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Letter from the US: This crisis Is different
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
Middle East oil’s multi-step recovery plan
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
In pipelines we trust
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
Canada’s oil and gas looks East
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
Drone power: Ukraine escalates its war on Russian oil
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
OPEC+ caught between a crisis and a surplus
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
The illusion of supply: Rethinking energy security when oil cannot move
Demand for oil is falling because supply cannot meet it, not because it is no longer required
OPEC+’s 11m b/d March production collapse
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
China’s secure energy transition
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
The demand destruction timebomb
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
Russian President Vladimir Putin and Chinese President Xi Jinping attend a reception at the Kremlin in March
China Russia Markets
Tatiana Mitrova
4 April 2023
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China holds all the cards in Russia’s eastern pivot

The Asian giant sees no reason to rush on energy cooperation

Russia is looking to build on its energy ties with China, a key buyer of its gas. But Beijing’s position of power in the relationship may make the sanctioned producer play a waiting game, especially over the much-discussed Power of Siberia 2 pipeline. That seemed to be the message coming out of the high-level meeting between Beijing and Moscow in March. The Russia-China relationship has a long and complex history, shaped by the lengthy border between the two countries, the complementarity of their economies and the ambitions of both to be seen as key geopolitical actors. Following periods of friendship and tension in the Soviet era, the post-Soviet decades have seen a more complicated relati

Also in this section
Letter from the US: This crisis Is different
Opinion
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
Middle East oil’s multi-step recovery plan
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
Decoding datacentre energy demand
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
Iraq’s pipeline dilemma
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security

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