oil

At first, when it announced the terms of its "oil freeze" agreement with Russia one month ago, Saudi Arabia seemed willing to grant Iran a temporary exemption from the supply freeze, at least until it recovers its pre-embargo production levels. That however changed on Friday when the country's Deputy Crown Prince Mohammed bin Salman, shocked Saudi Arabia's Arab allies in the Persian Gulf, telling Bloomberg his country would only join the freeze curbe Iran - and all other OPEC member nations - also joined.

In the aftermath of Bloomberg's surprising Friday report, according to which Saudi Arabia flipflopped on its previous promise that it would freeze its oil output while allowing Iran to grow supply until it hit its pre-embargo peak, instead saying that it would only join the freeze curbe Iran - and all other OPEC member nations - also joined, crude tanked.

Back in late 2014 and early 2015, this website soundly mocked any and every economist that suggested that plunging oil prices - in a globalized economy where oil has been financialized beyond recognition and impacts every asset class, the stock market, global trade flows, and international diplomacy - is "unambiguously good." 

Democratic presidential front-runner Hillary Clinton is confusing her stance on campaign contributions from big oil and other fossil fuel companies, and opposition attacks on candidates who accept such monies, according to unconfirmed video evidence. The former Secretary of State recently blew her top at an environmental activist who had dared ask if she would stop taking money from oil and other fossil fuel companies. “I am so sick of the Sanders campaign lying about me.

ISIS ‘Department of Artifacts’ documents reveal trade of looted Syrian cultural treasures via well-established oil and weapon smuggling routes with Turkey. An RT Documentary crew investigating illicit oil smuggling by ISIS via Turkey have come across new documents shedding light on Islamic State’s lucrative trade in looted antiquities. Russia Today reports: There is no official accounting that would illustrate the true scale of looting being undertaken in Syria, a land once rich with cultural treasures.