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11.03.2020
Putin wants you to go to the 2020 Pan-Americans


The fight isn't just between Saudi Arabia and Russia, that is just
the fallout from Putin's desire to put a lot of US oil companies into default
(they are all highly leveraged). This means a bust in Big Spring (a boom and
bust town). Which means that we as customers for hotel rooms (and AirBnB houses)
in Big Spring have a lot more leverage than has been the case for the last few
years.



https://www.bloomberg.com/news/articles/2020-03-07/putin-dumps-mbs-to-start-a-war-on-america-s-shale-oil-industry

“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.”

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.f

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.


West Texas Intermediate Crude Oil Price is between $34 and $35.

http://www.cx-portal.com/wti/oil_en.html

https://airtribune.com/2020-pan-american-championships/info/details__info



https://OzReport.com/1583930349
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