A perfect deal is where all protagonists get something out of it. All oil-producing countries stand to gain if oil price rebounds. In bare bones, the OPEC+ group led by Saudi Arabia and Russia finalised in a nail-biting photo finish on Sunday an agreement to steeply cut oil production by […]
The emergency OPEC+ talks that are scheduled for 9 April are the next step in the “New Detente” between the US and Russia even though America won’t formally be represented at that meeting seeing as how Moscow is making moves that show its interest in stabilizing the global energy markets […]
On Monday, the US President Donald Trump literally bit the bullet by telephoning Russian President Vladimir Putin to discuss the state of the energy markets, which are at a crisis point not seen in history. As of last weekend, global oil prices collapsed by over 50 percent and are the […]
This outmost daring move comes at a crucial point in time, and faces us with the realization that Vladimir Putin and Donald Trump are united and have taken humanity to the crossroads of the New World Order and freedom. As I have stated often before, I thought that the world would deeply change between 2020 and 2024.
The common refrain is that Saudi Arabia has launched an oil price war against Russia by boosting production and selling at discounted price, which, coming on top of the pressure from demand destruction caused by climate change action and the onslaught on the global financial system from the coronavirus pandemic, […]
Russia’s rejection of its OPEC+ partners’ request to further reduce oil production in response to slumping demand prompted Saudi Arabia to unwisely initiate an oil price war over the weekend as revenge, one which the Gulf country is ill-equipped to wage and which could prospectively catalyze a global economic crisis. […]
The India-Saudi relationship was historically a finely poised balance of mutual interests despite all contradictions. Its glacial pace had an inner logic — don’t push too hard, as life is real. But the Modi government quickened the pace — probably with an eye on Muslim politics. Petrodollar recycling is largely […]
The International Energy Agency forecast that the US could become the world’s top oil exporter by 2024. The report attributes this to “the incredible strength of its shale industry”, noting that it amounts to “a pivotal milestone that will bring greater diversity of supply in markets.” Although the agency’s full […]
What are the options available with Paris and Berlin over Ukraine vis-à-vis Russia? The faultlines in their relations with Trump seriously weaken their capacity to cope with Russian resurgence.
What will be keenly watched in the period ahead, therefore, is how the new alchemy transforms Russian-Saudi relationship on the whole, especially given the backdrop of cloud of uncertainty hanging heavily on US-Saudi ties at present.
If looked at as the opening salvo of a global energy war being waged in parallel with the trade one as opposed to being dismissed as the populist piece of legislation that it’s being portrayed as by the media, NOPEC can be seen as the strategic superweapon that it actually is, with its ultimate effectiveness being dependent of course on whether it’s properly wielded by American decision makers.
Iran regards Russia and Saudi Arabia’s OPEC+ output deal as a strategic threat, though its characteristic doesn’t imply any danger but should instead be interpreted more as a domestic political signal intended to redirect public rage away from the authorities and against the international community.