Supply and demand – not geopolitical factors – will move oil prices through 2017.
Oil prices staged a robust recovery last week, but it might not last long.
Negotiations over a production freeze between OPEC and Russia aren’t anything for energy bulls to get excited about.
The worst is yet to come for struggling oil producers.
With no recovery in sight for oil prices, will the “fragile five” governments of Libya, Iraq, Nigeria, Venezuela, and Algeria succumb to their fiscal pressures?
Global oil markets are stuck in bear territory, and it doesn’t look like that will be changing any time soon as a handful of global events conspire to keep prices down.
Last week’s rally in crude prices has proven to be short-lived thanks in large part to OPEC and more bad news from China.
According to Brigadier Mark Carleton-Smith, departing commander of British forces in Afghanistan, the war in Afghanistan is about reducing the insurgency to a manageable level that is not a strategic threat.
The recently negotiated US-Iraq Status-of-Forces security pact signals the beginning of the end of the U.S. occupation of Iraq.