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.
On Friday 22 of June Opec agreed to increase production to keep prices under control.
The deal preserved the unity of the group and reassured the market, but it is vague and it does not clarify who is going to pump more oil, and how much it will be.
The upcoming OPEC meeting of June 22 will be filled with tensions between those willing to incease output, and those who are not. The U.S. closely watching
Iran is by far one of the most interesting actors in the global energy arena. Owner of abundant resources, the Islamic Republic led by Rohani, after years of sanction, is determined to increase the hydrocarbon production, while quickly ramping up the renewable capacity.
The referendum for the independence of Iraqi Kurdistan showed an overwhelming support for complete separation from Bagdad. Many variables are involved in this process, the most relevant being the oil in the Kurdish north of the country.
Mexico is an important country to both the regional and international energy systems. The recent energy sector reforms will affect many stakeholders all over the world, gradually changing the rule of the game set with the 1938 nationalization of the petroleum industry.