Opec+ stress test as oil price lifts off
Cartel heavyweight Saudi Arabia draws heat from White House and Russia
What next for the oil price? An increase of about 40pc since January to c$74/bl has been spurred by the Opec+ supply cuts, as well as US sanctions against Iran and crisis-hit Venezuela, where production losses have been deeper than forecast. On trading floors, the mood is one of uncertainty — not least about the impact on future supply following President Trump's recent decision to scrap waivers granted to some countries, including China, following the imposition of Iranian sanctions from January. The immediate response was another leg-up in the oil price. Now, the question is whether traditional swing producer Saudi Arabia will step in and plug the gap left by the potential loss of even mor
Also in this section
3 January 2025
Supporters of the LNG industry need to concentrate on the areas with the most potential before the sector runs out of time to make its mark
2 January 2025
A renewed push for oil and gas production in the US combined with a continued focus on decarbonisation are just two of the trends to look out for in the coming year
2 January 2025
The climate narrative has centred on phasing out fossil fuels in favour of renewables and novel solutions, but increasingly, policymakers are realising the importance of hydrocarbons as an enabler of the transition
2 January 2025
Global population growth is leading to ever-rising demand for reliable and affordable energy, a need gas is perfectly placed to meet
