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OPEC, allies agree to extend deep output cuts through July
At a time when governments have higher than usual expenses and considerably lower tax revenues, certain very deserving governments continue the trend of substantially lower oil income. [AlAhram] OPEC members led by Soddy Arabia...a kingdom taking up the bulk of the Arabian peninsula. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual hajj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. When the oil runs out the rest of the world is going to kick sand in the Soddy national face... and other key oil producers agreed Saturday to extend historic output cuts through July, according to the United Arab Emirates Oil Minister Anwar Gargash. The 13-member cartel and its allies decided to extend by a month deep cuts, first agreed in April for May and June, to boost prices hit hard by the new coronavirus (aka COVID19 or Chinese Plague)  ...the twenty first century equivalent of bubonic plague, only instead of killing off a third of the population of Europe it kills 3.4 percent of those who notice they have it. It seems to be fond of the elderly, especially Iranian politicians and holy men...pandemic, Gargash said on Twitter. Posted by: trailing wife 2020-06-07 |
| http://www.rantburg.com/poparticle.php?ID=573701 |