Last week was a tumultuous week for traders in oil markets as lingering doubts over the effectiveness that a production cut led by the nations of the Organization of Petroleum Exporting Countries (OPEC) was achieving the desired result of reducing global oil supply. The market has been saturated for over two years and some producers… Keep reading →
OPEC
Persistently High Supplies of Oil Leads to Market Woes
By Michael McDonaldSign up and get Breaking Energy news in your inbox.
We will never sell or share your information without your consent. See our privacy policy.Keeping Oil Down: Weak Demand for Gas Combines with Libyan Pipelines
By Michael McDonaldOil prices fell again this week as lower than expected demand for gasoline combined with two major oil fields in Libya resuming production to further depress crude prices. The combination of lower than expected demand and increased production stoked concerns that despite the efforts of major oil producers the global inventory surplus would remain unaffected.… Keep reading →
Royal rivalries, oil uncertainties, and premature optimism about reform initiatives could jeopardize the kingdom’s hopes for transformative economic change. On April 25, 2016, Saudi Arabia announced Vision 2030, an ambitious economic plan intended to confirm the kingdom’s status as “the heart of the Arab and Islamic worlds, the investment power house, and the hub connecting… Keep reading →
Is Oil About to Stabilize?
By Michael VinciThe International Energy Agency (IEA) has released a statement that they believe the oil market is soon approaching equilibrium, mostly due to the success of the OPEC production deal. The agency’s data shows that demand is growing at a constant and regular pace in the oil market. “The numbers are there to support it,” according… Keep reading →
Military Strikes On Syria: Historical Lessons And Implications
By Michael Eisenstadt
Assad’s track record indicates that he will likely continue challenging the chemical redline, and that additional strikes and other pressures may be necessary to deter him from doing so. In the early morning hours of April 7, the United States launched fifty-nine Tomahawk cruise missiles from two destroyers in the Eastern Mediterranean against al-Shayrat Air… Keep reading →
The decision by the Trump Administration to launch missile strikes against Syria may affect oil markets. The Middle Eastern country broke international law established by the United Nations and the Geneva Conventions when it decided to use chemical weapons on rebels in the country – a banned form of artillery. The true outcome hinges on… Keep reading →
Yemen’s Banking Problems Could Have Dire Humanitarian Implications
By Katherine Bauer
Clarifying the Central Bank’s authority, resuming the payment of public salaries nationwide, and addressing currency shortages could help the Hadi government avert a looming famine. Following a visit to Yemen earlier this month, the head of the United Nations World Food Programme (WFP) declared that it was “a race against time” to avoid famine in… Keep reading →
OPEC Cutback Extension Called into Question
By Michael VinciThe agreement between OPEC and non-OPEC countries around the world to limit supplies has been called into review by a joint committee of ministers from the oil producers. Prior statements from these countries has hinted at the possibility of an extension, always citing the high levels of conformity between the members of the pact. Previously,… Keep reading →
Talks this week with the Saudi deputy crown prince are expected to cover current issues including Iran, “radical Islamic terrorism,” Syria, and Yemen, as well as perspectives on the longer-term future of the Middle East. The visit by thirty-one-year-old Prince Muhammad bin Salman, a son of King Salman, who turns eighty-one this year and is… Keep reading →
Regardless of how the details surrounding Sunday’s launch shake out, it was an unhelpful move at a time when the Trump administration is determining its policy toward Iran’s missile program and broader regional behavior. According to recent media reports, Iran conducted a weapons test on January 29 that involved either a nuclear-capable ballistic missile, a… Keep reading →
