Will the Middle East support Washington’s ‘oil sanctions’ to Russia?

Will the Middle East support Washington’s ‘oil sanctions’ to Russia? Dr. Vugar Bayramov Chair of CESD, Azerbaijan www.cesd.az The price of 1 barrel of crude oil again dropped to $ 82 in the world market. The description of the market is very simple: demand is declining whereas the supply still remains high. Unlike Russia’s expectations, Saudi Arabia not only decreased oil production, but also applied for price discounts in the oil export.... Read More

Standard & Poors Assesses CIS Economy

Standard & Poors Assesses CIS Economy The forecast of economic growth for the near future for the CIS countries exporting oil is favorable, and growth due to high oil prices to exceed four percent in 2012, said in the report of international rating agency Standard & Poors “Different procurement of natural resources and overall historic heritage determine the rating of the CIS countries “, released on March 22nd, 2012. “Increase... Read More

IMF: Iran sanctions could push oil to $140

IMF: Iran sanctions could push oil to $140 Sanctions on Iran could push oil prices up 30pc, taking the price of Brent crude to above $140 a barrel, the IMF has warned, Telegraph reported. In a note to G20 deputies, the IMF said that sanctions by OECD nations could cut 1.5m barrels per day (bpd) from supplies, causing a “large effect on prices” unless replacement supplies were found. “A halt of Iran’s exports to OECD economies... Read More