In recent years, the EU has been inattentive to the GCC, but the immediate Ukrainian crisis and the long-term climate crisis have combined to jolt Brussels out of this complacency.
The alliance of producers is hastening the timetable to restore barrels of oil to the market in a deft diplomatic maneuver that has been welcomed by Washington and Moscow.
With oil prices above $80 per barrel, OPEC and its Russian-led allies are optimistic about the future, but geopolitical developments threaten to throw the market off-kilter.
As the EU tries to overcome its strategic confusion, the transition to a greener economy could provide opportunities for EU-GCC relations.
AGSIW's seventh annual Petro Diplomacy conference examined the energy transition and ways in which the Gulf petrostates are positioning themselves for a net-zero environment.
Energy transitions are by their nature disruptive, but the pandemic has introduced a risk factor that might play out for years to come.
Gulf actors will be paying close attention to the dispute to make sure it does not transition to more direct conflict that could further jeopardize regional stability and strategic Europe-Mediterranean-Africa market linkages.
Saudi Arabia and the UAE are pushing to advance their economic interests, but it does not necessarily have to be a zero-sum game.
An OPEC+ deal, which was close to being within reach, collapsed over a dispute between the two Gulf allies, jeopardizing the interests of all constituents and leaving consumers at the mercy of market volatility.
OPEC and its Russian-led allies stick to their planned oil production strategy, issuing words of caution regarding the strength of the demand recovery.Learn More