Oil-exporting pact sees two consecutive months of similar production losses with Iraq and Kuwait at forefront of supply squeeze, while Iran also suffers
Mounting supply risk will test the EU’s resolve to do away with Russian gas
The UAE’s departure from OPEC after the Iran conflict could tilt the influence over the market towards US shale producers
Iraq’s prime minister designate appears to offer more of the same, but without reform the stability and integrity of the oil and gas sector may be under threat
The group’s continual evolution is not a series of desperate acts by a geopolitical institution trying to stay relevant but part of a necessary oil market design feature
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The decision appears driven by economic priorities and long-term planning rather than an attempt at geopolitical escalation
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
