BRICS MATERIALS: the flourishing intra-BRICS oil trade

bne.eu

BRICS MATERIALS: the flourishing intra-BRICS oil trade

bne.eu

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World News@lemmy.worldEnglish · 1 year ago

The addition of the Kingdom of Saudi Arabia (KSA) to the BRICS+ at a summit on August 24 came as a surprise to many, but analysts say it will ...

Addition of KSA, UAE, Iran means share has doubled to 42% of crude oil output in 2022. "Saudi pricing oil exports to China and India in non-dollar currencies does not spell the end of the dollar as the international currency of choice,” says ING. Trade within bloc makes trade hard to sanction by West.

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