SCO & BRICS latest news and insights
By Rhod Mackenzie
Speculators are responsible for the drop in oil prices by manipulating figures and falsely claiming that oil demand is low. This statement was made by the Saudi Arabian Minister of Energy. A few weeks ago, oil was almost at $100 per barrel, but now it has fallen to $80. What caus...
By Rhod Mackenzie
During January-October 2023, China experienced a 14.5% surge in oil imports and an 8.8% increase in natural gas imports, as per the General Administration of Customs of the People's Republic of China's Tuesday report.
During the reported period, China imported 473.21 million ton...
By Rhod Mackenzie
Russia will maintain a voluntary reduction in the supply of oil and petroleum products to global markets by 300 thousand barrels per day until the year-end. Alexander Novak, the Russian Deputy Prime Minister, informed reporters on November 5th.
"A market analysis will be conduct...
By Rhod Mackenzie
The Czech Republic is currently making arrangements to shift its oil refineries to the use of non-Russian oil sources. This is despite Russian oil via pipeline supplies being exempt from sanctions on it, as well as for Austria,Hungary and Slovakia, Prague appears to thing that i...
By Rhod Mackenzie
India is under pressure due to its unwavering stance on importing oil from Russia. This was confirmed by the Foreign Minister, Subrahmanyam Jaishankar, during a conference in Bhopal.
It should be noted that India has taken a resolute position to defend their right to purchase o...
By Rhod Mackenzie
The implementation a price ceiling on Russian oil has been seriously unsuccessful, a fact that has already been acknowledged in Europe. Nevertheless, Washington still refuses to accept this outcome and now, nearly a year later, has levied sanctions on two shipping companies. Add...
