Brussels Can Now Sanction Any Refinery Buying Russian Oil. Why Did It Give the First One Six Months to Comply?
On July 23 the European Union used its newest sanctions tool for the first time. Buried inside its twenty first package against Russia was...
The Barrels OPEC+ Can’t Actually Deliver
On August 12th, Bloomberg reported a number that should unsettle anyone still reading OPEC+'s monthly quota announcements at face value: Russia's actual crude output...
America’s Global Oil Market Hegemony through Warfare
Authors: M. Abiya Emima and Edberg D. Cheeran
The global oil market has long played a pivotal role in shaping contemporary geopolitics, serving as a...
The First Major Test of OPEC+ After UAE’s Exit
For almost six decades, the United Arab Emirates had been a member of OPEC, but all of that came to an end on May...
Can OPEC Plus’s Watchdog Do Anything About Hormuz?
Three days before its 67th sitting, the OPEC Secretariat did something it rarely bothers to do: it told the market, in writing, not to...
US-Iran War Losses Still Trail the 1979 Oil Shock in Total Economic Impact
The ongoing war in Iran has caused the largest oil supply shock in history, resulting in daily production losses that are unprecedented. However, the...
The Evolution of OPEC: From Oil Cartel to Crisis Manager
Origins of OPEC and the Oil Shocks
OPEC was initially formed in 1960 by Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela to protect the national...
China’s Falling Fuel Demand Eases Pressure on Oil Markets
Three months into the Iran war, the oil market is adjusting to the fact that China, the largest importer of oil, needs significantly less...
Are Hidden Oil Flows From Hormuz Reshaping the Energy Market?
Oil shipments passing through the Strait of Hormuz have quietly increased in recent weeks, but traders say the movement reflects a fragmented and opaque...
Nigeria’s Oil Sector Under Pressure After Abu Dhabi’s OPEC Exit
After 60 years as a member of the Organization of the Petroleum Exporting Countries (OPEC), the United Arab Emirates (UAE) has decided to officially...