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Tag Archives: Russia

Saudi oil bomb for Iran

DHAKA — Saudi Arabia’s refusal to cut oil production despite the price of crude bottoming out in the vicinity of $60 per barrel around mid-December serves to undercut Iran in a manner that the UN sanctions never could. With oil prices plummeting from a high of $115 in August, 2013 to its present price, Iran’s ability to finance overseas military ...

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Russia entering ‘full-fledged economic crisis’, says ex-minister Kudrin

MOSCOW – Russia’s government has pushed the country into an economic crisis by not tackling its financial problems fast enough, former finance minister Alexei Kudrin said on Monday, warning the full effects would be felt next year. Kudrin — a darling of investors who is credited with building Russia’s $170 billion worth of sovereign wealth funds — added that sanctions ...

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EDITORIAL: The sanctions (with help) are working

This is the price Russia is paying for Vladimir Putin’s imperial dreams: An economy in shambles. It has been a devastating one-two punch: Sanctions from the West aimed at punishing the Russian president and his cronies for Moscow’s aggression in Ukraine, coupled with the plummeting price of oil. The Russian economy has been simplistically described as a petroleum conglomerate subsidizing ...

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Will policies and falling prices derail fracking?

Two recent events have cast some doubt about the seemingly bright future of fracking in various parts of the country. The first has to do with a few voter-driven efforts to eliminate fracking. The second is related to the recent plunge in energy prices. While voters and many municipal governments have decided to restrict fracking, few have banned it altogether. ...

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Stocks rebound, oil cuts losses as Feds meets

NEW YORK, Dec 16 – Oil prices pared losses and global equity markets rebounded on Tuesday as investors snapped up beaten-down energy stocks and wagered the U.S. central bank will express caution in the midst of raging market turmoil sparked by crude’s collapse. Russia’s huge emergency rate hike overnight failed to stabilize the ruble’s decline, which jolted markets, and German ...

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Oil’s fall bad for Russia, could be a concern to Fed

The dramatic drop in oil prices has prompted some worried musings among economists. Maybe it’s some kind of pessimistic reflex in the dismal science of economics. Or maybe it’s the uneasy feeling that anything really bad for both Texas and Russia is potential trouble. Maybe it’s bad dreams about the last recession. In any event, despite the huge windfall being ...

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Oil prices fall as China’s factories slow

woman packing product pvc cards factory in China

SINGAPORE (Reuters) – Oil prices fell on Tuesday, with Brent mired near a 5-1/2 year low close to $60 per barrel, as Chinese factory activity slowed and concerns rose over the health of emerging market economies and their currencies. Oil prices have almost halved since June amid rising output and cooling demand, but producer club OPEC has so far resisted ...

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Iraq exports boost to add pressure on 2015 oil market

iraq

LONDON, Dec 4 – Iraq’s plan for higher oil exports in 2015, emerging in detail just days after OPEC shunned any output cut, will add to global over supply and is likely to entrench the reluctance of other OPEC members to curb their own supplies. Iraq’s government on Tuesday reached a temporary agreement with Kurdish regional authorities, preparing the ground ...

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Brent oil rises to $71 in volatile post-OPEC trade

LONDON, Dec 3 – Brent oil rose to $71 a barrel on Wednesday in choppy trading as the market searched for a price floor after a near 40 percent fall since June, and as U.S. crude stocks declined last week. Trade in oil has been volatile since the Organization of the Petroleum Exporting Countries (OPEC) said last week it would ...

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