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Opinion: Is Russia Plotting To Bring Down OPEC?

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Energy is the foundation of Russia, its economy, its government, and its political system. Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ).

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The Saudi Dilemma: To Cut Or Not To Cut

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To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. It seems like just yesterday when OPEC met in 2016 and decided to cut production by 1.8 million barrels daily, including from Russia, to reverse the free fall of oil prices.

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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 In contrast to 2022 when the OECD led the expansion, non-OECD economies are set to account for nearly 80% of growth next year. mb/d in 2022 to 2.2 mb/d in 2022 and 1.8

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Opinion: Saudis Planning For A War Of Attrition In Europe With Russia’s Oil Industry

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Russia’s central bank recently warned about the growing financial risks to the Russian economy from Saudi Arabia encroaching upon its traditional export market for crude oil. Russia sends 70 percent of its oil to Europe, but Saudi Arabia has been making inroads in the European market amid the oil price downturn.

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IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

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IHS Markit is forecasting that global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 will be down 22% (more than 650,000 units) to 2.6 Most commercial vehicle factories in mainland China have returned to production. million units, in the wake of the COVID-19 pandemic. decline in global real GDP in 2020.

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The Oil War Is Only Just Getting Started

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The Oil War Is Only Just Getting Started. It’s been a month now that investors and analysts have been closely watching two main drivers for oil prices: how OPEC is doing with the supply-cut deal, and how US shale is responding to fifty-plus-dollar oil with rebounding drilling activity.

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IHS Markit: US poised to be world’s largest LNG exporter in 2022 as China becomes top LNG importer

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The world’s two largest economies—the United States and China—are poised to be the world’s top export and import markets for liquefied natural gas (LNG), respectively, in 2022, according to a new report by IHS Markit. Outside of the United States, utilization rates suffered.

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