Problems for Venezuela and its president Nicolas Maduro continue to mount as the country heads inexorably towards its collapse.
Beset by challenges ranging from the collapse in oil prices, to the spreading instability in the region, to criticism from its longtime allies in the United States, Saudi Arabia is facing its most difficult test in decades. But the kingdom has the means to overcome these difficulties, and also has the will to seize a unique opportunity to carry out important reforms.
2016 kicked off with tensions between Saudi Arabia and Iran reaching new highs. Their rivalry will define the future of the region, from oil prices to the risk of armed conflict.
By James Stafford World markets appear to be hovering over a precipice as Europe’s sovereign debt crisis, slowdowns in India and China and further bank downgrades threaten to send stocks and commodities down even further. Falling oil and gas prices may offer some respite to consumers but are they enough to help the economy or […]
Today the Foreign Policy Association hosted a conference on “The Future of Energy“. I had the pleasure of attending and, given that I am writing on energy, I also have some interesting insights to share. Especially interesting was the panel discussion “The Energy Picture, Redrawn.” The key insight is that energy is crucial for […]
OPEC’s meeting in Vienna a couple days ago ended without the cartel agreeing on a production level. This hasn’t happened in years (if memory serves, the last time was during the Iran-Iraq War), and it has left many questioning the organization’s future. After 5 hours of talks, the Saudi Arabian Oil Minister Ali al-Naimi said, […]
Radio Free Europe/Radio Liberty (RFE/RL) reports that Russia has increased tariffs on oil and oil products exported to Tajikistan by as much as 5.3%. This will increase the price of gasoline from the current $232 per ton to more than $250 or even as high as $285 per ton, just in time to squeeze the […]
I like it when things line up. Syzygy, they call it. What do Mongolia, Iraq, and Venezuela have in common? (Hint: it’s not oil.) It’s that they have all recently bumped into the sharp edge of resource reality. There is something about the discovery of valuable resources that make people and countries take leave of […]
Oil prices rose yesterday as Goldman Sachs stated it expects prices to reach $85 by the end of the year from its current level just below $70. Its analysts believe the recent price increase is the first stage of a longer sustained rally. They are right to see oil price rise over the long-term as […]
Oil has finished higher during 16 of the last 20 trading sessions and seven straight as it continues to rise from lows in February. Although it looks set to close lower today as traders cash in on recent gains, the price has increased over 110% over the past four months. But the fundamental drivers over […]
Nigerian militants from the Movement for the Emancipation of the Niger Delta (MEND) claimed to attack several pipelines of oil companies including Chevron yesterday, shitting in 100,000 barrels of crude a day. The attacks come in response as Nigerian forces over the past two weeks began a major operation against the rebel group. MEND claims […]
The International Energy Agency is now wondering what we had discussed earlier in the week: OPEC’s discipline is fraying. The Agency believes that OPEC members are beginning to cheat because oil prices have risen from $32 earlier this year in part due to OPEC’s coordinated cuts. However, when prices are $60 a barrel, discipline is […]
Popular from Press
