THIS IS HOW BRICS 10 / OPEC+ WORKS
The Saudis are issuing US-denominated bonds - that is, they are borrowing dollars - to finance their oil price cuts to Asian clients.
Translation: the key target in this price war is to lock US oil exports OUT of Asia.
To the benefit, of course, of Saudis and Russians.
That is: Opec+.
WTI oil prices and US shale production will suffer - badly.
THIS is how BRICS 10 in tandem with Opec+ works.
As a bonus, they open the way to future, massive petroyuan deals.
A thing of beauty: an oil price war to destroy US shale financed by US dollars.
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