MOSCOW (Reuters) – Behind a Saudi-Russian truce to stabilize oil markets with a record output cut, market players are seeing the two production heavyweights still trading blows in the physical market. It is here, rather than in the world of futures prices, that a long-standing battle for market share carries on, particularly in Asia, shipping…
Saad Abdulla al-Kuwari As is customary, Opec is supposed to reach its 60th year this year, and perhaps it will not celebrate this event as expected, this year. The reason is Saudi Arabia’s decision to reduce and discount the price of selling oil and increase its production after Russia refused to reduce its oil production….
MOSCOW (Reuters) – Russia never sought a sharp oil price fall or an end to cooperation with the Organization of Petroleum Exporting Countries (OPEC), and the Gulf nations are to blame for the crisis on the global oil markets, a senior Russian official said. In early March, Russia and OPEC failed to agree on how…
In the wake of the drone attacks on Saudi Arabia, the Russian president has positioned himself as a peacemaker. But continued conflict is his friend. Russian President Vladimir Putin and Iranian President Hassan Rouhani attend a joint press conference in the Black Sea resort of Sochi, Russia, on Feb. 14. SERGEI CHIRIKOV/AFP/GETTY IMAGES Think what you…