Russia's Deputy Prime Minister Novak stated that Russia almost completely fulfilled the OPEC+ deal in May, with Saudi Arabia expected to produce more oil than Russia due to deeper output cuts. Novak mentioned that oil prices declined post-OPEC+ meeting due to speculative factors and sees prices at $80-$85 per barrel until year-end. Russia plans to cut oil output to around 9 million barrels per day by the end of June. Russia's compliance with OPEC+ output cuts in May was close to 100%, aiming to reach 9 million barrels per day by the end of June. Saudi Arabia announced the end of the petrodollar agreement, allowing oil sales in currencies other than the US dollar.
Perspective: Last Sunday, June 9th 2024, Saudi Arabia ended the 50 year old petro-dollar agreement with the US https://t.co/sVKuuHVtlc
Since 1972, $USD has been the Utility Token for the Saudi Oil app. As of today, for the first time, this is no longer true. "The recent expiration of the US-Saudi petrodollar deal on June 9, 2024, heralds a significant shift in global financial dynamics ... The agreement,…
BREAKING: PETRODOLLAR DEAL NOT RENEWED BY SAUDI ARABIA. DEAL ENDED JUNE 9TH, 2024 big implications to US economics and our deficit spending 👀
JUST IN 🚨: The Petrodollar Agreement ended yesterday, allowing Saudi Arabia to sell oil and other goods in currencies other than the US dollar. https://t.co/09cix4ZKKj
The Saudi petrodollar agreement officially end yesterday. Interdasting: https://t.co/Q5pilsWJ2h
Russia reduced oil output by 344K barrels per day in May, falling short of their target as they produced 9.393 million barrels per day. #Russia #OilProduction
🛢️ Petrodollar Deal ended yesterday. The 50-year deal between the USA & Saudi Arabia to sell oil in dollars is over. This would lead to lower demand of US Dollar. Do you think it gets renewed? 💸
🛢️The Petrodollar Deal ended yesterday. The 50-year deal between the USA & Saudi Arabia to sell oil in dollars is over. Do you think it gets renewed? 💸
🛢️😂The Petrodollar Deal ended yesterday. The 50-year deal between the USA & Saudi Arabia to sell oil in dollars is over. Do you think it gets renewed? 🐫
On June 9, 2024, Saudi Arabia is expected to announce that it will cease all oil sales in US dollars, marking the end of the 50-year Petrodollar Pact signed on June 6, 1974, which expires on June 9, 2024. This decision is a significant shift in global oil trade dynamics and could…
#Russia: Compensation volumes will be known in a week Russia’s compliance with #OPEC+ output cuts close to 100% in May Russia aims to reduce production to agreed levels and reach 9m b/d by end-June Deputy PM Novak #oott
RUSSIA’S DEPUTY PM NOVAK: RUSSIA WILL CUT OIL OUTPUT TO AROUND 9 MLN BPD BY THE END OF JUNE.
RUSSIA’S NOVAK ON WHY OIL PRICES DECLINED IN THE WAKE OF OPEC+ MEETING: THERE ARE MANY SPECULATIVE FACTORS, WRONG INTERPRETATIONS OF THE AGREEMENT || NOVAK SEES OIL PRICES TO BE AT $80-$85 PER BARREL UNTIL YEAR-END || NOVAK SAYS RUSSIA WILL CUT OIL OUTPUT TO AROUND 9 MLN BPD BY…
RUSSIA’S NOVAK: RUSSIA ALMOST COMPLETELY FULFILLED OPEC+ DEAL IN MAY || RUSSIA’S NOVAK: SAUDI ARABIA WILL PRODUCE MORE OIL THAN RUSSIA BECAUSE SAUDIS HAD REDUCED OUTPUT MORE DEEPLY
RUSSIA’S DEPUTY PM NOVAK: RUSSIA ALMOST COMPLETELY FULFILLED OPEC+ DEAL IN MAY.
⚠️ RUSSIA’S NOVAK: **RUSSIA ALMOST COMPLETELY FULFILLED OPEC+ DEAL IN MAY **SAUDI ARABIA WILL PRODUCE MORE OIL THAN RUSSIA BECAUSE SAUDIS HAD REDUCED OUTPUT MORE DEEPLY **RUSSIA’S NOVAK ON WHY OIL PRICES DECLINED IN THE WAKE OF OPEC+ MEETING: THERE ARE MANY SPECULATIVE…