January 29th, 2016
Yesterday, Russian Energy Minister Alexander Novak claimed that Saudi Arabia had proposed a 5% cut in oil production.
That set the oil price rollercoaster off and running, with crude prices shooting up to levels not seen in a month.
As of close of oil trade yesterday (2:30 pm Eastern), West Texas Intermediate (WTI) – the New York benchmark oil rate – was up 7.7% since Monday, with the first three-day price rise of the year.
There is only one problem.
My contacts in OPEC and Saudi Arabia tell me that things look very different behind the scenes.
Here’s what’s really going on…
January 20th, 2016
The Russian financial situation is heading south again… and fast.
Crude oil prices of less than $30 a barrel are bad enough, but Russia’s high-sulfur export blend, the Urals Export Blend Crude (UEBC), can’t even fetch that.
Instead, UEBC is trading at $26 a barrel – or less.
Natural gas is faring even worse.
For a country like Russia – which remains dependent on oil and natural gas exports to prop up an unwieldy central budget – this is very serious indeed.
There is only one way out of this mess… and one very simple way for you to profit in the meantime.
But first, here’s the truth about Russia’s energy-dependent economy…