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Post Doha Failure, Russia Threatens to Hike Oil Production

No one gives a shit. The world just wants to be long of crude oil, in any terms possible, even bitcoins.

Post Doha, Russia’s oil minister is talking greasy.

Freed from a plan to coordinate output with OPEC members, Russian officials said Tuesday that the country may boost both production and exports. Output could grow by 100,000 barrels a day to 10.81 million a day in 2016, according to Deputy Energy Minister Kirill Molodtsov.

“And why not?” he said at the National Oil and Gas Forum in Moscow. “It’s possible.

Crude is up 4 or 5% now. I don’t keep track anymore. I’m too busy eating dumplings.

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One comment

  1. widespreadpanik

    Where we’re going we don’t need roads.

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