Monday, June 5, 2017

Rusia & Saudis Agere on Oil Deal

By Micah Halpern
I've Been Thinking:
A very special meeting took place recently in Saudi Arabia. Head of the Russia oil company Rosneft Igor, Sechin met with his counterpart Amin Nasser, the head of Saudi oil company Aramco.

This was their very first official meeting. In the past these two powerhouses of oil have spoken - because they were often at the conferences and meetings together, but this was different.

They met in order to develop a working plan to provide oil to Asian markets, especially Indonesia and India.

The idea is that these two mega oil producers work together and not compete to deliver energy to an area of the world in dire need of oil. It will be a very good investment for them and, because the demand is so high in that part of the world, it will insulate them both from damage should the price of oil drop. 

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