SCO & BRICS latest news and insights
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...
By Rhod Mackenzie
Since the beginning of 2023, the price of Russian oil in rubles has increased by 1.5 times and has exceeded 8 thousand rubles per barrel. This is brought about not only by the high price of oil itself and the low exchange rate of the ruble, but also by the fact that Russian oil e...
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...
