Oil

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IEA Cuts Oil Demand Forecast for 2024 but OPEC Remains Bullish

While geopolitical tensions have the oil market “on edge,” the IEA expects a well-supplied market amid weaker demand.

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Can Iran Sustain Its Oil and Gas Export Surge?

Iran’s oil resurgence is a critical market and political development, but the Iranian energy industry remains in a shaky state.

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OPEC and IEA at Odds Over Long-Term Oil Demand Outlook

The divergence between the IEA and OPEC outlooks is largely due to assumptions regarding the speed at which internal combustion engine vehicles will be replaced by electric vehicles.

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Global Oil Prices Spiral Higher After Saudi Arabia and Russia Extend Supply Cuts

A substantial drawdown on global oil stocks is forecast for the fourth quarter amid record oil demand, accelerating the rise in oil prices to the $100 per barrel threshold.

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Event Report – Petro Diplomacy: The Energy Transition and the Road to COP28

AGSIW's ninth annual Petro Diplomacy conference examined how the Gulf Cooperation Council countries are managing the energy transition and expectations for the United Nations Climate Change Conference, COP28, in Dubai beginning in November.

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Saudi Arabia Makes Unilateral Production Cut as OPEC+ Extends Quotas

Despite a “voluntary” production cut announced by Saudi Arabia for July, economic uncertainty overshadowed the June 4 OPEC+ meeting.

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Oil Markets Face Uncertainty After Surprise OPEC+ Production Cut

OPEC+ supply cuts starting in May could aggravate an expected oil supply deficit in the second half of 2023 at a period of greater economic uncertainty.

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Long-Running Turkey-Iraq Oil Dispute Continues to Simmer, Despite Court Decision

A wary ruling from an international court of arbitration against Turkey complicates relations among Baghdad, Ankara, and Erbil.

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A New Opportunity for the Basra-Aqaba Pipeline?

While the Basra-Aqaba pipeline project promises economic, energy, and security benefits for Iraq and Jordan, high costs and political and security risks pose huge feasibility challenges.

Erdogan Politically Wounded But Still Turkey’s Dominant Power

Opposition success in Turkey’s local elections is an unprecedented rebuke to President Recep Tayyip Erdogan. While his constitutional power and dominance of the judiciary remain intact, Erdogan is probably in his final term and will find domestic and foreign initiatives somewhat more complicated.

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Through its careful examination of the forces shaping the evolution of Gulf societies and the new generation of emerging leaders, AGSIW facilitates a richer understanding of the role the countries in this key geostrategic region can be expected to play in the 21st century.

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