Russia has expressed its intention to form a united front with BRICS nations on global climate issues following the conclusion of the COP28 negotiations in Dubai. The BRICS group, traditionally including Brazil, Russia, India, China, and South Africa, will expand in 2024 to include Saudi Arabia, the UAE, Iran, Ethiopia, and Egypt. Russia, set to […]
Related Posts
Saudi Oil Minister Warns of $50 Barrel as OPEC+ Tensions Rise
Saudi Arabia’s oil minister has issued a stark warning to OPEC+ members. Prince Abdulaziz bin Salman cautioned that oil prices could plummet to $50 per barrel if production agreements are not honored. This warning comes amid persistent geopolitical tensions and falling oil prices, frustrating Saudi officials. The global oil market has been experiencing significant fluctuations. […]
Petrobras Targets $102 Billion Investment in Five-Year Plan
Petrobras, Brazil’s state-run oil company and Latin America’s largest oil firm has set a bold goal to invest $102 billion from 2024 to 2028. This decision reflects a 31% increase in investment compared to the previous plan. The company’s new direction comes under President Lula’s government. The increase in funds will focus on new projects […]
Brazilian Interest Rates Keep Rising as U.S. Election Looms
The financial markets experienced another day of rising interest rates. This marks the third consecutive session of increases. Investors closely watched the U.S. presidential race and awaited fiscal measures from the Brazilian government. The DI rates for January 2025 closed at 11.256%, up from the previous 11.25%. This rate reflects short-term expectations for the Selic […]