The price of oil affects nearly everyone – in terms of living costs and how much we pay for things like food and basic goods. That is why Saudi Arabia and Russia’s decision to keep […]
Piece by piece, China continues to build alternatives to each of the key building blocks of the West’s world order, including – crucially – a new global oil market order, as analysed in full in my […]
Extensions come despite oil rally, fresh blow to Biden Riyadh extends 1 mln bpd cuts to end-2023 Moscow extends 300,000 bpd cuts to year-end Both to review cuts monthly, may deepen or boost DUBAI, Sept […]
Aug 31 (Reuters) – Analysts have raised their 2023 oil price forecasts for the first time in four months with OPEC+ output cuts expected to keep supply tight, offsetting risks to demand from a stalling […]
The Austrian government is looking to lower the threshold for a windfall tax it imposed on oil and gas companies last year. That’s according to a new Bloomberg report, which noted that until now the threshold […]
Vision 2030 is Saudi Arabia’s grand plan to transform its economy and reduce its reliance on oil. The plan is also aimed at improving its citizens’ lives and keeping its place on the world stage. […]
New composition of BRICS will control 80% of world oil production With the addition of Saudi Arabia, the United Arab Emirates and Iran to the BRICS, the Union will be able to control the lion’s […]
The five-nation BRICS group announced expansion of members on Thursday, having invited six countries to join the bloc. South African President Cyril Ramaphosa, who is hosting the group’s summit in Johannesburg, said that Argentina, Egypt, […]
China’s top diplomat has said that a Chinese-mediated detente between Iran and Saudi Arabia was driving a “wave of reconciliation” in the Middle East and pledged to firmly support Tehran on “issues concerning core interests”. […]
Western nations warned the shipping industry at the weekend of increased risks to vessels transiting the Strait of Hormuz in the Middle East. “As of now, the timeline remains at 72 hours” from Saturday, maritime […]
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