for Donald Trump
Likely Republican control of the Senate means President-elect Joe Biden's first policy actions will come from the President's pen, rather than Congressional legislation.
COVID-19 has exposed frailties in the U.S. economy. The crisis provides an opportunity to bolster American economic resilience.
The amount of oil that can be diverted into the SPR will likely be of little market consequence.
The killing of Qassem Soleimani is a seismic event in U.S.-Iran relations, and could have far-reaching consequences.
The USMCA appears to calm oil industry fears that revisions to NAFTA would endanger investor protections, while Canada and Mexico both have carveouts to avoid vehicle tariffs.
The United States spends at least $81 billion every year protecting the global free flow of oil.
Compensating for supply shortfalls from Venezuela, Libya, and Iran may prove a challenging task for OPEC in the months to come.
The oil market could be sorely tested in the second half of the year and into 2019, unless demand slows, OPEC outages are less than expected, or non-OPEC producers such as the United States, Canada, and Brazil produce higher than forecast.
OPEC itself is responsible for disrupting the investment cycle and eliminating the inventory overhang in record time. Asking them to fix the problems they caused is the wrong approach.
Global oil markets are in danger of seeing a large supply deficit in the second half of 2018, increasing the need for more OPEC supply.