Washington’s recent active attempts to play the Riyadh card in its confrontation with Russia and in maintaining any semblance of US influence in the Middle East have turned Saudi Arabia into a “political Mecca” to which many states have suddenly flocked. The natural front-runner in this race of political pilgrims is the US itself, which…
Some three weeks after the reported meeting of the CIA chief William Burns with the Crown Prince of Saudi Arabia Prince Mohammed bin Sultan, the OPEC+ ministerial held a videoconference on Thursday. The OPEC+ meet drew satisfaction that “continuing oil market fundamentals and the consensus on the outlook pointed to a balanced market.” The press…
The global energy crisis and the US anti-Russian sanctions due to the special operation in Ukraine have led to the fact that Europe is now spending about 10% of GDP on energy resources, according to analysts of Black Rock, one of the world’s largest investment companies. The last time the Old World spent this much…
In March of this year Saudi Arabia launched what was clearly a catastrophic move to regain its role as the world oil superpower. What initially was a move aimed at taking markets away from Russia, after the latter declined to make further production cuts, has quickly turned into a clumsy even catastrophic repeat of the…
A black swan is slang for an unexpected event with large consequences. 2020 has brought us two so far: the COVID-19 pandemic and the collapse of oil prices. Each will have potent consequences for the Imperium Americanum. And there is a nest of black cygnets maturing. COVID-19 A new infectious disease was noticed in China…
A perfect deal is where all protagonists get something out of it. All oil-producing countries stand to gain if the oil price rebounds. In bare bones, the OPEC+ group led by Saudi Arabia and Russia finalized, in a nail-biting photo finish on April 12, an agreement to cut oil production by a combined 9.7 million barrels per…
