Google Cloud Speech-to-Text API (Chirp) + Gemini 2.5 Flash Non-Thinking. Treat it as a searchable index of what was broadcast, not a quotation record.
00:00:00In Magnit, we maximize price reductions. Sweets
00:00:04"Daёшь Beloy" 49.99
00:00:06in stores with delivery. More discounts with the
00:00:10Magnit app. Music is my
00:00:12life. I set
00:00:16the tempo,
00:00:18tonality,
00:00:20accents, and choose those with whom music
00:00:24comes alive. Because my life is
00:00:28music. And the instrument with which it sounds as
00:00:32desired is premium Sber, its privileges,
00:00:35and a team that embodies any ideas. Premium Sber,
00:00:38when you choose yourself.
00:00:41Millions of people across the country face different types
00:00:45of pain, no matter what caused the pain, if there is
00:00:48Pentalgin. Thanks to its combined composition, Pentalgin
00:00:51acts against pain, wherever it may be. Pentalgin,
00:00:55let's do without pain. OSAGO prices have risen again, buy
00:00:59OSAGO profitably. On the website or in the application Sravni. Sravni: service number
00:01:03one for buying OSAGO in Russia.
00:01:05Sravni!
00:01:10Heroes! Common sport! At Vkusnaya
00:01:14Tochka Kids Combo with a limited collection of toys! Order in
00:01:17Cooper with 30% cashback. Thanks bonuses with a subscription from
00:01:21Sberp.
00:01:30For half a century, the global oil market was orchestrated by OPEC. One decision
00:01:34on quotas and quotes sharply changed trajectory. Today the cartel
00:01:38gathers, announces an increase in production, and the market practically does
00:01:41not react. Who took over control will be shown by
00:01:44the graphs.
00:01:47Let's start with the main thing. Here is the volume of production of OPEC Plus countries. The alliance
00:01:50has been active since the end of 2016.
00:01:53At its peak, the countries that were part of it produced almost 40
00:01:57million barrels per day. Now look to the right. In
00:02:00February, the members of the organization pumped out every second barrel in
00:02:04the world, meaning their share was 48%, in
00:02:07July it was 40. They lost eight points in
00:02:10six months, and the smaller the share, the weaker the influence on
00:02:13the market. In May, the United Arab Emirates left OPEC,
00:02:17having been in the organization for almost 60 years.
00:02:20The reason is that very quota. Abu Dhabi invested more than
00:02:24140 billion dollars in production, bringing capacity to almost 5
00:02:28million barrels per day. Three or four were allowed.
00:02:32Iraq, the second largest producer in the association, one of the five
00:02:35founders, also considered leaving in the summer. As a result,
00:02:38the prime minister stated: we will not leave OPEC, but we will demand
00:02:41a fair quota. The logic is exactly the same. Arguing about
00:02:45quotas has become almost meaningless. The Strait of Hormuz
00:02:48is closed, the production of Iraq itself collapsed from
00:02:504.2 million barrels in February to 1.5
00:02:54million in May, sea exports 8% of
00:02:57last year's level. Smart cartel. Six times announced
00:03:01an increase in production, all these decisions had little effect on
00:03:04prices. Oil that cannot be delivered to consumers does not affect
00:03:08pricing. The Hormuz crisis only exacerbated now
00:03:11OPEC's problems, simply because OPEC started
00:03:15producing even less, simply because both Saudi Arabia and
00:03:18Iraq, uh, the United Arab Emirates, could not
00:03:21supply the entire volume of extracted oil to the market. And the opening of
00:03:25Hormuz will only exacerbate the problem simply because
00:03:28the authorities of Iraq and Saudi Arabia will most likely
00:03:32declare that for many months, already more than
00:03:34half a year, we have been producing less oil than we could,
00:03:38than the quotas allow us, and we want to compensate these
00:03:42volumes, respectively, they will try to flood the world
00:03:45market with super-volumes of oil that they will
00:03:48produce, well, accordingly, in order to compensate for these
00:03:52downtimes.
00:03:54The conductor's place was taken by the one who buys oil. Since the beginning of
00:03:58the conflict, China bought four
00:04:00barrels less than the year before. This is not economy, this is
00:04:04management. Beijing has about 1.5 billion barrels in storage.
00:04:07This is the largest reserve in the world. The price is too high,
00:04:11China takes from its reserves, the largest buyer leaves the market.
00:04:15The price dropped too low. The Middle Kingdom returns
00:04:18and buys in advance. The reduction of imports by China after
00:04:22the start of the US war with Iran in the Middle East prevented
00:04:25quotes from going into space. If China
00:04:28continued to buy at the same volumes, oil would cost a third
00:04:32more. China looked at its behavior model for
00:04:35forming reserves from the International Energy
00:04:38Agency, which was created in the seventies by the US and
00:04:41European countries. It was created precisely to solve
00:04:45the problems of oil supplies from the Middle East, and
00:04:49the IEA countries had to create their strategic reserves for 90 days
00:04:52of imports. And accordingly, what was done,
00:04:56and China simply scaled up
00:04:58the IEA experience and created a reserve much larger, covering
00:05:02imports for a much longer
00:05:04period. Washington also plays its part,
00:05:08the White House announced a deal with
00:05:10Venezuela.
00:05:2135% in the American operating company goes to the
00:05:25Pentagon, the American government secures the
00:05:28right to buy back 20% of production at
00:05:31cost. In Caracas, after this, they are seriously discussing
00:05:35leaving OPEC. Venezuela is one of the cartel's founders. In
00:05:39one year, the organization risks losing its second major member.
00:05:43Venezuela today possesses 17% of the world's
00:05:47oil reserves, however, production volumes are only slightly more than
00:05:501% of global production, this is a problem of the last 25
00:05:54years, but a possibility for tomorrow.
00:05:56дня.
00:05:58So, do we bury OPEC or not? Not yet. The organization
00:06:02still has leverage, these are underground reserves and spare
00:06:06production capacity. Hormuz will open and its barrels will return to
00:06:09the market, but the cartel's role is changing from a personal
00:06:12conductor who set the price, OPEC is becoming one of the
00:06:16participants in the oil orchestra, and together they write the score of oil
00:06:20quotes, and it doesn't always turn out in unison.
00:10:00The Armed Forces of Ukraine are trapped in the Volchansk cauldron in Kharkov.