Tag: Russia

March 13, 2020

The current crisis facing the oil industry happened seemingly overnight, the result of a two-pronged situation: the economic slowdown caused by the global COVID-19 pandemic and the predatory attempt by Saudi Arabia and Russia to eliminate competition from the American […]

March 11, 2020

OPEC kingpin Saudi Arabia unveiled plans Wednesday to dramatically ramp up oil production, raising the stakes of an all-out price war with non-OPEC leader Russia. State-owned oil behemoth Saudi Aramco said Wednesday that it had been asked by the Saudi […]

March 6, 2020

OPEC and non-OPEC allies have so far failed to agree on how much production to cut amid the coronavirus outbreak, with Russia reportedly refusing to give the green light to the deepest supply cuts since the global financial crisis. Oil […]

January 8, 2020

The assassination of General Qasem Soleimani is just the latest escalation in hostilities between Iran and the United States since President Trump scuttled the Iran Nuclear Deal. When America pulled out of the Deal, which was hammered out in Switzerland […]

February 19, 2019

A rolling oil pact between Russia and Saudi Arabia which seeks to support prices by reducing output looks to be on shaky ground with only the Arab nation appearing to fulfil its promises. Late last year, OPEC producing countries, and […]

February 5, 2019

During just six months crude oil prices ripped higher by about 20 percent, plunged more than 40 percent and snapped back 25 percent, an intense volatility that analysts warn could be the new normal in the oil market. December was […]

January 8, 2019

With 28 countries and a combined population of around 512 million people, the European Union is something of a prized market — and political battleground — for the world’s largest energy exporters, particularly when it comes to natural gas. Russia […]

December 14, 2018

In a couple of recent columns, I have highlighted President Trump’s apparent blind spot when it comes to oil prices. His position would have been understandable a dozen years ago, when net imports of oil into the U.S. had reached […]

December 5, 2018

Ministers from the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC partners like Russia descend on Vienna this week with the idea of taming an oil market whipsawed by extreme volatility. But any notion that the cartel can successfully “manage” […]

October 30, 2018

Who most benefits from US sanctions on Iran? Is it Saudi Arabia? Israel? Perhaps the United Arab Emirates? Try Russia. By weakening Iran, the sanctions cede Russia the power to balance crude oil markets. That’s because OPEC needs big producers […]

October 18, 2018

The first of the two reactors for the vessel was shipped on 24 September and the second on 16 October, and Zio-Podolsk said it has thus completed this stage in its “significant contribution to the development and updating of the […]

October 4, 2018

Oil prices on Thursday fell from four-year highs reached the previous session, pressured by rising U.S. inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output. Brent crude oil futures were […]

July 16, 2018

With OPEC’s supply cut agreement effectively dead, and Saudi Arabia and Russia racing to hike production, the oil market has clarity on a critical component of global supply. Under pressure from President Donald Trump, Saudi Arabia is preparing to max […]

July 12, 2018

OPEC’s rejuvenated bid to tame crude prices could soon exhaust the world’s spare capacity cushion, according to the latest monthly report from the International Energy Agency (IEA). The IEA’s closely-watched report comes shortly after crude had its biggest one-day drop […]

July 12, 2018

At this week’s NATO meeting in Brussels, President Trump criticized Germany’s reliance on Russian natural gas: “Germany is totally controlled by Russia. They will be getting between 60 and 70 percent of their energy from Russia and a new pipeline.” […]

May 29, 2018

Record crude oil volumes exported from the United States will be heading to Asia in the next couple of months to take another piece of the market away from Russia and producers in the Organization of the Petroleum Exporting Countries […]

April 27, 2018

Opec’s goal of defending high oil prices may suit some members in the short run, but its long-term impacts could be damaging Since its historic agreement in November 2016, Opec’s efforts to manage the oil market have shown signs of […]

April 11, 2018

Oil prices hit new 2018 highs as rebels in Yemen launched new missile strikes on top crude exporter Saudi Arabia and as the market continued to worry about escalating conflict between the United States and Russia in Syria. Brent crude […]

July 1, 2016

Saudi Arabia will supply more Arab Extra Light crude to at least two buyers in Asia in July, four sources familiar with the matter said on Thursday, as the top oil exporter ramps up shipments in a bid to claim […]

February 4, 2016

Saudi Arabia, Russia and other countries that heavily rely on oil revenues are getting more desperate as crude prices languish, said Daniel Yergin, a leading expert international politics, energy and economics. “This day of reckoning is here,” he warned on […]