SCO & BRICS latest news and insights
By Rhod Mackenzie
The collective West, led by the United States, seems to have miscalculated once again. This time, Washington, London and Brussels clearly overestimated the importance of Western insurance companies, which were seen as the main means of enforcing the price cap on Russian oil intro...
By Rhod Mackenzie
Oil futures have risen sharply recently (early on 19th September they were close to $95 a barrel in London trading), but their growth is nothing compared to that of diesel futures, which in the United States, for example, hit a new record of over $140 a barrel in mid-September. I...
By Rhod Mackenzie
The price of Russian ESPO oil, which is mainly exported to China, has exceeded the price of the Brent benchmark. However, this situation is not an anomaly as ESPO light oil should be more expensive than the global benchmark Brent. This situation shows that the price of Russian oi...
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
Analysts at JPMorgan, have concluded that the correlation between the strength of the dollar and oil prices is weakening. Moreover, thishas happened mainly because literally every day more and more transactions in the oil markets take place not in dollars, but in national currenc...
By Olga Samofalova
Russia has been selling its Urals grade crude oil above the sanctions price ceiling for two months now. However, the West it appears is in no hurry to adjust their sanctions policy, although it initially threatened to do so every two months. The US and Europe are not silent for...
