RUSSIAN $100 Billion Oil Disaster as Production Cuts, Sanction Discounts & Price Falls Hurt Russia

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IN February RUSSIA announced a temporary 1 month Cut in Oil Production of 500,000 Barrels Per Day however it has recently announced that the Cut will continue for the rest of 2023. The reason for the cut in production was the direct impact of the the European Ban on the purchase of Russian Seaborn Crude Oil on 5th December and the purchase of Refined Products on 5th February. In addition to these Bans Price Caps were also introduced for each product on the same dates. However President Putin recently announced that the Production Cut was to maintain price levels. In this video I provide more information, analyse the impact of the production cut on the price of Russian Oil, look at the impact of the Oil Price Discounts and Market Price Falls on Russia's revenue and discuss the future impact on Russia.

For specific details please check out the CHAPTER list below.

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Chapters:
0:00 Intro
1:50 PRODUCTION CUTS
4:29 OPEC+
7:05 OIL PRICES
11:03 RUSSIAN OIL PRICES
14:08 SUMMARY & CONCLUSION

#UKRAINE
#russia
#pricecap
#GLOBALFINANCIALCRISIS
#RUBLE
#SWIFT
#RECESSION
#CHINA
#USA
#NATO
#WW3
#WORLDWAR3

[joelashdod]

You are missing the real issue. You should be tracking net income, not revenue. It costs Russia $40 to produce a barrel of oil. Last year they could sell it to Europe at $80 a barrel minus $3 transportation cost for a net income of $37/a barrel. Today they are selling it at $55 a barrel, transporting to Asia for $12 a barrel and netting $3 a barrel. That’s the real story, a 90% drop in net income.

[jeffcurtis]

Great work Joe. I wish the media would report this as its a real good news story.

[aepoful]

Love to see this, @Joe Blogs. As a Ukrainian, your videos make me very happy :)

[oldsilver]

Thank you Joe, good news on that front. Appreciate your dedication. 🌟

[marmelaaden]

Thank you Joe, another interesting and informative video! Also, loved the squirrel at the end :D

[jerrysartain]

Great work as always Joe.Thanks for all the information, you deliver so professionally.

[AlwaysBastos]

Russia is cutting production because they cannot store unsold oil.

[melanieanddavideccles]

Thanks Joe, I wouldn't have the breadth of understanding without you! I appreciate you.

[petersz]

Zelensky made a really smart move visiting the Arab League. Many Arab countries rely on Ukrainian grain imports and they are not happy with Putler with that supply being interrupted!

[anthonyferris]

And now Russia has now told India, it won’t accept rupees anymore, as it has accumilated too many.

[porkyvonchop]

Organization of the Petroleum Exporting CARTEL

[ianlewis]

As the price of oil goes up, it 👍will👍 speed👍 up👍 Green👍 energy 👍production 👍🌻

[doncarlodivargas]

Russia and the drama we see now tell us how important it is to not going insane, to not believing in your own lies and to go to war not being prepared

[kickicker]

The price caps are working like a charm.

[robstone]

Russia has accumulated far too many Rupees selling to India, it is now complaining it can’t do anything with them. When you are getting paid in a currency that you cannot use, you are not selling your oil, you are giving it away for free.

[johnschwartz]

Hi Joe - Miss seeing You in the morning when I catch up on the latest!
I love Your insightful presentations!😂🤣🌈🎉👍🥰
Have an Awesome Day!!

[considerthis]

The real issue is it will take until 2024 for Russia to run out of reserves to cover its deficit. The long game will not work for Russia unless China rescues them.

[stephenthomas]

Please, PLEASE can we seriously start weaning ourselves off oil now...?! We subsidise oil to the tune of trillions, global temperatures continue to rise inexorably causing mayhem and destruction, air pollution is a global killer and oil provides the means for the vilest autocracies to survive . What more motivation do we need...?!

[pjhgerlach]

We have to phase out fossil energy if we want to break free from the OPEC extortion.

[sofjanmustopoh]

Unfortunately sanction is very slow. It has been 1 year now . Russia is starting feeling the effect.
Unfortunately for Russian people the longer the war, the worse the aftermath effect it is going to be for many years to come for Russia’s economy .

The brain drain from Russia is incredibly high.
Putin regime just trying to survive it’s reserves and money made from selling oil and gas.
But Russian people don’t have those money to survive long term