SCO & BRICS latest news and insights
By Rhod Mackenzie
According to the Russian Federal State Statistics Service (Rosstat), the production of passenger cars in Russia in August 2023 doubled compared to August 2022. The figure was 49.6 thousand units. At the same time, in comparison with July 2023, car production increased by 20.7%. A...
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 Rhod Mackenzie
On the morning of Thursday 28 September 2023, the price of oil continued its rise that began the day before. It was triggered by growing concerns among market participants about fuel shortages that could lead to supply constraints ahead of winter.
In addition, markets continue...
By Rhod Mackenzie
After the BRICS summit in South Africa, where little to no progress was made in discussions on the issue of the creation of a single currency for the block, the Western media were unanimous in declaring the idea a failure and the utter futility the attempts at de-dollarisation, i...
By Rhod Mackenzie
Russia's economic indicators currently leave no doubt: the restructuring of the Russian economy is now over. Russia is easily circumventing the sanctions and has begun to earn good money again from its oil exports. Not only Russian economists, but also Western analysts and the m...
By Rhod Mackenzie
There are increasing signs that the Chinese economy is stabilising. August was the first month in more than a year that the profits at the leading industrial companies rose. According to the National Bureau of Statistics (NBS) of China, profits in the last month of the summer ros...
