SCO & BRICS latest news and insights
By Rhod Mackenzie
The oil market is currently anticipating a ceasefire in the Gaza Strip and a potential significant decline in production statistics in the United States. Any future developments will depend on the accuracy of the American Energy Information Administration's forecast.
On the mor...
By Rhod Mackenzie
The largest oil company on the planet seems to have revised its oil demand forecast. Based on this sudden 180-degree turn, there have been significant changes in Saudi Aramco's long-term policy. The company, to everyone's surprise, including those in Saudi Arabia, has abandoned p...
By Rhod Mackenzie
Russian oil exports to the Asia-Pacific region (APR) amounted to 193 million tons in 2023. The OPEC+ deal has had an estimated 30 trillion ruble impact on the Russian budget. Pavel Sorokin, the First Deputy Minister of Energy of the Russian Federation, announced this on January 2...
By Rhod Mackenzie
According to Alexey Gromov, the chief director for energy at the Institute of Energy and Finance, shale oil production in the United States has already peaked and will decline after 2025. This will shift the power back to the OPEC+ alliance, which is currently struggling to manag...
By Rhod Mackenzie
According to Alexey Gromov, the chief energy director of the Economic Institute, while BRICS should not take on the functions of OPEC+ in regulating the oil market, the expanded association's 80% share of global oil production will facilitate trade between its members.
Since Ja...
By Rhod Mackenzie
The market practically overlooked the thirty-sixth meeting of the relevant ministers of the OPEC+ oil club countries on November 30. Although there were production cuts announced of 2.2 million barrels per day (mbd), oil prices briefly increased before decreasing again, ultimatel...
