All across the world whats the whats the gambit go ahead. Well thank you yeah the timing the gambit of the gambit as well as a separate thing all this turmoil and black swans concurrently happening around the world really kind of begs certain geo political questions in my opinion you have coronavirus more or less announced really kind of command saying on new years eve and then the rollout is fairly rapid and. In a sense the attention being kind of collapsing of as you said already low Energy Demand but as a demand especially within chinas collapsing then you have the announcement of the pandemic and the timing then of opec really saudi arabia and to a certain extent now u. A. E. You know just insisting on the pullback which would in turn affect the desired medium term desired from russia to capture more of the Global Market share within the energy space and at some point there was a budding of heads russia i sensed saw through you know a certain coordination issues you had unofficial
Since 1980 sevens a black monday crash caused by investor fears over handling of the 1000 crisis. Taylor is here next hour with the latest updates but 1st. Prices are battering the world economy. Ways and the issues next day with. Hello and welcome to cross talk were all things are considered im Peter Lavelle with the coronavirus now officially declared a pandemic the world faces the additional burden of an Oil Market Collapse this comes at a time when demand for crude was already low some are calling this the ultimate perfect storm. Ends is anyones guess. Crude carnage im joined by my guess was me in beirut hes a professor of economics and International Affairs in irvine we have pai and he is an independent economic and political analyst as well as a former commodities trader and in toronto we Cross Alexandre Bruno he is an analyst at gulf state analytics sorry gentlemen crosslike rules in effect that means you can jump in anytime you want and i always appreciate pilot may go to you 1
Their homework and they sense that they can write out a price war much better than the very over leveraged you know 50000000000. 00. Budget constraint to saudi arabia that needs 83. 00 a barrel of oil in order to balance its budgets as well as fund its longer term visions of getting off of oil and expanding its economy under the vision of mohamed bin solomon so its really people have to look at this as a sense of it these are not just necessarily coincidences in my point of view because the ruble was strengthening last year russia has been on a d. Dollarization platform in order to diversify away from dollar reliance in part to fight sanctions thrown against it as well as its partners but also to strengthen its own ambitions to have its currency the currency of its allies really rival if not travel. Its the 47 year old petro Dollar Standard which is the effective monopoly globally with regard to oil or gas pricing so theres a lot of you know its a game of chicken really behind the scen
The larger corporations are not very interested in proving or disproving the value of their food because theyre already making it a 1000000000. 00 on it and theres no reason to do that research. Hello and welcome to cross talk were all things are considered im Peter Lavelle with the coronavirus now officially declared a pandemic the world faces the additional burden of an Oil Market Collapse this comes at a time when demand for crude was already low some are calling this the ultimate perfect storm how this all ends is anyones guess. Crosschecking crude carnage im joined by my guest was me in beirut hes a professor of economics and International Affairs in irvine we have pai and he is an independent economic and geopolitics. Analyst as well as a former commodities trader and in toronto we Cross Alexandre Bruno he is an analyst at gulf state analytics a gentleman crosslike rules in effect that means you can jump in anytime you want and i always appreciate pilot may go to you 1st in irvin
The americans recognize their responsibilities as global citizens and were taking urgent action to combat Climate Change youre up to date with all of our top stories but much more and everything were covering is coming up in twenty five minutes time when ill have the news out for you but thats after inside story which is next. Saudi arabia is accused of forcibly detaining lebanese leaders saad hariri calls. To unify different political groups but is becoming an open battleground for regional proxy. This is inside story. With. Hello and welcome to the program im laura. Its been a week since lebanons Prime Minister saad hariri suddenly resigned during a visit to saudi arabia his actions have set off a chain of events that continue to play out across the region the iranian backed Hezbollah Movement part of heroes governing Coalition Says saudi arabia is holding him against his will hezbollah believes by forcing her very to resign saudi arabia has declared war on lebanon the u. S. Has join