11:01 AM @ 18/05/2022
Russia’s crude oil production plunged by almost 9 percent in April to average just 9.16 million barrels per day (bpd), more than 1 million below the country’s quota in the OPEC+ deal, Reuters reported on Tuesday, quoting an internal report of OPEC+ secondary sources it had seen.SEE MORE10:56 AM @ 18/05/2022
Oman occupies an extraordinarily significant geographical position in the world and thus is of equally significant political importance to the two global power blocs: the U.S. and its allies on the one hand, and the China-Russia axis and its allies on the other. The Sultanate has long coastlines along the Gulf of Oman and along the Arabian Sea, away from the extremely politically sensitive Strait of Hormuz, through which passes at least one third of the world’s crude oil supplies. These coastlines offer largely unfettered access to the markets of South Asia, West Asia, and East Africa, as well as to those of its neighbors in the Middle East.SEE MORE05:20 PM @ 17/05/2022
Since the Russian invasion of its neighboring country on February 24, the US government has enacted increasingly harsh sanctions against shipments of Russian commodities.SEE MORE05:15 PM @ 17/05/2022
According to draft proposals obtained by the Financial Times, the European Union is set to ease environmental regulations to replace Russian fossil fuels with renewable energy and imported hydrogen power.SEE MORE05:10 PM @ 17/05/2022
Ever since Russia’s unprovoked invasion of Ukraine on February 24, supplies of high-grade iron ore materials, such as iron ore concentrate and pellet have tightened, with strong demand from European mills lending support to higher prices for cargoes heading in that direction.SEE MORE
