SCO & BRICS latest news and insights
By Rhod Mackenzie
According to a report in Kommersant, in the first two weeks of December Russian oil companies sharply increased seaborne exports of diesel fuel, which as a result they recovered to the level of 1 million barrels per day. This was made possible by the almost complete lifting of th...
By Rhod Mackenzie
The market paid little attention to the thirty-sixth OPEC+ oil producers club ministerial meeting held last Thursday. Although production cuts amounting to 2.2 million barrels per day were announced, oil prices rose briefly before slumping once again.
The production quotas for...
By Rhod Mackenzie
The new Argentinian authorities are presently undecided about whether to join the BRICS alliance of major non-Western countries.
BRICS remains open to aid developing economies and protect their interests. Wang Wenbin, the official representative of the Chinese Foreign Ministry,...
By Rhod Mackenzie
At the scheduled meeting on 30th November this year, the nations that are part of the OPEC+ agreement resolved to decrease the amount of oil produced in 2024 by 2.2 million barrels per day. Out of this, 1.3 million were already a part of the production reduction measures extended...
By Rhod Mackenzie
The OPEC+ meeting concluded with a surprising outcome. The association of petroleun exporting countries has secured a new ally in the form of Brazil. This substantially enhances the influence of OPEC+ resolutions. This is a significant development as Brazil, along with the United...
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...
