Outlook 2024: Welcome to the geopolitical rollercoaster
Oil and gas are once again being weaponised
The geopolitics of energy are not what they used to be: they’re getting much “worse”. And also much “better”. Worse, because the risks are getting more heated than they have in decades. But also better, because the markets’ resilience and ability to weather geopolitical turmoil have never been greater. The reasons for the risk proliferation are many. Let me point out three. First, the rise of what Ian Bremmer calls the “G-Zero” world: the decreasing ability and/or willingness of the US to serve as the world’s policeman, the Sino-American rivalry and the mounting tensions between the West and the Rest. After the 1973 Arab oil embargo, of which we just marked the 50th anniversary, the world se
Also in this section
3 April 2025
Gas use in India has seen significant growth over the past year and looks set to accelerate further, even if the government’s 2030 goal remains a stretch
3 April 2025
IOCs and Western lenders are reluctant to commit to new oil and gas projects in African frontier countries
2 April 2025
The often-hidden yet powerful hand maintains supply chain linkages and global flows amid disruptions
2 April 2025
At some point it is likely that $70/bl will be quietly accepted as the producer-consumer sweet spot for a US administration having to balance both sides of the ledger
