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The John Batchelor Show

#RUSSIA: Oil price collapsing toward $60. Michael Bernstam, Hoover.

The John Batchelor Show

John Batchelor

Arts, News, Society & Culture, Books

4.52.8K Ratings

🗓️ 5 December 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

#RUSSIA: Oil price collapsing toward $60. Michael Bernstam, Hoover.

1883 Russia warship

Transcript

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0:00.0

Once upon a time, Amazon Music met audiobooks and listeners everywhere rejoiced.

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Because now they could listen to one audiobook title a month from an enormous library of popular

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flight. Amazon Music Unlimited now includes audible. No way. Download the Amazon Music app now to start

0:28.4

listening. Terms apply. This is CBSI on the world. I'm John Batchelor.ensions rise among Russia's elite, writes the New York Times, as economic growth slows.

0:43.1

Going to be slower, perhaps.

0:44.9

I welcome Michael Bernstein of the Hoover Institution, my guide on the sanctions regime directed against the Russian Federation since its legal invasion of Ukraine.

0:56.0

Now, years later, the price of oil, we're back to energy costs.

1:00.2

Michael, a very good evening to you.

1:01.8

You tell me there's a very important meeting where the price of oil will be discussed.

1:06.7

How so?

1:07.3

Good evening to you.

1:08.4

Good evening to you.

1:09.6

Tomorrow is the big meeting, online meeting, by OPEC plus,

1:13.7

which means the Saudis and all major oil exporters, excluding, of course, the United States

1:20.0

and the United States allies. And they will decide whether the quotas restrictions on oil

1:27.0

production that were enforced for about a couple of years,

1:30.9

that whether they will be extended to 2025.

1:34.2

They were supposed to make this decision starting December 1st, postponed to 2025,

1:41.9

the lifting restrictions, and they were supposed to have this meeting consanda in

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