The political outlook – from the US elections and Brexit to the Middle East – has not looked more uncertain than it does now for at least a decade or two, the economic and political researcher Andrei Belyi told NGW in an interview. “The challenges in the developed world explain the instability in the dollar exchange rate: that often impacts on the oil price more than do the usual supply-demand dynamics. As a result, Opec’s latest attempt to strengthen the oil price has had only limited success because of the uncertainty regarding the political landscape in the US, the dollar exchange rate and stagnating demand. . “The oil price is not solely a question of buyers and sellers; Opec plays a relatively minor role in price formation in conditions such as these; it will take a healthy global economy to drive the price up. The situation is somehow reversed […]