• 4 minutes England Running Out of Water?
  • 7 minutes Trump to Make Allies Pay More to Host US Bases
  • 10 minutes U.S. Shale Output may Start Dropping Next Year
  • 14 minutes Washington Eyes Crackdown On OPEC
  • 2 hours One Last Warning For The U.S. Shale Patch
  • 3 hours Once Upon A Time... North Korea Abruptly Withdraws Staff From Liaison Office
  • 16 mins Chile Tests Floating Solar Farm
  • 9 hours Oil Slips Further From 2019 Highs On Trade Worries
  • 7 hours Poll: Will Renewables Save the World?
  • 4 hours Modular Nuclear Reactors
  • 15 hours China's E-Buses Killing Diesel Demand
  • 16 hours Trump sells out his base to please Wallstreet and Oil industry
  • 1 day Trump Tariffs On China Working
  • 11 hours China's Expansion: Italy Leads Europe Into China’s Embrace
  • 1 day Read: OPEC THREATENED TO KILL US SHALE
  • 1 day 3 Pipes: EPIC 900K, CACTUS II 670K, GREY OAKS 800K
  • 1 day Russian Effect: U.S. May Soon Pause Preparations For Delivering F-35s To Turkey
  • 1 day Biomass, Ethanol No Longer Green

Global Energy Advisory – 14th September 2018

Rig

U.S. Energy Secretary Rick Perry this week held two high-profile meetings, one with his counterpart from Saudi Arabia and the other with his Russian counterpart. These meeting were an attempt ensure ample supply of crude oil after sanctions against Iran come into effect in November.

Perry praised OPEC as a whole and Russia as its partner for responding to higher prices by increasing production, even using the word “admiration” as something the cartel and Russia deserved for their efforts to keep oil prices under control.

The talks are the latest stage in Washington’s preparation for the sanctions whose purpose is to cripple the Iranian economy to an extent that would lead to a regime change - although observers familiar with Iranian politics have warned this is an unlikely outcome.

Yet it has become clear that there is as much to be lost from these sanctions as—hypothetically—to be gained. Prices at the pump in the U.S. are climbing higher ahead of the November 4 deadline before the sanctions kick in and this is not something the Trump Administration wants ahead of the November midterm elections.

That’s why the administration has been—on the one hand--very actively trying to convince Iran’s biggest trading partners to drop its crude, and, on the other, seeking to ensure there will be enough oil even when Iran’s exports slump.

The situation is particularly interesting with regard to Russia.…




Oilprice - The No. 1 Source for Oil & Energy News