Economics

The OPEC oil cartel may face pressure to lower production quotas, as its efforts to defend the market against shale producers is finally paying off. OPEC looks unlikely to reduce production quotas as its strategy of lowering oil prices to maintain market share begins paying off. Saudi Arabia is facing pressure from other …

As the terrorist attack in Paris sparks worldwide fear of similar reprisals and a bloody shootout and hostage situation in a five-star Mali hotel exacerbates those concerns, global energy security reels under the pressure of unfathomable geopolitics. In an exclusive interview with Oilprice.com, Robert Bensh—managing director and partner …

Until last summer, nothing could be done in Europe without Germany’s consent. The whole eurozone had to embark on a policy of austerity, reforms were imposed and at the height of the last Greek drama, Wolfgang Schäuble, the German finance minister, could even propose a Grexit. Being the …

Marcus Weisgerber For years, the Long Range Strike Bomber project has been shrouded in secrecy, likely at Area 51, the Air Force’s top-secret proving ground deep in the Nevada desert. Service leaders say little beyond that they plan to buy 80 and 100 aircraft for about $550 million …

The two leaders had “a very long and informative” discussion, according to the Kremlin spokesman Dmitry Peskov. Russian President Vladimir Putin and Brazilian President Dilma Rousseff discussed bilateral cooperation in nuclear energy, Kremlin spokesman Dmitry Peskov said Thursday.“A whole spectrum in bilateral ties was touched upon, including cooperation in nuclear energy,” …

According to a report from the World Petroleum Council, between now and 2030, Russia’s share of the oil and gas extracted from the Arctic shelf will be 55 percent, followed by Norway, Canada and the USA. Between now and 2030, Russia will account for 55 percent of all oil and …

What we are witnessing in Greece and beyond, in Europe, is an absurd, but not entirely unexpected spectacle. During the past couple of decades since the fall of the Berlin Wall and the dissolution of the Soviet Union, there has never been such a powerful agglomeration of political …

It is difficult to predict how the natural gas discoveries in Eastern Mediterranean will impact an already complex regional inter-relation system. Signs of mounting tension around the offshore potential resources are not new. If this tension occurs in the current early phase of exploring and extraction, it should …

The St. Petersburg International Economic Forum was attended by more than 5,000 participants, including high-ranking officials, leading businessmen, companies’ chief executives and economic pundits world over who were involved in a three day lively and sometimes heated debate on how to handle global economy and, specifically, on how to business with Russia. The annual St. Petersburg Economic …