolling the dice, dropping the price of oil even further,” said Rasmus, professor of political economy at Saint Mary’s College of California. He added that “the idea is to get Russia back to the negotiating table in the short run, but in the long run, I think it’s about driving these American fracking companies out of business, you see, causing them to go bankrupt.”

Rasmus explained that the smaller fracking companies are caught in a competitive situation where they, unlike Russia and the Saudis, have no interest and can’t afford to agree to cut output.

His views were echoed by Oil Associates LLC President Andrew Lipow, who told RT that the US shale producers are undoubtedly “going to feel pain.”

“We’ve already seen a number of announcements of laying off people and cutting rigs,” Lipow said.

Most of the 57 members of the S&P Oil & Gas Exploration & Production Select Industry Index fell on Monday, following the global stock market rout. US shale producers Oasis Petroleum, California Resources and Occidental Petroleum plummeted more than 40 percent. On Monday, shale producers Diamondback Energy and Parsley Energy said they were cutting the number of drill rigs in response to the oil price crash.

After failing to agree with Russia on production cuts, Saudi Arabia pledged on Sunday to supply a record 12.3 million barrels per day (bpd) next month, a massive production hike from the current nine million bpd to flood the market. As a result, global crude prices dropped 30 percent on Monday.

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Diana
Diana
March 10, 2020

This coronavirus hoax is getting ridiculous. I’m surprised that Alexander and Alex have fallen for it. I would mention that 5G has been rolled out in Wuhan and Milan – nothing to worry about there then. Let’s look at some statistics: Admiral Brett Giroir, the US Assistant Secretary for Health has said that “The best estimates now for the overall mortality rate for COVID-19 is somewhere between 0.1 and 1%”. The average annual death rate for ordinary flu (and I expect there’s plenty of pneumonia in that) for the US is 63,730 and according to the Right Diagnosis website death… Read more »

Haeul
Haeul
Reply to  Diana
March 10, 2020

The virus can hardly be called a hoax, even if it is being politicised. While it is unlikely, given the measures taken, that the nCoV will kill as many as the regular flu does on a yearly basis – though that remains to be seen – for the simple reason that these measures contribute towards lowering the number of infected, it remains a fact that, proportionately, the number of those requiring intensive care is much greater with this virus, than the regular flu. And therein lies the problem. The hospitals in northern Italy are already bursting at the seams, because… Read more »

Diana
Diana
Reply to  Haeul
March 11, 2020

Check out Jon Rappoport. He has a lot of well sourced information on this. This is being hyped up and frankly, if you are in good health with a strong immune system you are unlikely to catch anything. I saw in the US, among the recommendations, that people get in a good supply of their prescribed medication and loads of tinned and frozen food. That says a lot because if people are taking allopathic medicine they’re not in good health in the first place and eating stuff out of tins lined with Bisphenol instead of fresh organic produce isn’t going… Read more »

Diana
Diana
Reply to  Haeul
March 11, 2020

An interesting article on the Tap Blog this morning: http://tapnewswire.com/2020/03/lateral-thinking-says-5g-is-being-secretly-launched-across-the-world/. HIghly relevant to 5G and the coronavirus.

Diana
Diana
Reply to  Haeul
March 11, 2020

Or this from Aangirfan:
Wednesday, 11 March 2020
CORONAVIRUS – updated
Dr.SHIVA Ayyadurai, MIT PhD.✔@va_shiva

“As an MIT PhD in Biological Engineering who studies and does research nearly every day on the Immune System, the #coronavirus fear mongering by the Deep State will go down in history as one of the biggest frauds to manipulate economies, suppress dissent, and push MANDATED medicine!”

Olivia Kroth
Reply to  Diana
March 11, 2020

I am all with you on this, Diana.

Jaime
Jaime
Reply to  Diana
March 11, 2020

In SK, the mortality is 0.6%, but that is still a big number of people. That number is several times the number of people that die because of influenza. Moreover, when more and more people arrive at the hospital and there are no beds or machinery to deal with that “tiny” 0.6%, what happens? The numbers start to grow and people -not only the elderly- start to die.

SteveK9
SteveK9
March 11, 2020

You keep calling Trump a ‘strong leader’. The last 3 years have demonstrated little of that. He did not build his ‘wall’, he was not able to stop any of the ridiculous wars (although he may be getting somewhere finally on Afghanistan), he was not able to deal constructively with Russia, and he was not able to shut down and destroy the absurd Russia-gate plotters.

Here is a good overview of the current political situation in the US from Jonathan Cook, published at Consortium News.

https://consortiumnews.com/2020/03/10/bernie-bros-were-invented-as-sexist-racist-and-anti-semitic/

Brokenspine66
Brokenspine66
March 11, 2020

I guess the AmeriCunt Regime + Deep-State already planing/plotting to remove MbS from their global chess board AKA their [imagined]Global Realm.

Karsten Bjerreskov Farup
Karsten Bjerreskov Farup
March 12, 2020

The issue with corona is not the death toll. It will not end up being very large. It is the strain on health services. In Italy people can’t be treated properly for a range of diseases – because corona patients fill up the hospitals. And qiute a few corona patients can’t be treated either. Therefore the death rate will be higher in Italy than in for instance my country, Denmark, where closing of schools, childcare, several work places is now in effect. The authorities are concerned with confidence in the system as well as reducing casualties. A crisis like in… Read more »

Busting HYSTERICAL headlines in the era of #coronahysteria

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