Category: Highlights

In December 2016, OPEC, Russia, and several other non-OPEC producers sealed a historic deal. For the first time in 15 years, there would be oil production cuts. At the time, RBC’s Helima Croft said Saudi’s oil minister Khalid al-Falih had “something of Mario Draghi’s ‘whatever it takes’ moment.” Seven years on, OPEC and Russia are still controlling the market. But now, Saudi Arabia is saying there is nothing it can do about the oil market and prices. It has done all it could, according to its foreign minister, Prince Faisal…

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Ambassadors from the 27 European Union member states will on Sunday examine a compromise that could enable them to break the deadlock on a sixth round of economic sanctions against Russia, including a landmark halt to Russian oil imports, EU sources told AFP. The latest round of proposed sanctions has been blocked by landlocked Hungary, which has no access to seafaring oil cargo ships and is dependent for 65 percent of its oil needs on Russian crude supplied via the Druzhba pipeline. Budapest has rejected as inadequate a proposal to…

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Brent Crude prices could jump to well above $150 per barrel if Russia’s oil exports fall off a cliff in the coming months, according to Bank of America. “With our $120/bbl Brent target now in sight, we believe that a sharp contraction in Russian oil exports could …. push Brent well past $150/bbl,” analysts at Bank of America (BofA) Global Research wrote in a research note on Friday carried by Reuters. In a base-case scenario, Bank of America expects Brent Crude prices to average $104.48 a barrel this year and $100…

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The energy ministers of the world’s leading industrial nations on Friday urged OPEC to increase oil supply amid high oil prices that are hitting consumers and threatening an economic slowdown. “We call on oil and gas producing countries to act in a responsible manner and to respond to tightening international markets, noting that Opec has a key role to play,” the G7 energy ministers said in a communique, carried by the Financial Times, at the end of a two-day summit in Berlin. The energy ministers of Canada, France, Germany, Italy, Japan,…

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LONGi is the world’s leading solar technology company. It officially entered the Pakistan market In 2019. In three years LONGi went from 1 MW to 500 MW relied on its high-quality, reliable solar modules, and Firmly towards the goal of 1GW with all partners.As the most valuable solar PV solution company in the world, LONGi has never forgotten its social mission, never forgotten the truth that it’s our partners and customers in Pakistan always trust and support LONGi strongly. During Ramadan, LONGi celebrated the festive and share the food with…

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