“The potential of air strikes on Yemen by Saudi Arabia, the biggest oil producer in OPEC, could throw world oil markets into volatility.” While Yemen contributes less than 0.2 percent of global oil output, its location puts it near the center of world energy trade. The nation shares a border with Saudi Arabia, the world’s… Keep reading →
The latest shakeup among Saudi decisionmakers will require Washington to work on new relationships in Riyadh and perhaps reconfirm understandings reached at last Tuesday’s summit. Just two days after President Obama’s visit to Riyadh, King Salman has sacked several of the princes who met with the U.S. delegation. According to U.S. and Saudi reporting of… Keep reading →
Russian national oil company Rosneft is expanding development at its Vankor field in Eastern Siberia and recently announced its beginning construction of a pipeline that will link a satellite field – Suzun – to the Vankor complex. “According to geologic data form January 2014, reserves of oil and condensate of the Suzun field total over… Keep reading →
Investment bank Simmons & Co’s commentary on the International Energy Agency’s August Oil Market Report highlights geopolitical risk facing global oil supply. The report shows that Opec supply fell by 165,000 barrels per day from the previous month, even as Saudi Arabia lifted output to a 12-month high. “Domestic developments in member countries has taken… Keep reading →
