Chapter 1769: Production has to increase

Saudi Arabia’s king, King Abdullah, is sitting with the other heads of other opec member states. Everyone looked at each other and no one spoke.
Crude oil production has indeed caused crude oil prices to rise, and their income has not decreased, but has increased.
However, the trade in these countries has had serious problems. Not only the countries of the United States, China, the islands, and Russia have imposed economic sanctions on them, but even the EU side has participated in it.
It can be said that opec has touched the interests of most countries.
Opec's reserves and production will account for about 40% of the world. At this time, other countries have joined forces to start suppressing crude oil prices, and they may not be able to survive.
Now that this trade blockade has caused them to lose a lot, the prices of many domestic necessities have risen, so inflation will occur in these countries.
Then even if they make more money, the standard of living of the Chinese people will fall, and it will not be worth the candle.
Within their organization, there is also debate at this time whether it is necessary to compromise and restore crude oil production in exchange for other countries to unlock the trade blockade against them.
These big countries have joined forces and their opec is really unstoppable. It seems that the price of crude oil is constantly rising, but in fact it is mainly driven by international speculators.
If there is no such funds, how high can the crude oil price be? The key is that they are making money now, but they can't change the materials they need to live. This is the most troublesome.
Which of these countries are agricultural countries, except that water is produced by themselves, and the rest are imported, and so on.
However, at this time, other countries will definitely ask them to increase production, which will push the price of crude oil back below 60 dollars.
And the shale oil that the country made in the country, if it can be mass produced, the impact on them is very large. In addition to energy such as oil, what other valuable products do they have?
That shale oil will greatly increase the production of crude oil, thus lowering the price of crude oil.
"Everyone doesn't talk, then let me know. The price of a piece of bread for making bread in our country has tripled. It is all subsidized by political axe, otherwise the country will be overwhelmed by inflation." Said Budullah.
Money is not worth the money, and many lives will inevitably undergo major changes.
"When the country, Europe and other countries get this shale oil out, our crude oil price will inevitably fall, but certainly not too low."

The international demand for crude oil is still increasing. We maintain our output last year and still allow us to have a high income.

"No, the price of crude oil has fallen, and our output has remained the same, so the income is definitely falling." Some people said.
"Crude oil prices will not fall below 60 US dollars. Do you really think that the cost of shale oil can be lower than our mining? The cost of their barrel of oil must be more than 60 US dollars."
"So if the oil price is very low, then they are at a loss, so they will cut production, or even stop production, and then crude oil production will return to normal orbit." Abdullah said confidently.
The cost of shale oil? This problem was not carefully considered before. But they also believe in Abdullah's words, how can oil extraction from oil shale be lower than the cost of direct mining? And it is a huge investment to build oil pipelines and refine factories.
On average, their cost will be higher. If this is the case, maybe after the emergence of this shale oil, the price of crude oil will remain high!
Everyone suddenly felt that it was not impossible to make concessions on shale oil. Just as one or two of the opec members come out, they will also welcome their hands, so that their organization's influence will be even greater.
It is only this country that wants to develop shale oil vigorously. It is the largest country in crude oil imports, which makes them very worried. If the production of this shale oil is very large, can it be imported from the country if it is really true?
It is also said that there are also oil shale mines in China, as well as in Russia and in many European countries. If you start to get this shale oil, you are self-sufficient, and their status will inevitably drop a lot.
For example, Saudi Arabia is now a well-developed developed country. Even in developed countries, all kinds of welfare benefits are top-notch and rich.
If the income declines, many of their welfare benefits will not be implemented, and it may be shaken.
"Then let's talk to other countries and resume production? But they asked us to increase production, so I am afraid that the price of crude oil will plummet." Some people worried.
"It doesn't matter, we only promise to increase production this year. As long as we reach January 1 next year, we can limit production again. And increasing production will lower the price of crude oil, which will stop them from getting this shale oil."
With fifty dollars a barrel of oil, do you have to spend seventy dollars a barrel to produce? Isn't that brain damage?
"Yes, just as we use production to talk to them, ask them to resume trade with us immediately, and sign long-term contracts to ensure that we will not be threatened in the future!"
Everyone is thinking about how to fight for the interests of their country after thinking about taking a step back.
The soaring price of crude oil during this period has eased the economic pressure in many countries. Opec has a local tyrant such as Saudi Arabia, but there are many debts in Iran and so on.
Just now the price of crude oil has skyrocketed, so that their income has skyrocketed, and the use of some crude oil to offset the debt has eased their external debt pressure.
If crude oil can always be at such a high price, they have long paid off their debts and got rid of poverty and become rich!
They also know that this is impossible. Crude oil now breaks through $140/barrel, which definitely exceeds the rational price.
However, they believe that it is very possible to maintain a price of more than $80 for a long time. If the rice country produces shale oil, it is said that the rice country will also raise the price of crude oil.
After discussing some conditions that everyone can accept, they began to send representatives to negotiate with the countries with the most crude oil imports such as the country of rice, China, the island, Russia, and the European Union.
As long as they agree, then things will be solved.
Feng Yu is swimming in the swimming pool. He hears the phone ringing. He climbs ashore and connects to the phone.
"Feng Yu, now we are negotiating with representatives of the UAE. The other party is representing the opec organization. They have put forward a good condition. I don't think it will take a few days. I am afraid that opec will announce the recovery of crude oil and even increase production!"
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