SCO & BRICS latest news and insights
By Rhod Mackenzie
The day following the most significant plunge in oil prices within the last year or so, its precipitous fall persisted. Within a couple of days, Brent has dropped to its lowest point since the summer and has lost over 14% of its value from its apex one week ago. The market now a...
By Rhod Mackenzie
The Bank of China (BOC), one of China's four largest state-owned commercial banks, has inaugurated its first branch in Riyadh, the capital of Saudi Arabia.
This move aims to extend the use of the yuan in trade and finance. Analysts have observed that since the recent BRICS Summ...
By Rhod Mackenzie
The OPEC+ countries' decision to maintain their current production volumes is expected to positively affect oil prices, according to oil market analyts predicting that prices are to remain above £90 per barrel in the coming months. At the OPEC+ monitoring committee meeting on Oct...
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
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
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...
