SCO & BRICS latest news and insights
By Rhod Mackenzie
Just a week ago, it was reported that oil inventories at the main US oil storage facility in Cushing, Oklahoma, had fallen to the level of 22.9 million barrels, very close to the critical operating minimum of 22 million barrels.It is now said that critical minimum level has been...
By Yaroslav Lissovolik
The 2023 BRICS summit has clearly been one of the most historic and transformational BRICS summits on record – a major expansion was unleashed by the bloc, with six new members forming part of the BRICS core starting from January 1, 2024: Argentina, Saudi Arabia, Ethiopia, t...
By Rhod Mackenzie
China's post-pandemic recovery will lead to a sharp rise in oil demand in the coming months, the IEA predicts. Until now, Western analysis has been dominated by scepticism about the prospects for the Chinese economy. Oil prices responded to the agency's report with growth. This w...
By Rhod Mackenzie
The OPEC+ countries participating in the deal reduced their production by 20 thousand barrels per day in August compared to July, to 35.99 million barrels per day, the overhang of quotas amounted to 3.59 million barrels per day, according to the monthly report of the Internationa...
By Gleb Baranov
September has turned out to be the best month of this year for oil prices so far. Last Friday, West Texas WTI, and on Monday, North Sea Brent, broke through the strong resistance levels, then reaching highs not seen since November: $88.08 and $91.15, respectively.
It was difficul...
By Leonid Tsukanov
Saudi Arabia persistently moves quickly into the group of “peacekeeping powers”. For Riyadh, active diplomatic work is an element of the competition for the right to be considered athe heart of the power of the new world order, an attempt to "reset" the country's image and get r...
