OPEC

Fallout Mounts for Saudi Arabia in Wake of Khashoggi Murder

Defense Secretary Ash Carter hosts an enhanced honor cordon to welcome Deputy Crown Prince Mohammed bin Salman, Saudi Arabia’s defense minister, to the Pentagon, June 16, 2016. DoD photo by Air Force Senior Master Sgt. Adrian Cadiz, modified, https://dod.defense.gov/Photos/Photo-Gallery/igphoto/2001554944/

The diplomatic consequences are mounting for Saudi Arabia after the apparent assassination of journalist Jamal Khashoggi.

FLASH: Oil Prices Continue to Creep Upward

030629-N-4790M-001 Central Command Area of Responsibility (Jun. 29, 2003) -- Commercial oil tanker AbQaiq readies itself to receive oil at Mina-Al-Bkar Oil terminal (MABOT) an off shore Iraqi oil installation. AbQaiq is the first commercial vessel to receive a post-war shipment of crude oil for export at Mabot. AbQaiq is scheduled to take on an estimated 2 million barrels of crude oil. U.S. Navy and coalition forces are helping to provide security, enforcing an exclusionary perimeter around the terminal. U.S. Navy photo by Photographer's Mate 2nd Class Andrew M. Meyers. (RELEASED), https://commons.wikimedia.org/w/index.php?title=Special:Search&title=Special:Search&redirs=0&search=oil+tanker&fulltext=Search&fulltext=Advanced+search&ns0=1&ns6=1&ns14=1&advanced=1&searchToken=c8v9kp7zj8qr2ca6bo8zpklqw#%2Fmedia%2FFile%3AOil_tanker_Abqaiq_in_2003.jpg

Oil traders are bullish in the shadow of pending Iran sanctions, with some projections suggesting a return of $100-per-barrel prices.

FLASH: OPEC Goes Rogue on Trump, Keeps Production Steady

Oil_platform_P-51_(Brazil), cc Divulgação Petrobras / ABr, modified, https://commons.wikimedia.org/wiki/File:Oil_platform_P-51_(Brazil).jpg

President Trump’s cozy relationship with Saudi Arabia failed to translate into a production hike from OPEC+ over the weekend.

Iran Sanctions: Energy Market Winners and Losers

RouhaniTASIM, modified, This is an image from the Tasnim News Agency website, which states in its footer,

Iran’s biggest customers are scrambling to secure alternative sources of oil supply.

OPEC Stabilizes Oil Markets, for Now

Oilwells, cc Flickr Richard Masoner / Cyclelicious, modified, https://creativecommons.org/licenses/by-sa/2.0/

In Vienna, OPEC+ displayed its greatest strength… and its greatest weakness.

Global Forecast (05-28-2018)

GPM-placeholder-forecast

Another attempt at Taliban talks in Afghanistan, Venezuela’s oil industry struggles to fulfil its contracts, and Turkey secures a YPG pullout from Manbij.

EU to Go It Alone on Iran Nuclear Deal

TrumpMacro, cc White House, modified, https://creativecommons.org/publicdomain/mark/1.0/

With their economic interests imperiled and domestic public opinion squarely behind them, EU leaders are looking into ways to save the Iran nuclear deal. However, good policy options will be few and far between, particularly for EU companies with high exposure to the US market.

Geopolitics Has Caused the Oil Price Rally

Oilplatform, cc Flickr Enrico Strocchi, modified, https://creativecommons.org/licenses/by-sa/2.0/

Any rally that deviates from the laws of supply and demand is destined to be short-lived, and oil prices are no exception.

Outlook 2018: Energy Prices

outlook

Will the energy market of 2018 take its cues from the bearish 2016, or the bullish 2017?

How Long Will OPEC and Russia ‘Play Nice’?

OPEC Flag, public domain

The OPEC-Russia deal seems to be having its intended effect, but how long will it last?

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