The 5th Opec+ meeting has concluded on Friday with the unanimous decision of cutting oil output by 1.2 mb/d starting from January 2019, for an initial period of six months. Opec countries will count for 0.8 mb/d and non Opec countries for 0.2 mb/d of the total target. The decision was far from being an easy one, …
After the last Opec meeting, the oil market is in turmoil, with instability in Venezuela and Libya, and Iran ready to defend its place in the oil market.
Opec agreed to extend the cut until December 2018. Many see Russia as the new swing producer, but Saudi Arabia still seems to have a lot to say.
The oil price plummeting, again. A fragile deal in an oversupplied market. Regional rivals and their proxies, the new swing producer and a struggling cartel.
What is the role of geopolitics in the current Gulf crisis and what potential does it have to impact oil prices?