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The oil warriors are playing a deadly game

21 2 1
01.04.2020

Commentary. The Arab world and the Gulf are on the verge of collapse, Iran is in a state of crisis because of US sanctions, and in North Africa, from Egypt to Algeria and Tunisia, an unprecedented recession looms ahead.

written by Alberto Negri

April 1, 2020

At just $20 a barrel, the world of oil is experiencing a severe crunch, because of the price war between Saudi Arabia and Russia and the drastic drop in international demand, depressed by the pandemic and the economic crisis that comes with it. In just a few weeks, consumption has fallen from 100 million barrels per day to 75 million, a drop of 20%.

As the bewildered Trump, who finds himself on the edge of an unthinkable crisis, gave Putin a call Monday, there is the looming prospect of ruin for the American shale oil companies, but more importantly for entire peoples and nations who are living off “black gold” exports.

The Arab world and the Gulf are on the verge of collapse, Iran is in a state of crisis because of US sanctions, and in North Africa, from Egypt to Algeria and Tunisia, an unprecedented recession looms ahead, accompanied by never-ending conflicts and crises of legitimacy for regimes that must at the very least manage to feed their people.

It is a destabilization that affects Iraq, Syria, Iran, Lebanon,........

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