Tillerson ouster shakes up energy diplomacy
American policy towards Iran and Venezuela will likely grow harsher, injecting more risk into energy markets
Rex Tillerson is out as US secretary of state after being unceremoniously sacked by his boss via Twitter this week. Oil spiked briefly on the news, but quickly reversed on short-term worries over surging US supply and ended the day down. But Tillerson's ouster is likely to be bullish for oil in the months ahead. The former ExxonMobil CEO was both pilloried for his performance leading the State Department, but also seen at home and in foreign capitals as a moderating influence within the Trump administration. His apparent successor Mike Pompeo, who has been heading up the CIA, will bring a harder version of Trump's "America First" philosophy to the diplomatic scene. On Iran, Tillerson had pub
Also in this section
9 January 2026
OPEC+ remains on track as output falls, with only Gabon failing to hit its output targets in December, although Kazakhstan’s compliance was involuntary
9 January 2026
The Latin American producer’s crude prospects rely on a multi-pronged approach where even the relatively easy wins will take considerable time, effort and cost
9 January 2026
While many forecasters are reasserting the importance of oil and gas, petrostates should be under no illusion things are changing, and faster than they might think
8 January 2026
Indonesia and Malaysia are at the dawn of breathtaking digital capabilities. Their energy infrastructure must keep up with their ambitions
