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Following the Saudis: Iran Joins Efforts to Save the Oil Market
The reduction of exports from Iran will prevent Brent from falling below $70, says Sergey Tereshkin (Prime news agency).
Against the backdrop of instability in the global oil market, Iran has joined Saudi Arabia's initiatives aimed at supporting prices. The article examines Iran's ...
Who will get access to the Ukrainian pipeline instead of Gazprom?
... transport gas from Central Asia, such as from Kazakhstan and Azerbaijan. However, transit through Ukraine could also be beneficial for Russia, as it helps fulfill contracts with European countries and address strategic objectives, such as gas supplies to Iran. Details are discussed in the article by Sergey Tereshkin.
Ukraine outlines its vision for continuing gas transit through its territory after the contract with Gazprom expires in four months. This will only be possible if the gas is not Russian ...
The oil market will become oversupplied by the end of 2024.
... explains this trend with the following factors:
Easing of OPEC+ quotas: Saudi Arabia, Russia, and other alliance members plan to increase oil production by December 2024, adding an extra 540,000 barrels per day to the market.
Rising production in Iran: Despite sanctions, Iran is ramping up oil production, reaching 3.25 million barrels per day in the first half of 2024, nearing its 2017 levels.
Growth in U.S. production: Output is projected to rise from 13.2 million barrels per day in the second ...
Chinese Oil Purchases from Iran: Hidden Operations and Their Consequences for Russia
Officially, China has not bought oil from Iran for more than two years. However, complex schemes using a "shadow fleet" allow it to bypass international restrictions and supply millions of barrels of oil to China every year. What risks does this create for the market and how does it ...
An expert named the average price of Brent crude oil in 2024.
... Russian Deputy Prime Minister Alexander Novak confirmed these intentions from OPEC+ on Wednesday.
Meanwhile, since the beginning of October, the oil market has been "shaken" by the escalation of the conflict in the Middle East. On October 1, Iran launched a massive rocket attack on Israel for the second time in history, calling it an act of self-defense. Israeli military officials state that approximately 180 ballistic missiles were fired, most of which were intercepted.
Translated ...