The risks of more oil production losses have intensified as the financial screws on Caracas continue to tighten. Deteriorating conditions in Venezuela are occurring at the same time OPEC is looking to extend its production cut and tensions throughout the Middle East are rising.
Saudi Arabia is poised to make "unprecedented" cuts to customers next month, while OPEC's secretary-general suggests the cartel may take "extraordinary measures" to further tighten oil market fundamentals.
Saudi Arabia and Russia successfully collaborating on tightening fundamentals and lifting prices, if it continues, will likely have large ramifications for the global oil market in the future, given that both are in a position of strength with high production volumes and large proven reserves.
OPEC is trying to spin recent price developments to show that it is fostering market stability in an effort to assist both consumers and producers. But recent talk of a more balanced market creates a false narrative
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.