Why OPEC Will Put The Brakes On At $60 Oil

Instead of continuing to wage an all-out war on the American shale oil industry, which revealed it would bring about its own demise, and therefore the suicide of its ruling class, Saudi Arabia has shifted gears from fighting to pacification.

 

OPEC says a price near $60 will avoid added shale production

Recently renewed talks of a production freeze among OPEC and some non-OPEC producers including Russia have helped to bolster the price of oil in recent weeks, but the organization may not try to raise oil prices beyond $60 per barrel for fear of a renewed glut. Continue reading

China and India look to strengthen relationship

The two nations pledge to work together in hosting upcoming G20 and BRICS summits, and to cooperate more on economic and security matters

China and India vowed to enhance their bilateral ties and to cooperate in hosting the upcoming Group of 20 (G20) summit in Hangzhou as well as another meeting between emerging-market nations.

The pledge was made at a meeting between Chinese Foreign Minister Wang Yi and Indian Prime Minister Narendra Modi in New Delhi on Saturday. Continue reading