SCO & BRICS latest news and insights
By Rhod Mackenzie
The decision by OPEC+ nations to reduce oil production highlights the alliance's proactive stance, rather than waiting for commodity prices to drop due to sluggish demand growth, according to analysts cited by the newspaper Izvestia. Russia has agreed to cut oil production by 200...
By Rhod Mackenzie
On the 30th November, the global oil market will be fixated on this year's OPEC+ ministerial meeting. According to analysts, the two key signatories of the agreement, Russia and Saudi Arabia, will reinforce their commitment to making voluntary cuts in production and exports, even...
By Rhod Mackenzie
Saudi Arabia is keen on oil prices hovering around the range of $85-$90 per barrel. This is the price level necessary to mitigate their significant budget deficit. In light of this, the Saudi side has expressed discontent with the oil production levels of certain countries, accor...
By Salem AlKetbi
When a country of Saudi Arabia’s size and weight joins the BRICS bloc, the discussion naturally turns to the benefits of the bloc, not just the invited country. It is not an overstatement to say that the bloc will be the biggest beneficiary of this major geostrategic agreement in...
By Rhod Mackenzie
The OPEC+ countries' decision to maintain their current production volumes is expected to positively affect oil prices, according to oil market analyts predicting that prices are to remain above £90 per barrel in the coming months. At the OPEC+ monitoring committee meeting on Oct...
By Rhod Mackenzie
The OPEC Secretary General, Haitham Al Ghais, has cautioned on the possible detrimental impact of insufficient investments in the oil industry, which could result in a significant growth in oil prices and a potential energy crisis. "By underfunding the oil industry, we are endang...
