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In First Law Of Its Kind, Kuwait To “DNA Tag” Everyone Like Cattle, Including All Tourists
By Melissa Dykes I know, I know, this really hinders your Kuwait travel plans. In the first law of its kind anywhere in the world, Kuwait has decided it will not only “DNA tag” everyone presently in the country as part of a new “integrated security database,” but all tourists will be required to submit a … Continue reading
Russia Benefits From Crude Production Freeze Talks Despite Failure To Reach Deal
Rising oil prices ahead of the production freeze talks in Doha added $3.7 billion to the value of Russian output, according to Bloomberg based on data from the International Energy Agency. Saudi Arabia got a $3.3 billion boost. Even the countries not involved in the talks have benefited from the freeze fuss. The US got … Continue reading
Doha Meeting Reveals OPEC’s Inability To Control Global Oil Prices
By Ante Batovic The recent Doha meeting of major oil producers failed to agree oil output freeze deal and confirmed the existence of deep disagreements within Opec. The oil prices agony continues as major oil producers failed to reach an agreement on production freeze at the long-expected meeting in Doha on April 17. The expectations … Continue reading
Saudis Derail Oil Freeze Deal Over Regional Rivalry With Iran
The failure of the world’s leading oil producers to reach an agreement on capping production has been aggravated by the threat of more sparring between Saudi Arabia and Iran over market share. The talks failed after Saudi Arabia, Qatar and the United Arab Emirates said they wouldn’t agree to a deal unless Iran joined in. … Continue reading
Iran’s $10 Billion Mega Canal Could Be Game Changer In Global Trade Routes
The prospects for the creation of a navigable canal between the Caspian Sea and the Persian Gulf are currently being reviewed by Iran and Russia, Mehdi Sanaei, Iran’s ambassador to Russia, said last Friday at a meeting with students at the St. Petersburg State University. Intensified discussions on the possibility of a ‘trans-Iranian’ canal began in 2012, when then-Energy Minister Majid Namjoo told Fars news agency … Continue reading
Saudi Arabia Looks To African Allies During Gulf Crises
By Salem Solomon Saudi Arabia appears intent on reaching across the Red Sea to build alliances in the Horn of Africa, where piracy, drug and weapons smuggling, and terrorism threaten commerce in the world’s busiest shipping lanes. This was evident during the Saudis’ intervention in Yemen. Over the past year, they built a coalition of African … Continue reading
Speculators Cut Bearish Bets On Oil
Crude prices have rebounded 50 percent since February. At the same time, since the beginning of February the US Commodity Futures Trading Commission (CFTC) has seen the biggest liquidation of short positions on record. Short positions on US benchmark WTI crude, or in other words, bets that prices will go down, have fallen by 131,617 contracts, … Continue reading
Only One Oil Fundamental Factor
By Jeffrey P. Snider, Alhambra Investment Partners The fundamentals for crude oil continue to be atrocious. Production remains relatively stable if slightly reduced, which is about the only factor in favor of oil prices since the February 11 low. On the other side of the ledger, you don’t hear as much about how it’s all oil … Continue reading
Saudi Arabia To Move From Oil, Earn More From Hajj
As part of a diversification strategy, Saudi Arabia is to broaden pilgrimage services to reduce its dependence on falling oil revenue, reported the Saudi Gazette newspaper. The pilgrimage industry is the country’s second most important after oil and gas. Nearly two million foreign pilgrims visit the holy city of Mecca annually during Hajj. The figure … Continue reading
Iranians Fuel Property Frenzy In Syria
By Sirwan Kajjo, Mehdi Jedinia The Iranian government is encouraging prominent Tehran developers to buy property in well-off Shi’ite majority neighborhoods in Syria’s capital, analysts and construction industry sources in Tehran said. “Entire neighborhoods have been purchased by Iran,” Syrian economist Khorshid Alika told VOA. During the early days of Syria’s civil war, Tehran kept Iran’s involvement … Continue reading
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