SCO & BRICS latest news and insights
By Rhod Mackenzie
India and China took the lion's share of Russian oil exports that dropped out of the European market. However, other buyers also contribute to the Russian budget: Brazil, Saudi Arabia, the UAE. All of them increased purchases of oil and petroleum products from Russia. Analysts st...
By Rhod Mackenzie
For the past five months, Russian oil has been traded above the $60 price limit set by Western nations. This oil is transported by numerous parties including Greek shipping companies and tankers that have lacked Western registration and insurance. As a result, Russia's monthly in...
By Rhod Mackenzie
Russia has almost entirely evaded the price ceiling imposed on its oil by the countries of the G7 last December, which was set at $60 per barrel, states the Financial Times (FT). The publication cites a senior European official, who reveals that in October, nearly all of Russia'...
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...
