1. Yesterday's news - Saudi Crown Prince Mohammed bin Salman, at the request of the United States, announced an increase in oil production to 13 million barrels per day (currently at 10 million). That is, the market will receive 3 million barrels more daily. Is it a lot or a little?
First we have to see if they actually increase production that much and if Aramco is going to blow up again cutting the current production by another 50% dropping 10 million to 5!
By the way EU imports between 13 to 15 million barrels of oil per day.
Look how interesting it turns out - you believe the idiotic propaganda from the Kremlin and take their statements as the only truth, but here "you still have to look"
Do not measure everything in Russia - they systematically lie only in Russia! What you will soon see!
2. Iran. Southern Azadegan. Who does not know - a large oil field in Iran, separated from the Azadegan field in 2006. Recoverable oil reserves in Azadegan are 9 billion barrels (about 1.2 billion tons), or 1/8 of ALL RESERVES of Russian oil (mostly difficult to produce). Now the field is already producing oil and is actively developing.
None of it will go to the West though.
Iran is selling some small amounts to the West which there is no plan to increase it in near term. For example we recently learned from the US senator that the US Navy, the same Navy that idiot called Trump threatened Iran with, has been running on Iranian fuel LOL.
I absolutely agree that Iran will not sell everything to the West. I even wrote below - everything will go to the markets of China and India, where Iran will compete by dumping oil supplies. You don't need anything else
At the same time, I do not exclude at all that such countries as Venezuela, Iran - can make a "deal with the investigation", or rather with the United States and in exchange for oil supplies to the US market (primarily Venezuela), and the EU (more likely Iran), and gain more loyalty and lift some sanctions....
Although when it comes to politics we can't talk in absolutes but this is not possible. You see the problem is that more than 60% of the world is under US sanctions one way or another. So at some point it is US that is under sanction by the majority of the world.
What you are also forgetting is that the current war is between East and West not between Russia and Ukraine.
In this face off, Iran is in the Eastern bloc and is becoming the center of all trades. In other words there hasn't been any need to export anything (more than what existed for years) to the "West".
South America is also a region that US has been losing for some time, almost all countries there are moving to Anti-US governments and most of them are playing with the Eastern bloc too. Fun fact: for the first time in history a foreign super power (Iran) is going to hold military drills close to US waters next month with Venezuela (bye bye Monroe Doctrine haha).
About the fact that adamant Russia here is destroying the rotten West, I have been hearing this nonsense for the last 3-4 months ... Since the "great Russia" got into its stupid snout from the Ukrainians, and ran away with a screech from almost half of the occupied territories. I'm sure you noticed how the controversy of the Kremlin propagandists has changed. At first, they gathered heroically and easily to "denify" Ukraine, and after they got hit in the face, they suddenly began to fight with the West. The reason is simple - you can’t tell the Russian cattle, the consumer of propaganda, that they were actually fucked by the Armed Forces of Ukraine, which, according to the very propaganda, should have surrendered and scattered in the first weeks! So I had to invent a new fairy tale for unicellular
In short, don't repeat this nonsense anymore, you look stupid, no offense
1. Russian oil exports will irreversibly lose the European market. At what without harm to the EU but with huge losses for Russia.
Russian economy is harmed and will be harmed but nowhere near as much as EU economy is and will be.
Remember the Iranian tanker that Greece seized and was later forced to give back? That is carrying Russian oil to Western Europe.
In other words EU will continue funding the Russian invasion.
I agree, guess!
For some time, due to the impossibility of a quick (months) change in supplies, or rather the ways of supplying gas and oil, the EU, namely Germany, France, most likely Italy and Hungary, will still continue to buy oil and gas in Russia. But this volume will constantly decrease. And in 2-3 years, this flow will dry up. That's right, it will be!
2. Will the active development of production in Iran lead to increased price competition in the Chinese and Indian hydrocarbon markets?
No because there is an alliance between Iran and China which India also wants to be part of. Not to mention that the increased production is because of increased demand, all of which came from the East not the West since Iran is still under Western sanctions (or as I said West is under Iranian sanctions, yesterday alone 61 Americans were sanctioned by Iran).
China, and most likely India, has no partners. The largest countries and economies of the region have only raw material appendages - the same Iran, the same Russia
Tell me what is more profitable for China and India in economic relations - the EU and the US markets, which have an almost limitless size for sale and pay with strong currency, or impoverished, backward Russia with a resource economy? With whom will they really "be friends", and whom will they "use" for their own benefits?
3. Countries dependent on Russia's "antics" in the hydrocarbon market will very quickly find adequate suppliers, and in the short term the problem will be solved.
It's been 5 moths bro, how much longer is "short term"?
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Don't worry bro - since the new year they are introducing an embargo on the purchase of Russian oil in the EU - we will continue at the end of the first quarter, do not forget to take the 1Q23 report for comparison with 1Q22 on the execution of the Russian budget in terms of oil revenues