$100 Oil Has Been A Blessing For Gulf Economies
Gulf oil economies suffered through the last oil price crash, issuing record levels of debt in 2020. Now, with oil prices well above $100 and set to stay there for Continue Reading
U.S. lawmakers relaunch effort to stop U.S. support for Saudi Yemen campaign
Nearly 50 members of the U.S. House of Representatives introduced a resolution on Wednesday seeking to end any U.S. involvement in Saudi Arabia’s air campaign in Yemen, with plans to Continue Reading
Saudi Arabia Sits on Its Oil-Boom Windfall as It Seeks to Diversify Economy
In past oil booms, Saudi Arabia funneled financial windfalls into massive infrastructure and handouts for its citizens. This time around, it is sitting on the cash. With oil prices consistently Continue Reading
Iran decries ‘unfair’ IAEA report on nuclear activities
Iran accused the International Atomic Energy Agency on Tuesday of publishing an unfair report on its investigation into Tehran’s nuclear activities, possibly setting up a fresh diplomatic clash with the Continue Reading
Turkey hikes gas, power prices citing ‘perfect storm’ in global markets
Turkey raised natural gas and power prices on Wednesday and its energy importer blamed a “perfect storm” in global markets, feeding into an inflationary surge in the country that likely Continue Reading
Iran, Greek tanker troubles spook oil, shipping markets
Tehran detained Delta Poseidon, Prudent Warrior on May 27 US seized tanker carrying Iranian oil off Greece Iran nuclear deal unlikely ahead of US midterm elections, say analysts Geopolitical risks Continue Reading
Iraq is looking to boost its oil production capacity to 5 million b/d by 2025: minister
Iraq to further ramp up capacity to 8 mil b/d by 2028 Ihsan Ismaael has given conflicting timelines for capacity ramp-up Iraq is seeking IOC help to develop its fields Continue Reading
Can Egypt And Israel Fill The European Energy Vacuum?
Israel may boost gas exports to the EU through Egypt. increased energy trade is an opportunity to improve relations between Brussels and Cairo. Brussels is trying to entice East Med Continue Reading
Severe water shortages strain wheat harvest in Iraq
Salah Chelab crushed a husk of wheat plucked from his sprawling farmland south of Baghdad and inspected its seeds in the palm of one hand. They were several grams lighter Continue Reading
Iran seizes 2 Greek tankers in Persian Gulf as tensions rise
Iran’s paramilitary Revolutionary Guard seized two Greek oil tankers Friday in helicopter-launched raids in the Persian Gulf, officials said. The action appeared to be retaliation for Athens’ assistance in the Continue Reading