SCO & BRICS latest news and insights
By Rhod Mackenzie
The OPEC Secretary General, Haitham Al Ghais, has cautioned on the possible detrimental impact of insufficient investments in the oil industry, which could result in a significant growth in oil prices and a potential energy crisis. "By underfunding the oil industry, we are endang...
By Rhod Mackenzie
Just a week ago, it was reported that oil inventories at the main US oil storage facility in Cushing, Oklahoma, had fallen to the level of 22.9 million barrels, very close to the critical operating minimum of 22 million barrels.It is now said that critical minimum level has been...
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
This year Russia will continue to redirect oil supplies to the Asia-Pacific region (APR), including China and India, said the Deputy Prime Minister Alexander Novak at the plenary session of the TNF Industrial and Energy Forum on 20 September.
According to him, last year Russia p...
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...
