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Greater Eurasia and the (new) energy routes

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Demostenes Florosaboutenergy.com

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In recent years, we have witnessed the emergence of a geo-economic center in Eurasia, that is being structured around Russia and China. A new development pole that wants and can become an alternative to the Euro-Atlantic center. Gas is above all.

According to preliminary data provided by Gazprom, in 2018, Russia’s state-own major exported to the European Union plus Turkey 201.8 Gm3 of natural gas (calorific power: 37.053 MJ/m3), that is three times more than the total volume supplied by all LNG producers to Europe. In 2018, “the share of gas supplies to the EU countries and Turkey has reached an all-time high and totaled 36.7%” (34.2% in 2017), stated the director general of Gazprom Export, Elena Burmistrova, at Gazprom’s Investor Day event, which took place in Singapore on February 28th. 

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Oil price rise on Opec-led supply cuts

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Demostenes Florosaboutenergy.com

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In addition to the OPEC+ deal and the turmoil in the Latin American country, another bullish factor was a slight depreciation of the dollar and the impression that the Federal Reserve will not implement a strong tightening monetary policy in 2019 as it was previously supposed

Oil and currency trends

In January, barrel prices strongly increased, because OPEC+ members have been starting to implement the Vienna agreement reached on November 30th 2018.

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The Bolivarian Revolution is in danger!

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by Marx21.it

A Golpist opposition that does not want to recognize the will of the Venezuelan people proclaims itself government by inviting the armed forces to sedition.

Immediately President Trump recognizes the legitimacy of the coup, threatens Venezuela with intervention and even armed support for the heirs of Pinochet and Videla and calls on all "Western" countries to follow his example. Like one man, all the worst obscurantist regimes in Latin America respond to the call, not least the parafascist regime in Brazil that also emerged from a coup.

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A new recession is looming

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fabbrica abbandonataDemostenes Florosaboutenergy.com

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To balance the market, global economic powers must implement expansive policies and producer countries must implement the production cuts agreement as soon as possible

During the last month of 2018, oil prices strongly decreased at around $8/b in the wake of the global financial turmoil. In fact, in 2018, the S&P Goldman Sachs energy commodity index decreased by 21%.

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Confronting the crisis of imperialist globalisation

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The Anti-Trump: Xi Jinping’s thought on socialism with Chinese characteristics for a new era

by Andrea Catone, Director of the magazine MarxVentuno

Motivated by a series of questions asked in an interview during the IX World Socialism Forum - an annual event now organized in autumn in Beijing by the World Socialism Research Center at the Chinese Academy of Social Sciences (CASS) and other political and cultural organizations in the PRC - I propose the following reflections on the thinking of Xi Jinping about the entry of Chinese socialism into a new era.

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Prices rise even after OPEC agreement

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Demostenes Florosaboutenergy.com

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From the Us-China trade dispute to the Us sanctions on Iran, what's behind the drop in oil price and currency trends.

In November, oil prices carried on strongly with their bearish trend. In particular, Brent North Sea quality opened the listings at $72.75/b and closed at $59.23/b, while West Texas Intermediate grade started the quotations at $63.65/b, closing at $50.82/b. At the time of writing (on December 7th), Brent was trading at $61.4/b, whereas WTI at $52.13/b, because oil producing countries – gathered around the so-called OPEC+ group – finally, reached an agreement to cut crude output by 1,200,000 b/d in comparison with the October levels. The Pool arrangement will be in place, at least for six months, starting from January 1st 2019. Nigeria, Venezuela and specifically Iran are exempted from the deal.

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The balance of power

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Demostenes Florosaboutenergy.com

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At the center of the recent slowdown in crude oil prices, Washington's moves on the international geopolitical chessboard, the confrontation with OPEC and the movements of constant rapprochement between Russia and China

In October, oil prices strongly decreased at around $10.5/b. In particular, Brent North Sea quality started the negotiations pricing at $84.95/b and closed at $74.59/b, while West Texas Intermediate grade opened the transactions trading at $75.45/b then, closing at $64.98/b. At the time of writing (November 13th), Brent was pricing at $65.95/b, the lowest level since March 2018 and WTI at $56.26/b, the minimum since November 2017. 

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Samir Amin, a marxist theoretician

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by Rémy Herrera (*)

Samir Amin always described himself as a Marxist. While not uncritical, he drew on the theories of imperialism, notably those proposed by Paul Baran, Paul Sweezy and Harry Magdoff, as well as on pioneering works about development (such as those of Raúl Prebisch or, to a certain extent, François Perroux). But his work differs very clearly from that of "orthodox" Marxism. Like the other major theoreticians who analyze the capitalist world system, including Immanuel Wallerstein, Giovanni Arrighi and André Gunder Frank, Samir Amin produced a series of global analyses that intertwine relations of domination among nations and relations of exploitation between classes. These see the modern world as a concrete socio-historical entity forming a system, i.e., an assemblage -- that is structured by complex relations of interdependence where several elements of a reality come together as a coherent and autonomous whole by positioning themselves so as to express their role.

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All the Factors behind the Bullish Trend

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Demostenes Florosaboutenergy.com

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The main reasons for the rise in oil prices are the collapse of Lybia's and Venezuela's output along with the economic measures imposed against Iranian crude exports. Looking at country data, China and India are still the key drivers

In September, barrel prices significantly rose at around $4/b. In particular, Brent North Sea oil quality started the negotiation at $78.01/b and closed at $82.75/b, while West Texas Intermediate opened the transaction at $69.64/b, closing at $73.43/b. At the time of writing, Brent was quoting at $84.91/$ and WTI at $74.80/b.

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Positive trends

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forex pcDemostenes Floros | aboutenergy.com

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Price increases had three major drivers: the collapse of Iranian exports, the decrease in US stocks and the depreciation of the dollar.

Oil and currency trends

In August, oil prices surged. In particular, Brent North Sea quality opened the negotiations at $72.53/b and closed at $77.8/b, while West Texas Intermediate began the transactions at $67.79/b, concluding at $70.01/b. At the time of writing, Brent was trading at $79.15/b and WTI at $69.47/b due to the turmoil in Libya.

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