Luke Sharrett | Bloomberg | Getty Images Dan Irgin predicted oil prices could reach $121 a barrel when China fully reopens, but warned of three major uncertainties in the market. “Our base case for 2023 is $90 for Brent, but you have to look at other factors,” said S&P Global’s vice chairman, adding that there … Read more
House Minority Leader Kevin McCarthy.Photo: Francis Chung/POLITICO (A.P) Axios reported On Friday, the Republican-led House of Representatives is set to launch an investigation into environmental NGOs based on right-wing allegations that foreign powers, including China and Russia, are using nonprofit green groups to influence US policy. That unsubstantiated rumor has been pushed for years by … Read more
CNN – Saudi Foreign Minister Adel al-Jubeir said his country was working with Russia to cut oil production to stabilize the market, denying political motives behind the decision, which angered US leaders and prompted calls to reconsider relations with Riyadh. . “We’re trying to make sure we don’t have false inflation,” Al-Jubeir, one of Saudi … Read more
Riyadh crosses the Rubicon and goes to Russia [GGP] OPEC+ ministers’ decision this week to headline a 2-million-barrel-per-day (mbpd) production cut among the cartel’s member nations can only be interpreted through the lens of the broader and escalating geopolitical crisis in Europe. . OPEC+ representatives presented last week’s unexpectedly large production cut in a very … Read more
CNN – Saudi Foreign Minister Adel al-Jubeir said his country was working with Russia to cut oil production to stabilize the market, denying political motives behind the decision, which angered US leaders and prompted calls to reconsider relations with Riyadh. . “We’re trying to make sure we don’t have false inflation,” Al-Jubeir, one of Saudi … Read more
By waging a bloody invasion of Ukraine, Vladimir Putin has done more than almost anyone else to accelerate the fossil fuel era. Immediately after the February 24 invasion, EU countries began to cut their dependence on Russian coal, oil and gas imports, replacing them with gas from elsewhere and, in the short term, increasing coal-fired … Read more
At least 12 people were killed in a Russian missile attack on the southern Ukrainian city of Zaporizhia, Ukrainian President Volodymyr Zelensky announced on Sunday. Zelensky, who described the night of the shooting as “absolutely evil,” said 49 people, including six children, were in the hospital. A local official earlier said the death toll was … Read more
An Austrian soldier guards the entrance to the OPEC headquarters on the eve of the 45th Joint Ministerial Monitoring Committee meeting and the 33rd OPEC and Non-OPEC Ministerial Meeting in Vienna, Austria on October 4, 2022. Joe Clamar | AFP | Getty Images Saudi Arabia’s decision to cooperate with Russia and push for OPEC+ maximum … Read more
Washington – U.S. officials celebrated in early September when senior allies agreed to back a bold and previously untried plan to cut off the supply of money to Vladimir Putin as key allies went to war against Ukraine. The idea seems simple: the countries will only pay a cut price for Russian oil. That would … Read more
Joseph Webster is a senior fellow at the Atlantic Council’s Global Energy Center and edits the China-Russia Report, an independent journal. This article represents his personal opinion. As the Ukrainian army drives the Russian army off the battlefield, President Vladimir Putin seems desperate. He ordered a large – and politically dangerous – draft, implementing a … Read more