#Russia
The forum included four key panel discussions covering budget preparation, the integration of modern technologies in financial planning, public-private partnerships, and international tax policies
The US imposed its toughest sanctions on Russian producers and tankers yet on January 10
These developments mark a key step in the carrier’s expansion strategy and its role in bolstering the tourism sector in Ras Al Khaimah
Before the summit, Russia outlined an alternative payment system in national BRICS currencies that would include a new messaging system
The weaker outlook highlights the dilemma faced by OPEC+, which is planning to start raising output in December
Russia has invited Saudi Crown Prince Mohammed bin Salman to attend the summit, foreign minister Sergei Lavrov said last month
The only financial institution the BRICS countries have established so far is the New Development Bank, created to finance sustainable development projects
The group OPEC+ is cutting output by a total of 5.86 million bpd, or about 5.7 per cent of global demand, in a series of steps agreed since late 2022
UAE energy minister said OPEC+ has sacrificed more than others but the critical element is that it is staying together
The Dubai aircraft leasing firm had valued its claim for 22 aircraft, one engine and one piece of equipment at $737.8m
Lavrov arrived in Saudi Arabia on an official visit on Sunday
Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman said OPEC+ could pause or reverse the production hikes if it decided the market is not strong enough
The exchange would allow buyers to purchase directly from producers
OPEC+ members are cutting output by a total of 5.86 million bpd, or about 5.7% of global demand
The summit is due to kick off on June 13 with a discussion about Africa, climate change, and development
Capacity discussions can be complicated by different oil price preferences among OPEC+ members
Russian Deputy Prime Minister Alexander Novak said that Nornickel plans to build “a platinum production plant” in Bahrain
Investors will look to economic data and monetary policy for potential clues on the outlook for oil demand
While Asia’s crude demand is robust, the same can’t be said for its refinery margins, which have been squeezed by higher oil prices
This year, international oil prices have been strong, with Brent holding above $80 a barrel
In a sign of how bullish investors were becoming most buying came from the creation of new long positions
The nonbinding resolution, proposed by the US and co-sponsored by China and over 120 other nations, advocates the strengthening of privacy policies
The Gulf state plans an 85 per cent expansion in LNG output from its North Field’s current 77 million metric tons per year to 142 mtpa by 2030
India, Argentina, China, Russia, Malaysia and South Africa registered the largest increases, signalling potential growing challenges in debt repayments
Recently, four tankers carrying Russian Urals crude passed through the Bab-el-Mandab strait with another three heading south through the Red Sea
Two GCC nations, the United Arab Emirates and Saudi Arabia, are now formally part of the BRICS bloc
The Russian President is due to hold talks with UAE President Sheikh Mohammed bin Zayed Al Nahyan and Saudi Arabia’s Crown Prince Mohammed bin Salman
Saudi Arabia, Russia will continue with their respective production cuts in a bid to “balance the global oil market”
Oil prices rose above $90 a barrel for the first time in 2023 on the back of the announcements made by Saudi Arabia and Russia
The world’s third largest oil importer has increased its purchase of oil from Saudi Arabia