The strong recovery in the price of Oil has abruptly come to an end, and he is within a few days to around ten percent. In addition to the murky economic Outlook from Fed chief Jay Powell to the Fed meeting from 10. June pressed fears of a second wave of Infection with the Corona Virus, the price of Oil down significantly, especially after the Infected number in Beijing was noticeably increased. The new output constraints, the prospects for the Chinese and the world economy have deteriorated markedly.
The development of the Oil market, the President of Belarus, Alexander Lukashenko followed, exactly. He is currently in a power struggle with his Russian colleague Vladimir Putin.
Lukashenko and Putin for years had been close allies, since Lukashenko has been criticized by the West repeatedly for his autocratic style of government. Now Lukashenko, since 1994, in the office and at the election in August 2020 a sixth term in office, seeking to free however, some of the Russian dependence and turns to the West, are trying to do. “The old relationship falls apart gradually, and it is the suspicion that Lukashenko is encouraged from the outside,” said Gleb Pavlovsky, a former Kremlin Advisor, to the news Agency Bloomberg. Lukashenko has become a “persistent Irritation” to Russia, but “Belarus is very important, and Moscow can’t afford to lose it,” the expert told Bloomberg. Belarus borders on Poland, Lithuania and Latvia-all Nato countries. To is db the price of Oil WTI 36,68 USD +0,67 (+1,86%) OTC
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the reason for the rift Putin’s goal of to bind the two countries closer together. Putin aims for a Federal state with Belarus, with common institutions, a Central Bank for a common currency is responsible. Of which Lukashenko wants to know however nothing. He has concern for a possible Alliance with the much larger Partner, only the second violin.
Oil-buying in the USA
beneficiaries of the upsets could be in the USA. As Bloomberg writes, had Putin is trying to the beginning of the year, over supply of Oil pressure on Lukashenko to build. Around three-quarters of Russia has cut its supplies. Then U.S. Secretary of state Michael Pompeo was traveled in February to Belarus. The United States could think of the needs of Belarus to 100 percent, and the price was also reasonable, had Pompeo promised.
Meanwhile, the first shipment from the USA arrived in Belarus, about 586.000 barrels of crude oil to be processed. It is a first for the country. To other countries, Azerbaijan and Saudi Arabia has clothed Lukashenko, in order to reduce the dependence on Russia. “Lukashenko considers this oil war (with Russia) as a punishment and wanted to no longer be pushed around,” said Artyom Shraibman, founder of the white Russian capital of Minsk-based consulting company Sense Analytics. “Belarus and Russia are in the most difficult crisis of the past 25 years,” the expert told Bloomberg.
Putin had to drag in the oil war with Saudi Arabia, a u-turn
The power struggle with Lukashenko is Putin’s second risky Oil Zock, after the first had gone, with Saudi Arabia strongly wrong. After Russia and Saudi Arabia were in the March in spite of the slump in Demand due to the pandemic a complete surprise not to extend the reduction in subsidies to some, the collapse of the prices. The you can put in the contributions, “Putin’s dangerous Zock: What’s behind the slump in the Oil price”, and “After the Oil scandal, the sheikhs read take now Putin is in the clamp”.
Putin, however, had to give in quickly and agreed on trump’s Insistence in April of a re-installation of the subsidy cuts agreed to in common with Saudi Arabia. On 6. June, you have until the end of July extended, which has supported the price of Oil. More than ever, investors observe the further development on the Oil market, and whether the crisis between Russia and Belarus intensified in the coming months.
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