The big news from the weekend is that Russia announced a plan to cut 500,000 b/d (barrels per day) of oil production. This accounts for about .5% of global supply and roughly 10% of Russian oil exports.
Once Russia starts shutting down their oil wells because of reduced pumping, they will be extremely difficult to get back in production.
Watch this video to find out from Peter Zeihan what this might mean for us and Russia.
Peter Zeihan is a world expert in geopolitics: the study of how place impacts financial, economic, cultural, political, and military developments.
He presents customized executive briefings to a wide array of audiences including financial professionals, Fortune 500 firms, energy investors, and a mix of industrial, power, agricultural, and consulting associations and corporations.
Mr. Zeihan has been featured in, and cited by, numerous newspapers and broadcasts including The Wall Street Journal, Forbes, AP, Bloomberg, CNN, ABC, The New York Times, Fox News, and MarketWatch.
