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Meme Thread: OIL PRICE WAR that has led stock markets around the world to fall.
1. OPEC led by Saudi Arabia thinks the Global oil market is oversupplied.
1. OPEC led by Saudi Arabia thinks the Global oil market is oversupplied.
2. Saudi Arabia tells Russia (not a member of OPEC) to cut production by 1.5 million.
3. Putin responds to Saudi Arabia
4. Russia rejects the proposal and increases production. In short they did this
5. Saudi Arabia inturn responds by cutting crude prices to customers and plans to increase its own production by over 2 million barrels.
6. Meanwhile US oil companies watching things unfold
7. Oil Marketing Companies in India and China after seeing the oil price drop
8. Indian stock Markets response to this new reason for the fall.
9. Indian public to government now
11. In short
