The Gulf countries are already forcing a large number of migrant workers to go back to their home countries
Taxing oil is the worst among all tax options when income sources have dried up. It will have the most deleterious effect on the level of output and employment
Newsclick’s Prabir Purkayastha analyses the state of the global oil market, the geo-strategic implications and the future of oil consumption keeping in mind the nature of the pandemic
The fall in the futures market shows that the production cut by OPEC+ members may not be enough to address the drastic drop in demand due to the ongoing COVID-19 pandemic
Total global production of oil may go down by 15% with promises from some non-OPEC countries as well. However, this may not be sufficient to stop the fall in international oil prices
The post second World War US hegemony was based on oil prices being pegged to the dollar. Will the hegemony of the dollar survive the corona oil shock?
Millions of expatriate workers in the Gulf Cooperation Council countries face a grim future as the number of COVID-19 cases increases and their jobs are under threat due to the economic downturn
The fall in the international prices of oil may be good news for oil-importing countries such as India. However, economies of most of the oil producing countries will suffer massively if the prices remain at this level
The state-run company is selling 8 refineries, thousands of miles of pipelines, and fuel distributors
Michael Hudson discusses the underlying factors driving the US aggression against Iran
Newsclick’s Prabir Purkayastha talks about the latest attacks on oil processing facilities in Saudi Arabia for which the Houthis have taken responsibility.
The attacks by the Houthi forces on Aramco facilities in Abqaiq and Khurais will cause a steep rise in oil prices. They also demonstrate that Saudi Arabia may have more to lose than money if it continues with its genocidal war on Yemen