US President Donald Trump addressing the World Economic Forum via videolink
Mideast Gulf oil exporters may engage in price war
The spectre of Saudi Arabia’s 2020 market share strategy haunts a suffering OPEC+ as Trump upends the energy world
Mideast Gulf producers in OPEC+ may eventually get into an oil price war with their American rivals and perhaps non-compliant members to claw back market share lost from extended and deep quota cuts while, at the same time, contemplating investments in the US energy sector to get in President Donald Trump’s good books. Saudi Arabia and seven members of OPEC+ seem to have acquiesced to Trump’s demands to lower oil prices by agreeing to proceed with the gradual unwinding of 2.2m b/d of voluntary cuts starting in April, after delaying the plan three times before he came to power. “At some point, OPEC is going to have to consider going into a price war mode,” said Jim Krane, energy research fell
Also in this section
16 April 2025
Israel continues to strike new oil and gas concession agreements and gas exports continue to rise, but an overreliance on Egypt remains the big concern
15 April 2025
Loss of US shipments of key petrochemical feedstock could see Beijing look to Tehran with tariffs set to upend global LPG flows
15 April 2025
Australia’s East Coast Gas projections for a supply shortfall have been pushed further out, but the challenge to meet evolving gas demand and the shifting assumptions around the fundamentals remain just as stark
15 April 2025
Long-delayed prospects for onshore LNG production in Mozambique have improved thanks to US financing approval, but security challenges blight way ahead
