article thumbnail

Saudi Arabia And Iran Reignite The Oil Price War

Green Car Congress

The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. Iran, OPEC’s third-largest producer, is trying to convince its oil customers to continue buying Iranian oil despite stringent U.S. Link to original article: [link]. sanctions kick in.

article thumbnail

What Does The Next OPEC Meeting Have In Store?

Green Car Congress

The next OPEC meeting on the 2nd of June will act as little more than a forum for continued altercations between Saudi Arabia and Iran. OPEC interactions have become a direct altercation between Saudi Arabia and Iran, with the remaining members reduced to mere observers. OPEC is in a difficult situation.”.

article thumbnail

The 5 Countries That Could Push Oil Prices Up

Green Car Congress

The ‘Fragile Five’ petrostates—Iran, Iraq, Libya, Nigeria and Venezuela—continue to see supply disruption potential, with northern Iraq crude exports at risk due to an escalation of tensions between the (Kurdistan Regional Government), Baghdad and Turkey, while the United States has decertified the 2015 Iran nuclear deal,” U.S.

article thumbnail

OPEC’s Output Freeze: What Has Changed Since Doha?

Green Car Congress

The hopes of reaching an agreement in Doha were scuttled by Saudi Arabia, because it wanted its arch rival, Iran, to participate in the freeze. Unfortunately for oil prices, Iran had made it clear that it would not join any such discussion until they reached pre-sanction levels of oil production. What has changed from Doha to Algeria?

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

According to the IMF’s 2015 Article IV Consultation-Press Release and Staff Report , published August 3, oil and natural gas exports constituted 65 percent of exports, 52 percent of the Federal government budget, and 14.5 Russia already has extensive and close ties with Iran and Venezuela, and is now laying the basis for such ties with Iraq.

Russia 150
article thumbnail

Opinion: China To Continue Expanding Its Influence In The Oil And Gas Sector

Green Car Congress

One of China’s most recent mid-stream deals included building a pipeline from Iran to Pakistan , which is being built despite objections from the U.S. Unlike the pipeline that will travel from Iran to Pakistan, this pipeline deal was made as a means to satisfy China's growing thirst for oil. Article Source: [link].

Oil 150
article thumbnail

Opinion: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

Green Car Congress

oil analyst cited in this article, who has tracked oil companies’ budgets for many years, estimates that Aramco and its Kuwaiti and UAE counterparts will increase their investment in oil exploration and production in 2015 by 4.5 According to an August 26 Bloomberg article , the Saudi government is seeking ways to reduce investment in 2016 “.as

Oil 150