Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
India’s HMEL navigates clear path through market shifts
Integrated refining and petrochemicals company highlights strategic flexibility amid trade war risks and long-term planning to futureproof business, says CEO Prabh Das
Oil market imbalances divide major energy agencies
OPEC and IEA split on oil demand outlook and even diverge on supply risks, with huge implications for market sentiment
9th OPEC International Seminar
Petroleum Economist is proud to be an official media partner for the 9th OPEC International Seminar in Vienna
OPEC+ keeps more barrels off market in April
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
Bad omens for Chinese oil demand
Sino-US trade tensions could see crude consumption crumble despite recent buying behaviour
India revamps retail fuel business
The country is seeing a notable increase in petroleum product retail outlets, with private operators gaining market share
The many faces of China’s oil demand
While economic weakness and the electric vehicles trend have hit oil demand growth, petrochemicals and jet fuel show more nuanced changes across the barrel
Sasol delays South Africa’s ‘gas cliff’
The company will use methane-rich gas produced from local coal to temporarily replace lost supplies from Mozambique
China’s oil majors making gas shift
PetroChina, Sinopec and CNOOC are aiming to rebalance their energy mixes but face technically difficult deepwater and shale task
Supercycle goes into reverse
Oil and gas prices could come crashing down, resurrecting ghosts of trade wars past
The Brics made news last year when they approved a motion to consider inviting new members
Brazil Russia India China South Africa Markets
David Blackmon
23 May 2023
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Rise of Brics challenges oil world order

The five economies are shaking up global markets, and they could be on the cusp of a major break from the existing order

The annual meeting of the Brics countries (Brazil, Russia, India, China and South Africa) in August may see the group make decisions that have serious consequences for oil and energy markets, including a shift away from the petrodollar. The Brics made news last year when they approved a motion to consider inviting new members. They hit the headlines again in April 2022 when they agreed to a proposal by China to establish the New Development Bank, which serves as an alternative for developing nations to Western/global financial institutions such as the World Bank. Later in 2022, Saudi Arabia indicated its interest in formally applying for Brics membership, as its relations with the US have fr

Also in this section
India’s HMEL navigates clear path through market shifts
21 May 2025
Integrated refining and petrochemicals company highlights strategic flexibility amid trade war risks and long-term planning to futureproof business, says CEO Prabh Das
Oil market imbalances divide major energy agencies
21 May 2025
OPEC and IEA split on oil demand outlook and even diverge on supply risks, with huge implications for market sentiment
9th OPEC International Seminar
20 May 2025
Petroleum Economist is proud to be an official media partner for the 9th OPEC International Seminar in Vienna
Energean ready to go deep into Africa
20 May 2025
Mediterranean-focused gas producer looks to replicate Israel success story and is hunting projects across the continent, with particular interest in West Africa

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search