The Kingdom had already signed a memorandum of understanding on 16 September 2022 granting it the status of SCO dialogue partner, as was exclusively reported by OilPrice.com at the time. However, Saudi Arabia did nothing to encourage the release of the news at that point, unlike now – just after it resumed relations with Iran, in a deal brokered by China.
Daily Archives: 5. April 2023
Will OPEC’s Surprise Production Cuts Push Oil Prices To $100?
It was Saudi Arabia, the UAE, and Kuwait who led the surprise cuts, alongside OPEC’s second-largest producer Iraq and another half a dozen OPEC+ producers, including Russia.
While Russia’s extension of its own 500,000-bpd cut until the end of the year was no surprise – analysts had largely baked in a drop in Russian production in view of the embargoes and price caps on its oil – the move from OPEC’s heavyweights came as a surprise. And sent a clear message to the market—we are in charge.
OPEC: Saudis aren’t afraid of US anymore
Independent but time-coordinated statements were made by Saudi Arabia, the UAE, Kuwait, Iraq, Algeria, Oman and Kazakhstan, while Russia confirmed its intention to extend until the end of the year its own production reduction by 500,000 barrels per day, which began in March.
Significantly, these statements have been made precisely by those largest oil producers in OPEC, who have a record of fully utilising their existing quota. Put differently, the reduction in production is going to be real, not just on paper.
Chinesischer Ministerpräsident führt Telefongespräch mit russischem Amtskollegen
(04.04.2023 20:50:19)
Dabei sagte Li, China sei bereit, eng mit Russland zusammenzuarbeiten, und die Regierungsbehörden beider Länder sollten den wichtigen Konsens, den die beiden Staatschefs erreicht haben, umsetzen und kontinuierliche neue Entwicklungen in der praktischen Zusammenarbeit zwischen China und Russland fördern.
China ist bereit, mit Europa Austausch und Kommunikation über eine politische Lösung der Ukraine Krise zu pflegen
(04.04.2023 17:22:58)
Mao Ning sagte, China sei keine Partei in der Ukraine-Krise, sondern ein entschiedener Befürworter und aktiver Förderer einer friedlichen Lösung der Krise. China hoffe, dass die europäische Seite strategische Autonomie und politische Weisheit zeige und entschlossene Schritte unternehme, um langfristigen Frieden und Sicherheit in Europa zu erreichen.
Macron and von der Leyen visit increasingly distant China
Macron, who is eager to represent the European continent, will be accompanied in one of the meetings with Xi by European Commission President Ursula von der Leyen. A speech she made on Thursday, March 30, reflected the current hardening of the European Union (EU) vis-à-vis Beijing: „How China interacts with Putin‘s war will be a determining factor for EU-China relations,“ she said.