Stand-off between Opec and Russia?

[Ken Hanly]

Oh yes, and Mark somehow forgot to mention oil prices have been driven down
dramatically :) Quite a bit below 25 dollars a barrel. The decline in
reserves better be reflected in an increase in price soon, or the Saudi
royals will have to sell off some royal yachts to keep afloat.

Cheers, Ken Hanly

11/23/2001 - Updated 02:47 PM ET

Oil price slumps as Russia delays output decision

LONDON (Reuters) - Seesawing oil prices fell sharply again Friday after
Russia delayed a decision on whether to join the OPEC cartel in a global oil
supply cut next year.

Having jumped more than a dollar a barrel a day earlier on expectations of a
major output cut by Russia, London futures for Brent Blend crude oil dropped
65 cents, or 3%, to close at $19.25 per barrel on Friday.

Cheers, Ken Hanly

----- Original Message -----
From: "Mark Jones" <mark.jones at tiscali.co.uk>
To: <lbo-talk at lists.panix.com>
Sent: Saturday, November 24, 2001 4:45 AM
Subject: Stand-off between Opec and Russia?


> Events of world-historical importance are unfolding in the Middle East and
> Central and South Asia, but this is only the epicentre of a crisis shaping
> up with dramatic speed and power. At stake is the global architecture of
> world capitalism in this century and the fate of US hegemony.
> The Afghan war, which many rightly identify as a battle fought in a larger
> war for resources and power in Central Asia, has triggered a cascade of
> change elsewhere including the restructuring of the terms of US hegemony
> and its relations with Russia in particular. As this global reordering
> evolves, huge changes will be triggered in US relations with Europe, Japan
> and China. If the emerging US-Russian strategy succeeds, then the
> balkanisation of the Middle East can only accelerate. The West will
>