Petroleum has become a crucial tension point in the United States’ attempt to scale back North Korea’s nuclear ambitions.
Although oil would surpass $200 per barrel under its high-price scenario, the EIA sees little effect in curbing demand growth.
The Kurdish predicament is defined by energy and oil. Their assets hold the promise of prosperity and independence—but they also serve as tripwires for conflict and sources of leverage for opponents.
Here are four charts that illustrate the links between petrostate activities, U.S. foreign policy interests, and oil supply security.
The new sanctions will still tighten the screws on Russia’s energy sector, altering how the country does business with the global energy industry and increasing risks of partnering with Russian companies.
The possibility that Russia may soon own refineries in the U.S. if Venezuela’s PDVSA defaults on its loans from Rosneft has pushed the risks of foreign-owned energy assets in the U.S. into the spotlight. As of now, some 30 percent of U.S. refining capacity is owned by foreign companies.
In the event that Venezuela defaults on its loan to Rosneft, the Russians would assume control of critical U.S. energy infrastructure.
In the aftermath of the 2014 price fall, producer countries have had to reevaluate policy and economic strategy while contending with a persistent glut that may dampen prices for some time, further undermine their budgets, and possibly cause domestic strife.
Likely with window dressing.
More and more market watchers are making the case that OPEC should just leave well enough alone and let the free market set the price. While trying to influence sentiment and fundamentals, on nearly a daily basis, OPEC has already destabilized the market and guarantees more uncertainty ahead.