Tag Archives: International Organizations

Saudi Arabia has made the mistake of trying to compensate for the loss of Iranian supplies with just-in-time replacement.

In the near-term. the US seems to be counting on Saudi Arabia and Russia. along with American shale drillers. to offset the losses from Iran.

The Trump administration welcomes competition with Russia. but Moscow can no longer use energy as economic weapon.

Saudi Arabia is expected to take the issue of balancing the market at the upcoming summit of OPEC.

Seeking to reverse a downturn in oil prices that began in 2014. OPEC. Russia and other allies decided in late 2016 to reduce supply.

For Iraq. which did $12 billion in trade with Iran last year. the impact would be particularly dire.

U.S. President Donald Trump increased pressure on OPEC to ``get prices down now!``

At the last OPEC meeting in Vienna. the agreement was extended again until the end of 2018.

Russia’s output increase comes just days before it meets in Algeria with other members of the group known as OPEC+.

U.S. President Donald Trump linked American support for Middle Eastern countries to oil prices.