OPEC+ ignored Biden’s demand for oil output boost, Nov. 4, 2021 In the geopolitical folklore, Afghanistan is supposed to have caused the end of the Soviet Union but in reality, the war wouldn’t have been a “bleeding wound” by 1989 had it not been for the precipitous fall in the Soviet income from oil exports. …
Why the OPEC+ deal is a many-splendoured thing
Russian President Vladimir Putin delivered a speech proposing a summit in September of the “founder countries of the United Nations, the five states that hold special responsibility to save civilisation,” Jerusalem, Israel, January 23, 2020 A perfect deal is where all protagonists get something out of it. All oil-producing countries stand to gain if oil …
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Oil price war is more about market share
Red Cross medics waiting to check the temperature of participants at the OPEC+ meeting in Vienna, March 6, 2020 for coronavirus. None was found infected, but the meeting ended in disharmony. The common refrain is that Saudi Arabia has launched an oil price war against Russia by boosting production and selling at discounted price, …
OPEC and Russia reset oil market ignoring Trump’s urgings
(Energy minister of Russia Alexander Novak and Saudi counterpart Khalid al-Falih) Belying most predictions by analysts and energy experts, OPEC and Russia and its allies have agreed on Friday on a larger than expected cut in oil production to the tune of 1.2 million barrels a day. The deal aims to mop up the oil …
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Saudi Arabia gets a friend in need – Russia
It goes without saying that oil has been central to military power and economic life in modern history. Control of oil has been a key source of power and policy in the Cold War. There was even a top-secret US government plan to ravage the Middle East oil industry in the event of the former …
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US-Saudi Relations Enter Unchartered Waters
US-Saudi Relations Enter Unchartered Waters By M. K. Bhadrakumar The disappearance of the Saudi dissident Jamal Khashoggi in mysterious circumstances while on a visit to his country’s consulate in Istanbul last Tuesday still remains unexplained. The plot is thickening by the day. The latest reports suggest that he may not even be alive. The Istanbul …
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