At this Sunday 17th April in capital of Katar – Doha will be held meeting of oil-producing countries, some of which are members of OPEC and some are not. On it possibility of oil production level freezing will be discussed, which will allow to stop its prices falling and then lead them to growth and stabilization. Countries set their requirements : Saudi Arabia will freeze its production only if other countries will do the same, but Iran does not want to do it and wishes to rise its production level to pre-sanctions level. So, it’ll be hard to come to agreement, but possible still; if this will happen, then oil prices will start to slowly grow and stabilize; economics of Russia and ruble will follow it; if not, then ruble exchange rates with other currencies will have large volatility and new meetings on the same theme will be held. Both scenarios can be thinkingly used for personal benefit.
On this week it became known, that Saudi Arabia threats to sell USA‘s obligations on 750 billions USD, if congress will approve law, that allows to bring to responsibility SA’s government, which, presumably, is involved in acts of terrorism in USA at 11th September of 2001 year. It will be hard to do this technically, but, if part of these threats will be implemented, then this can decrease USA’s economy growth; however, there is possibility, that USA will freeze these funds and confiscate part of them later, as compensation on SA’s government involvement in 11th September 2001 year acts of terrorism. There is some wrestling between these countries go on : Saudi Arabia tries to run down shale oil production in USA, USA answers, as it can, SA threats to answer in its turn and so on. All in all, for Russia it is profitable for those countries to not cooperate tightly and to not be able to make strong influences on world economy areas, which directly affect country’s economy. So : let them wrestle further and pursue their own interests. This is all for today in economics area.
