for Mehrun Etebari | @runmeh - The Fuse
Although revisions to the Iran Petroleum Contract raise questions about the attractiveness of the country’s business climate for foreign companies, the approval represents a major step forward to opening Iran for business.
Mexico’s crude oil production has declined for 11 consecutive years, and a recovery is nowhere in sight.
Despite its long-term outlook accounting for expectations that government policies will improve energy efficiency, OPEC sees oil demand, particularly from transportation, remaining on a healthy growth trajectory through 2040.
Last week, statements from the oil ministers of Venezuela, Nigeria, and Iran reflected the significant impact of national politics on minister behavior, contributing to the group’s dysfunction.
The IMF has estimated that oil exporting nations in the Middle East and North Africa as a whole will see their current account balances drop from a collective 8.9 percent of GDP surplus last year to a 4.3 percent of GDP deficit in 2016.
As Indonesia prepares to be readmitted into OPEC at the upcoming December meeting in Vienna, it faces complex energy policy decisions, particularly in regards to fuel subsidies.
If Saudi Arabia follows the UAE's example and scraps fuel subsidies, there will be major impacts on both national economies and global oil demand.