The coronavirus's chilling effect on global oil demand is exposing the frailties in Iraq's oil-based economy.
The killing of Qassem Soleimani is a seismic event in U.S.-Iran relations, and could have far-reaching consequences.
Global supply outages stand at exceptionally high levels—even as Brent struggles to stay above $60 per barrel.
Russian discontent over Saudi intentions to reduce production is a likely potential flashpoint for the upcoming meeting—but internal OPEC politics, particularly between Saudi Arabia and Iran, mean this summit is rife with tension that threatens to upset proceedings.
The unexpected outcome of Iraq's recent parliamentary elections has sweeping implications for the country's agreements with international oil companies and OPEC.
OPEC members are split over whether to change strategy, as global oil markets are trading just under $80 per barrel and consuming countries are pressuring producers to increase output.
The independence referendum exposed how vulnerable the semi-autonomous KRG was—as a landlocked, oil-dependent territory surrounded by hostile powers.
After more than a quarter-century of estrangement, Saudi Arabia and Iraq are just getting started in repairing their relationship.
The recent tension in Iraq highlights the ongoing reality of the global oil market: Many key oil-producing countries are politically unstable.
Despite the effects from the OPEC production cut and austerity measures, Saudi Arabia can ride out the current economic headwinds without having to switch market strategy. That outcome, though, is not a certainty since there are factors that could further negatively impact the Saudi economy.