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. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. Saudi Arabia, OPEC’s largest producer, has been boosting oil production to offset supply disruptions elsewhere, including the anticipated loss of Iranian oil supply after U.S.

Oil Prices Running Out Of Reasons To Rally

Green Car Congress

Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. For the better part of two months, optimism surrounding the OPEC deal has buoyed oil prices, but bullish sentiment from speculators are showing early signs of abating, raising the possibility that the oil rally is running out of steam. The gains in the rig count come even as oil prices have held steady in the mid- to low-$50s per barrel.

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