Putin, APEC, oil, what bunch of blather.

The biggest oil exporters are Saudi Arabia, Russia, UAE and Canada.

Canada is sanctioning Russia, and the Saudis are their mortal enemies.

Remember the last APEC agreement to reduce oil production to raise the barrel price?

Lasted about two weeks.

Putin has a one-trick economy - oil.

Russia's economy has been in tatters since the price of oil fell, and both show no signs of recovering to previous positions.

He's desperate to get the oil gravy train running again because he is starting to see the effects on his popularity.

His approval rating on the economy has dropped 15% from its high following the seizure of Crimea from Ukraine, he now is down to 46% approval versus 49% who disappove.

A similar decline in his marks for corruption signal that Russians are getting tired of being robbed.

If this slide continues, he'll have to find another small, poor, defenceless neighbour nation to invade and add to his Empire of Tsar Vladimir III