SCO & BRICS latest news and insights
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
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
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...
